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Pandemic sees global economic stability generations away

Michael McLaren

Michael is joined by Stephen Bartholomeusz, Sydney Morning Herald Senior business columnist, who writes that the COVID pandemic is sending global debt ever higher which will see economic stability generations away.

 

‘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.’

 

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Michael McLaren
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