https://www.msn.com/en-us/money/markets/the-cassandra-warning-that-central-banks-are-driving-the-world-s-economy-off-a-cliff/ar-AA1jWJ5l
“These guys went nuts over Covid,” Mortimer-Lee says. “Covid was temporary, but they did things with their balance sheets that were permanent. They did much much more for Covid than they did in the much more severe and long-lasting wake of the global financial crisis.
“Rates to zero, buy every bond that the Government issues – that is why the government deficit in the UK and the US is outrageously high, because money was free. It is like giving a kid a credit card and saying ‘spend as much as you want’. And that is what the governments did.”
Now, the debt is coming due.
Edited by JeffB at 08:14:44 on 12/15/23