Analysis by Charles Riley, CNN Business, on April, 2020 --
"Governments are launching one rescue package after another in hopes of preventing economic catastrophe as the coronavirus pandemic rampages around the world, shutting down entire industries and costing tens of million of people their jobs."
"In most countries, political opposition to spending increases funded by borrowing has vanished in the face of a potential global depression...."
[Much more at:
https://www.msn.com/en-us/money/markets/analysis-coronavirus-stimulus-will-take-national-debt-to-wartime-levels/ar-BB127L56?ocid=spartandhp ]
= = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = =
Comment by the Blog Author
There is another alternative path after the developed nations balloon their debt to buy their way out of a depression. The last time the rich countries went broke, around 1931, the depression lasted for a decade and evolved into a world war. The developed country with a gold standard and the least debt won that war.
No comments:
Post a Comment