The era of ‘COVID-nomics’ has now been entered

The Australian’s Adam Creighton says we are in a new era now of “COVID-nomics” where money doesn’t matter and “everything is governed by feelings”.

“And I think we’re seeing this across all of the states,” he told Sky News host Peta Credlin.

“They’re taking advantage of the fact that the Reserve Bank is creating money and is buying their bonds and so the cost of state debt is very cheap”.

“And so, from the point of view from state governments, it makes sense to borrow a great deal,” he said.

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