What happened? It would be so easy to say that everything was down to Covid. But, important as that is, I don’t think that is true. Coronavirus exposed this crisis. It did not, however, make it. The fact that there are countries, from New Zealand and South Korea, to several in Southeast Asia, plus Japan, who have managed this crisis so much better than we have makes it clear that there is something much more to what we are facing than the impact of a virus.
OK, New Zealand. What was New Zealand doing then? Ah, running a budget surplus. Destroying the government created money that is so necessary to economic expansion.
So, err, to not follow Supuddanomics then.