Governments around the world plan to encumber their societies with further twists to the failed tax policies that constrain their economies. Outcome: exit from the Corvid-19 pandemic will further reduce productivity. The land-driven boom is on course for the bust when house prices peak in 2026. Post-pandemic reactions in the markets will aggravate the trend. Investors will minimise risk by placing money in rent-generating assets rather than job-creating enterprises. People who suffered most from the virus will endure downward pressure on incomes. And the global trading system enters a hazardous future.
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