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This is a personal project by @dellsystem. I built this to help me retain information from the books I'm reading. Currently can only be used by a single user (myself), but I plan to extend it to support multiple users eventually.

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62

Europe Against the Markets

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Piketty, T. (2017). Europe Against the Markets. In Piketty, T. Chronicles: On Our Political and Economic Crisis. Penguin Books, pp. 62-64

64

And despite persistent beliefs to the contrary, “printing money” doesn’t translate into massive inflation: when you’re on the edge of a depression, the main problem is avoiding a deflationary spiral. Between September and December 2008, the ECB and the Fed created nearly €2 trillion in new money (10 percent of European or American GDP) and lent it at 0 percent interest to private banks. That helped avoid cascading bankruptcies, without any additional inflation. [...]

—p.64 by Thomas Piketty 1 year, 4 months ago

And despite persistent beliefs to the contrary, “printing money” doesn’t translate into massive inflation: when you’re on the edge of a depression, the main problem is avoiding a deflationary spiral. Between September and December 2008, the ECB and the Fed created nearly €2 trillion in new money (10 percent of European or American GDP) and lent it at 0 percent interest to private banks. That helped avoid cascading bankruptcies, without any additional inflation. [...]

—p.64 by Thomas Piketty 1 year, 4 months ago