The United States today not only looks ill, but dead broke. To offset the pandemic-induced “Great Cessation,” the US Federal Reserve and Congress have marshaled staggering sums of stimulus spending out of fear that the economy would otherwise plunge to 1930s soup-kitchen levels. The 2020 federal budget deficit will be around 18% of GDP, and the US debt-to-GDP ratio will soon hurdle over the 100% mark. Such figures have not been seen since Harry Truman sent B-29s to Japan to end World War II.
Assuming that America eventually defeats COVID-19 and does not devolv...
The article you requested can be accessed only by subscribing to the online version of The Baltic Times. If you are already subscribed to The Baltic Times, please authorize yourself.
In case you don't have a subscription yet - please visit our SUBSCRIPTION