Bank of England, Central banks, COVID19, CPI, ECB, Economics, Federal Reserve, Fiscal policy, Government, Inflation, Japan, MMT, Money, Productivity, UK Treasury, US Treasury, Wages
After the Fall of Caffa
While politicians anxiously check the shifting weather-vanes of public opinion and scientists squabble over facts as well as interpretations, central banks are resolutely doing what they do best - wildly exceeding their briefs and trying to drown all problems in a flood of newly-created money. As ever, the underconsumptionists worry that a lack of demand will usher in deflation, in spite of all such efforts. Some of us, however, worry more about what it will do to supply. Here, we explain why.