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Macro Tourist: Helicopter Money Cometh
Read more from The Macro Tourist
Many times when I suggest that authorities will respond to this coronavirus situation with the MOAS (Mother Of All Stimulus), I get lectured how there is no way countries can stimulate because of:
lack of fiscal room
inability of different nations to agree on spending
foreign exchange limitations
insert hard-money gold-standard based economic reason in here
Seriously, the pushback on the idea that governments will do whatever it t
The problem is, throwing money into a petri dish makes the virus grow on the money instead. You can’t cure a virus with money (metaphorically speaking):
https://www.thedailybeast.com/china-to-destroy-paper-currency-from-hardest-hit-coronavirus-regions