Read on Twitter
A short thread using the story of Yugoslavia to explain the suicide economics that is printing huge amounts of unbacked money to fund government budgets.
Part 2
Source: #YUGO">https://www.sjsu.edu/faculty/watkins/hyper.htm #YUGO">https://www.sjsu.edu/faculty/w...
This thread was inspired by a response to a question I asked 4 years ago on Reddit
https://www.reddit.com/r/AskEconomics/comments/72t4k6/what_happens_when_a_declining_oil_economy_starts/">https://www.reddit.com/r/AskEcon...
https://www.reddit.com/r/AskEconomics/comments/72t4k6/what_happens_when_a_declining_oil_economy_starts/">https://www.reddit.com/r/AskEcon...
Oh, and Yugoslavia at the time was also led by Slobodan Milosevic, a Serbian ethnic chauvinist who liked to set the army on ethnic minorities and boast about how the country was "indivisible."
Where have we heard that before!
Where have we heard that before!
