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
Opinion
Opinion
Macroscope
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
