Liquidity traps?
Everyone knows Keynes's theory, but there is actually a premise for Keynes's theory to be really implemented. Recently, everyone has talked a lot about liquidity traps, and the currency is still maintaining a high-speed supply of double-digit hundreds of points. But the PPI CPI remains at a very low level, for example, now the PPI is negative year-on-year, and then the CPI is only 0.2%, and there is almost no billing. This is a conceptual reference to Keynes's theory, which is not, it is a real liquidity trap.
And I don't think that the definition of this liquidity trap is that monetary policy and credit policy are ineffective, or that interest rate cuts have no stimulating effect on the economy. What is this most essential thing? The reason it is invalid is because there is no longer a Combo cycle. The whole world is now globally integrated, and the global economy is united, and there are no new growth points and no new opportunities in the world.
The information industry revolution, these big opportunities for upgrading such productive forces have not appeared now, even if you give it more money, it does not know where to go, and it is useless for money now. This is a deeper essence of the liquidity trap. Is it added to 60 percent on the Turkish side, that's, you look at Japan's negative interest rate 0 interest rate, I feel that the difference is actually not too big.
Keynesian theory itself is false and doesn't really mean anything. It's just that the industrial revolution or the information industry revolution, the Combo cycle can be sustained, Keynesian theory is, now there is no Combo cycle, then it will definitely be invalid. So don't talk about liquidity traps, in fact all countries are facing this problem now. Not only do we have, don't look at what the United States seems to be doing now, anyway, the next few years are not very good, as long as you know that this liquidity trap is now global, it may appear in the next few years. All countries are not just us,
