By David Uren, includes “Financial Times chief economist Martin Wolf has warned that US President Joe Biden’s big-spending stimulus program risks generating a burst of inflation that could lead to a financial crisis and deep recession before the 2024 presidential election. This would bring the re-election of a triumphant and revanchist Donald Trump and spell the end of liberal democracy, according to Wolf … Even the stalwart Democrat-leaning former US Treasury secretary, Larry Summers, has criticised the Biden government’s outlays as ‘substantially excessive’ …"
Read the full article on: Australian Strategy Policy Institute