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Recession predictions (see NYT) are moving from V-shaped to U-shaped... but to make sure it's not a Greek-style lost decade we need to decide one thing now: no more austerity 1/ ... https://www.newstatesman.com/politics/economy/2020/04/after-coronavirus-crisis-new-struggle-against-austerity-will-begin
2/ For starters the Eurozone governments have to issue a bazooka-sided coronabond; here we need to switch from soft loans to direct stimulus payments... as always neoliberal market-worship is at the root of every mis-step... https://www.newstatesman.com/politics/economy/2020/04/after-coronavirus-crisis-new-struggle-against-austerity-will-begin
3/ The twin present dangers - capital flight from emerging markets and from low-grade commercial paper - can't be stopped by soft loans to the banking system... https://www.newstatesman.com/politics/economy/2020/04/after-coronavirus-crisis-new-struggle-against-austerity-will-begin
4/ Swap-lines, being hailed as "American global leadership" in the FT are not a substitute for co-ordinated fiscal action... @lisanandy says we need a Marshall Plan: a better parallel would be FDR's 1941/42 budget ... https://www.newstatesman.com/politics/economy/2020/04/after-coronavirus-crisis-new-struggle-against-austerity-will-begin
5/ Even now mainstream politicians saying "we cannot let future generations pay for this slump". Yes we can and must. Via debt and monetisation.... https://www.newstatesman.com/politics/economy/2020/04/after-coronavirus-crisis-new-struggle-against-austerity-will-begin
