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Which is why countries, companies and individuals are all doing everything they can to reduce their net debt positions even though interests are so low and why the ultra low interest rates and QE are having so little stimulative effect on real economies or on inflation. With everyone repaying their debts, banks and vulture funds have to find somewher else to put their money.

The main reason Ireland's budgetary position has improved so much is that its interest costs are way below budgetary expectations which has in turn helped Ireland to reduce its debt/GDP  ratio from 121% to 95% in just 3 years.

Index of Frank's Diaries

by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Wed Mar 16th, 2016 at 07:55:26 AM EST
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