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At the start of the COVID-19 pandemic in March 2020, US Federal Reserve System governor Jerome Powell made an extraordinary declaration: “We’re not going to run out of ammunition.” The central bank stood ready to take any action necessary to stem the mounting economic crisis. Three months later, the Fed injected nearly US$3 trillion dollars of liquidity into the US economy. Such radical action by central banks – quantitative easing (QE) – has its critics on the right and left. Just as striking is that many prominent economists and economic historians have rallied in support of QE in responding to the threat of economic crisis. Their remarkable certainty reveals a story about how our understanding of present crises came to be dominated by lessons drawn from past crises, and in particular the Great Depression in the 1930s and its interpretation by economists, Milton Friedman and Anna Schwartz, in their 1963 book, A Monetary History of the United States. ....
How a radical interpretation of the Great Depression became the orthodoxy behind solving the COVID crisis theconversation.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theconversation.com Daily Mail and Mail on Sunday newspapers.
Pamela Phatsimo Sunstrum (b. 1980, Mochudi, Botswana) creates beautifully diaphanous imagery in a variety of media, including pencil, oil, watercolour, gouache and acrylic paint. The works reference dreams, mythology, historial paintings and personal memories, amalgamating layers of imagery to create emotive, autobiographical paintings. In Storm, Pamela Phatsimo Sunstrum portrays a couple clearly in distress; the woman leans towards her lover in a state of longing while he tries to push away, while behind them turbulent clouds dance around a mountain range, and a surge of people on horseback race towards us. The effect is filmic and mysterious, the muted colours somehow infuse the dramatic imagery with a sense of distance and romance. ....
La déflation : un danger ? contrepoints.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from contrepoints.org Daily Mail and Mail on Sunday newspapers.
Jasper, 7, doing an online physiotherapy session after Neurokinex received a £5k grant from the crisis fund Neurokinex, which supports people of all ages with neurological disorders and paralysis, had to close its gym in Crawley when the pandemic hit. Thanks to a £5,000 grant, it was able to launch virtual physiotherapy sessions for vulnerable people. Seven-year-old Jasper Thornton-Jones, who had a stroke in his spinal cord when he was young, was among those making use of the sessions. His mum and fundraising director at Neurokinex Kate said the money was really important to provide the virtual sessions to prevent people going into hospital with any secondary problems. ....