Trillion dollar budget deficits now loom in the United States. At 5-5.5 per cent of GDP, these will be the highest peacetime deficits since the end of the second world war, save only for the deep recession periods of 1981-83 and 2008-09…. Read on….https://www.prospectmagazine.co.uk/blogs/george-magnus/the-stock-markets-historic-fall-was-likely-noise-the-real-story-is-the-growing-us-deficit
George Magnus is an independent economist and commentator, an Associate at the China Centre, Oxford University, and an adviser to some asset management companies.
He is a regular contributor to the Financial Times, Prospect Magazine and other written media, and appears regularly on BBC TV and radio, Bloomberg TV and other outlets.
- Josephine Moulds, The Daily Telegraph
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