Bank of Mexico: Bread Today, Hunger Tomorrow
The Bank of Mexico's reported profits are a short-term windfall that comes at the price of higher debt levels.
The Bank of Mexico's reported profits are a short-term windfall that comes at the price of higher debt levels.
Central bankers seek to shrug off any limits to their power. Only if totally unrestrained, they believe, can they truly do "whatever it takes."
Massive monetization of debt is just a way of perpetuating and strengthening the crowding-out effect of the public sector over the private sector.