Below is an extract of a post published on Guardian titled "Peacetime constraints ditched in the war for economic survival | Larry Elliott"
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Make america great again.- Donald Trump.
What counts is not necessarily the size of the dog in the fight. It's the size of the fight in the dog.- Dwight D. Eisenhower.
The best executive is the one who has sense enough to pick good men to do what wants done, and self-restraint to keep from meddling with them while they do it.- Theodore Roosevelt.
Discipline is the soul of an army. It makes small numbers formidable; procures success to the weak and esteem to all.- George Washington.
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Via: Guardian
The Covid-19 outbreak is forcing politicians and central bankers to set aside ideology and orthodoxy to prevent a global collapse Coronavirus – latest updates See all our coronavirus coverage It is as if the lights have been switched off. The global economy has been plunged into darkness as countries hunker down in response to the Covid-19 pandemic. Most recessions develop gradually over time. When the last one started in 2008 it took the Bank of England six months to spot it. This time it is different. Then it was a financial virus, this time it is the real thing. Commentators often say the economy is hitting the wall or is falling off a cliff on the weakest of evidence. Today the cliches are horrifyingly true. 28 October 1929 The original Black Monday. The Dow plunged 13%, then a record, as the Great Wall Street Crash ended the bull market of the 1920s. For now what should be scaring policymakers is the risk that the world economy is heading for the Germany of 1932 Related: The Federal Reserve can’t save us. Can Trump fix the impending global recession? 28 October 1929 The original Black Monday. The Dow plunged 13%, then a record, as the Great Wall Street Crash ended the bull market of the 1920s. Continue reading…
