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Coronavirus bailouts: governments and central banks can’t keep throwing money at the problem

A comfort in these dark days of pandemic and recession has been the presence of governments and central banks with apparently bottomless purses. Without this largesse, the world economy would be in a depression and in the midst of a savage financial crisis. But how long this fiscal and monetary support can continue if the pandemic flares up, or enters a second wave with no medical solution, is a very real risk. We used to believe that governments had two revenue sources: taxes plus borrowings…

Read the original article at South China Morning Post

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