Remember all the glowing reports about "microfinance"? Remember how it was supposed to allow poor people drag themselves up out of poverty? Now, remember how we learned, over the years, to NEVER believe ANYTHING the "free-marketeers" say?
Learn it again: Suicides in India Revealing How Men Made a Mess of Microcredit.
Follow the link to the original.
Once again, there is no magic way for an entire population mired in poverty to all drag themselves out if they all borrow small (though unrepayable) sums, and try to make a living making stuff no one really needs, or can make themselves. Especially when they have to sell it to each other.
PCE Measure of Shelter Slows to 5.8% YoY in February
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Here is a graph of the year-over-year change in shelter from the CPI report
and housing from the PCE report this morning, both through February 2024.
[imag...
2 hours ago
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