Florian’s Reviews > This Time Is Different: Eight Centuries of Financial Folly > Status Update

“Financial repression can also be used as a tool to expand domestic debt markets. […] [C]itizens still put large sums in banks despite the artificially suppressed returns. In India, banks end up lending large amounts of their assets directly to the government, which thereby enjoys a far lower interest rate than it probably would in a liberalized capital market.”

“Bubbles are far more dangerous when they are fueled by debt”

“If there is one common theme to the vast range of crises we consider in this book, it is that excessive debt accumulation, whether it be by the government, banks, corporations, or consumers, often poses greater systemic risks than it seems during a boom.”