Reckless – Chapter 5: Everything Bubble

Chapter 5 of the book Reckless: The Story Of Cryptocurrency Interest Rates is published below. The first major bubble post the global financial crisis was in commodities. It is the asset owners and the fake bubble economy, which was impacted considerably, while the so-called real economy disintegrated to some extent. Instead, we had a fake bubble economy, with narcissistic leaders, characterised by extravagance and madness. The authorities may find that it’s easier to burst the asset bubble than tame consumer price inflation in the real economy.