Money Talks: The age of free money
Money Talks from The Economist
The Economist
4.4 • 1.2K Ratings
🗓️ 28 July 2020
⏱️ 38 minutes
🧾️ Download transcript
Summary
In response to the covid-19 pandemic governments have pumped huge amounts of cash into economies and the role of central banks is changing dramatically. Host Rachana Shanbhogue asks Henry Curr, The Economist's economics editor, whether this heralds a new era of macroeconomics. Economists Ken Rogoff and Claudia Sahm look at what else policymakers can do—should interest rates go negative? And, banking in the shadows.
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Transcript
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| 0:00.0 | Are you receiving tax credits? |
| 0:02.0 | If so, this message is for you. |
| 0:04.5 | Tax credits are coming to an end, |
| 0:06.3 | and most people will be asked to apply for universal credits instead. |
| 0:10.0 | The Department for Work and Pensions is writing to Tax Credit claimants. |
| 0:14.0 | You won't be moved automatically, so look out for your letter explaining what you'll need to do and by when. |
| 0:19.0 | And there's also lots of support to help you make the move. |
| 0:22.0 | Get ready for your Universal Credit Switchover. |
| 0:25.2 | Search Understanding Universal Credit today. |
| 0:28.2 | Eligibility criteria apply. Every major economic crisis over the last 100 years has revealed what was wrong |
| 0:40.0 | with the old way of doing things. From the wreckage of each crisis, |
| 0:44.0 | a new way of economic thinking has emerged. |
| 0:47.0 | And we're in the midst of a crisis like no other. |
| 0:50.0 | Treasury Department is announcing that the U.S. budget deficit continues to shatter records. |
| 0:55.6 | The bank is announcing today a comprehensive and timely package of measures to help UK households and businesses bridge across the economic disruption caused by COVID-19. |
| 1:05.8 | Governments have cast prudence to the wind and pumped in huge amounts of cash into economies |
| 1:11.2 | and the role of central banks is changing radically. of Economics has failed us for decades and the Great Recession should have been a wake-up call. |
| 1:30.0 | You need to have a longer term plan and just doing fiscal stimulus forever is not a plan. |
| 1:38.0 | You're listening to Money Talks, our weekly podcast on the markets, the economy and the world of business. |
| 1:44.3 | I'm Ratch Nachanbogue, the Economist Finance Editor, and this week the promise and perils of the |
| 1:50.9 | age of free money. |
| 1:53.6 | It is sometimes said that governments wasted the global financial crisis of 2007 to 2009 by failing |
... |
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