By Lee Harding
The era of low interest rates and inflation has ended, and now is the time for governments to show restraint. But recent precedent suggests that’s unlikely.
We don’t know what that amount is now, but we can expect it to keep growing without a resolute commitment to balanced budgets. Unfortunately, it’s far easier for governments to keep their unionized workforce happy and shrug their shoulders when taxpayers complain.Article content gross domestic product growth to drop from 5.7% in 2021 to around 2.9% this year and next. The authors expect damages from the pandemic and war in Ukraine to reduce per capita income growth in developing economies to nearly 5% below pre-pandemic levels.tap here to see other videos from our teamHigh inflation and stagnant economic growth also occurred in the 1970s, when energy costs and public debts mushroomed. The problem this time around is that the phenomenon could stick.
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