Terence Corcoran: Trillion-dollar black holes - Full Comment

Terence Corcoran: Trillion-dollar black holes - Full Comment:

There is much concern in financial markets about exit strategies. How are central banks and governments going to dig themselves out of their multi-trillion dollar monetary and fiscal stimulus holes? Frankly, it’s too late now to start worrying about that problem, which in any case is easily fixed: tax increases. Far more worthy of attention, before it’s too late, are the new mile-deep spending regimes governments are preparing to cover the cost of new climate change policies. And guess how they will get out of those trenches."