It’s Not Just the USA: The Economic Instability Is Global

It’s Not Just the USA: The Economic Instability Is Global
Containers are seen at a terminal in the port of Hamburg, Germany, on Nov. 14, 2019. Fabian Bimmer/Global Business Week Ahead
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Commentary 

The actions of the authorities in developed countries, essentially an extension of the Keynesian economic policy discourse, have brought their economies into disrepute. These actions consist of immense stimulus and virtually unfunded government indexation of voter income in the face of expected impoverishment amid COVID, lockdowns, and other global problems.

Russian-born Tomachev is portfolio manager at BlackRock (London, UK), with $500 million in personally managed assets. He also is a visiting scholar at the Stanford Institute of Economic Policy Research, where he researches institutional and political economy.
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