Why state stimulus measures are like (bad) karma
For every year of stimulus (which isn’t really stimulus), there is an equal and opposite year of debt payback
Governments around the world have embarked on the greatest financial experiment of all time. That experiment has been labelled by the media as “stimulus” and involves a mixture of government aid, tax relief, unemployment payments and central bank money manipulation on the grandest scale imaginable.
We’re tripping over the financial crisis can that was kicked down the road in 2008/2009, but instead of addressing the issue of national profligacy, governments are doubling down...