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Bloomberg/Enda Curran and Garfield Clinton Reynolds
“After the virus, financial markets will never be quite the same again. Public officials have raced to put a floor under the stricken world economy in an intervention so far-reaching it’ll transform the very core of capitalism itself for years to come.”
USAGOLD note: One analyst says that a big change is that central banks and governments are unlikely to scale back their presence in the economy once the crisis passes (assuming it passes). That’s not new, in and of itself, but the sheer scale of their involvement is the baseline threat to capitalist markets and free enterprise. If we were to compare this era to another, 1933 and Roosevelt’s New Deal come to mind.
Repost from 5-7-2020