>>20444692Mainly Internet allowing quick settlements (digital money) and fast information transfer. In past, communication between central banks and their borrowers was way slower, which made identifying and addressing issues in the economy much harder. We had a few examples of that in the past few years (banks and debt market collapse that was averted very quickly).
Next is QE, which allows central banks to save the stock market and corporations at the cost of quality of life of lower and middle class.
I'm sure there is more, but past decade is proof on its own in my opinion. Every time bobos screamed we're about to collapse, a swift intervention from central banks proven them wrong.
I think the problem with bobos logic is they assume everyone will just stand still and do nothing while economy collapses. This was true partially in past, but not due to inaction or malice, but rather due to inefficiencies of past systems. Hence why I think this is a new paradigm.
