Buffoonberg double faults stimulus

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The pick of the Aitken brothers makes good sense today, at the AFR:

James Aitken says central banks are doing the right thing as they struggle to respond to market turmoil caused by the coronavirus – and wait for medical and fiscal developments to come to the rescue.

“Central banks cannot print medicines, or vaccines or hospital beds,” Aitken told The Australian Financial Review in an interview on Tuesday. “They are creating an increasingly large bridge until the medical and fiscal response arrives.”

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.