both the state and large parts of the private economy have adapted to this. even the minimal interest rate hikes of the real interest rate, which has barely made it into positive territory, are putting such a strain on the entire system that everything is under massive tension. i think a normalization of interest rates in europe would bring this system to collapse.
It distorts everything. We had a great discussion about it last year: #296154.
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Ah, rhanks
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