What this essentially means is that there's a lot of money out there that sees no productive investments in the real world, and thus people are willing to stick it with entities that promise them a very meager return.
But it is a good reminder that the crisis is basically the exact opposite of what so many mainstream commenters say it is. It's not about governments reaching their endgame.
It's about a growth-deficient world, governments being the one place that can absorb all this money.
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