Rana Foroohar is absolutely right that we should not mistake all the money currently offered by governments and central banks for a cure / FT, 16 March 2020/.
Indeed, we need a wartime stimulus programme that compensates for the loss of private-sector spending. She is also right that we need a major public health spending programme.
Yes, we badly need targeted means to boost demand and restore trust in our economies.
Targeting public health spending and reforming the entire health-care system is definitely right, in more than one way.
The coronavirus has singled out elderly people. They need better protection against present and future attacks
Also, our societies are greying fast, and we need better means to fight against the losses coming with ageing.
Re “How the virus became a credit run”
Governor Matolcsy, MNB, the Central Bank of Hungary
