US Vice-President Kamala Harris hosts a virtual town hall on the US$1.9 trillion American Rescue Plan at the White House on February 18. Government aid is needed but, dangerously, coincides with a growing acceptance of “magic money”. Photo: Reuters US Vice-President Kamala Harris hosts a virtual town hall on the US$1.9 trillion American Rescue Plan at the White House on February 18. Government aid is needed but, dangerously, coincides with a growing acceptance of “magic money”. Photo: Reuters
US Vice-President Kamala Harris hosts a virtual town hall on the US$1.9 trillion American Rescue Plan at the White House on February 18. Government aid is needed but, dangerously, coincides with a growing acceptance of “magic money”. Photo: Reuters
Anthony Rowley
Opinion

Opinion

Macroscope by Anthony Rowley

The world’s free-spending, money-printing spree will cost us dearly in the end

  • The world has mortgaged its economic and monetary future to uncertainty in the hope that the global economy will come roaring back after the pandemic
  • In reality, the cost of these well-intended but ultimately irresponsible policy actions could be inflation, financial crisis and a deeper recession

US Vice-President Kamala Harris hosts a virtual town hall on the US$1.9 trillion American Rescue Plan at the White House on February 18. Government aid is needed but, dangerously, coincides with a growing acceptance of “magic money”. Photo: Reuters US Vice-President Kamala Harris hosts a virtual town hall on the US$1.9 trillion American Rescue Plan at the White House on February 18. Government aid is needed but, dangerously, coincides with a growing acceptance of “magic money”. Photo: Reuters
US Vice-President Kamala Harris hosts a virtual town hall on the US$1.9 trillion American Rescue Plan at the White House on February 18. Government aid is needed but, dangerously, coincides with a growing acceptance of “magic money”. Photo: Reuters
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Anthony Rowley

Anthony Rowley

Anthony Rowley is a veteran journalist specialising in Asian economic and financial affairs. He was formerly Business Editor and International Finance Editor of the Hong Kong-based Far Eastern Economic Review and worked earlier on The Times newspaper in London