Global economy: The week that austerity was officially buried
“This was the week we witnessed the funeral of austerity. Those who used to worship at its altar now urge countries to throw caution to the wind. Fiscal orthodoxy, practised over decades since the debt crises and inflation of the 1970s and 1980s, has been replaced with fiscal activism.”
USAGOLD note: This is not a minor change – not for the U.S. economy (Please see the post immediately below), the global economy, or with respect to how you structure your portfolio for the future. There is little doubt how the upcoming deficits are going to be financed.