As the second wave of the pandemic crashes through the US and Europe, it is apparent that even with vaccines on the horizon, the world is going to be mired deeper in deficits and debt than anyone could have foreseen and for longer than could ever have been anticipated.
Even in economies where the virus seems to have been contained, like Australia’s, it could take a generation to restore debt levels to their pre-pandemic levels relative to their GDP.
By 2024, the federal government’s net debt could reach $1.4 trillion. In Victoria, the state government’s budget forecasts show its net debt blowing out to $155 billion over the next three years, or nearly 30 per cent of the state’s economic output. Read more…..
Chart of the Day
Icarus TV
Dr. Andrew Huberman is a neuroscientist and tenured professor in the Department of Neurobiology at Stanford University School of Medicine. He is an expert in neuroplasticity, and his work in the Huberman Lab has been featured in Science, Discover, Scientific American, Time, the New York Times, and countless peer-reviewed journals.
