Unless there is a major change of direction among global economic and financial officialdom, we are at risk of ending up with a world in which liquidity provision is privatised and insolvency risk for banks is socialised. This would be the exact opposite of what makes sense: solvency is (or should be) a private good and liquidity is (or should be) a public good.
... we are at risk of ending up with a world in which liquidity provision is privatised and insolvency risk for banks is socialised.
In other words, everything is going according to plan. What are the dire consequences for the super wealthy? They're the only ones who matter. In the end, might makes right. Nothing has changed since the caveman.
