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Scoop.it!
If economies recover and stimulus turbocharges pent-up demand, a lot of bank credit could result from central bank money 
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Scoop.it!
In parts of California there are plans to give people no-strings-attached cash, whether they have a job or not. It's hoped these trials could be the solution to a potentially jobless dystopian future.
Graham Watson's insight:
The Economist looks at the notion of a universal basic income - in Stockton, California, a city with above-average unemployment, the Mayor has introduced an experiment to give 100 people $500 per month.
It's seen as way of getting money into the hands of the working poor, and reducing poverty, in a world where the future of work seems increasingly insecure.
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Hans Werner-Sinn takes a common theme in contemporary policy debates and wonders about the risks of inflation in Europe. I have to say I remain unconvinced. It's an interesting argument that introduces the term monetary overhang - something I haven't heard since I took a paper on Soviet economies and their marketisation (yes, I am THAT old).
However, I don't think that the prophets of doom are correct - for now. The fear of unemployment is still high among certain groups; I suspect that the pandemic will have increased precautionary saving; some will have tried to protected the real value of their wealth during the pandemic.
But is inflation going to let rip at some point? Perhaps, but with high levels of government borrowing across the world, I suspect that a few government might be wondering whether a higher inflation target, which helps reduce the real value of their debt, might not be a bad thing.