Writing in Foreign Policy, economist Dambisa Moyo paints a nightmare scenario of what is waiting for the next U.S. President:
One does not need to be prescient to understand that the consequences of the U.S. government’s financial response to the coronavirus will be momentous. The U.S. Federal Reserve recently announced nine new “facilities” (lending programs) and its balance sheet has surpassed the $6 trillion mark. Even the maniacal asset-buying of the post-financial crisis years...
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The United States has serious debt problems that have not been addressed since the financial crisis shook the world a decade ago—they have actually been compounded.