" there was bound to be a shock, sooner or later, too big for the central bankers to handle without help from broader fiscal policy. "
a shock ??
try an internally generated utterly endemic convulsion
and pk knows it
he calls it minsky time
"the long period of relative stability led to greater risk-taking, greater leverage, and, finally, a huge deleveraging shock"
shock here obviously got slipped in the author's word stream
by a meme demon
to mislead even the author himself
into refusing to fully grasp just how systemic
how gentically determined
are the...... crisis producing contradictions..... of Capitalism
