Too Much Finance Can Suffocate A Country – BIS Economist
Like cancer, a nation’s financial sector can grow so large that it starts to devour its host, according to the chief economist of the respected Bank for International Settlements (BIS). “Beyond a certain point, financial development is bad for an economy. Instead of supplying the oxygen that the real economy needs for healthy [...]
Like cancer, a nation’s financial sector can grow so large that it starts to devour its host, according to the chief economist of the respected Bank for International Settlements (BIS).
“Beyond a certain point, financial development is bad for an economy. Instead of supplying the oxygen that the real economy needs for healthy growth, it sucks the air out of the system and starts to slowly suffocate it,” said Stephen Cecchetti, chief economic adviser … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards