Nils Sonnerberg
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ECB: On the Credit Wave towards Zombification
“As in the planned economies, negative productivity gains and painful prosperity losses will be unavoidable. Because productivity gains are the basis for real wage increases, the benign long-term credit conditions of the ECB increasingly become a burden for the young people in Europe.” ~ Gunther Schnabl & Nils Sonnerberg
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ECB: On the Credit Wave towards Zombification
“As in the planned economies, negative productivity gains and painful prosperity losses will be unavoidable. Because productivity gains are the basis for real wage increases, the benign long-term credit conditions of the ECB increasingly become a burden for the young people in Europe.” ~ Gunther Schnabl & Nils Sonnerberg