The Treasury can borrow like mad because its bogeyman no longer exists

“I used to think that if there was reincarnation, I wanted to come back as the president or the Pope or as a .400 baseball hitter,” James Carville, a US political adviser, famously said in the 1990s. “But now I would like to come back as the bond market. You can intimidate everybody.”

Carville’s remarks came after the Clinton administration made a number of proposals designed to stimulate a moribund economy in 1993, only to see the plans derailed by concerns that bond investors would balk at the resulting increase to the deficit. 

Such investors were labelled “bond vigilantes”. Governments

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Alibaba and Amazon borrow furloughed service workers

TOKYO — Online retailers and delivery companies seeing a sudden spike in demand from homebound consumers are borrowing workers from industries battered by the coronavirus pandemic in unusual partnerships that could help ease the pain of unemployment crises.

China, where the virus originated, has been a pioneer. Alibaba Group Holding-owned supermarket operator Hema Xiansheng in February began hiring furloughed employees from 40-plus businesses, including restaurants and taxi companies. This initiative reportedly added more than 5,000 delivery drivers to Hema’s ranks.

Similar arrangements cropped up at other companies with the encouragement of the Chinese government. Authorities say this solved the issue

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