Global total govt bond issue: $60tr

US govt debt $21tr (FT 03/03/21)

Before the global financial crisis in 2008, the Fed held around $900 billion worth of financial assets on its books. That rose rapidly to more than $4 trillion as a result of quantitative easing and then rose again to more than $8 trillion in 2020 and is now on course to reach at least $9 trillion by the end of this year. (Nick Beams, wsws, June ’21)

UK Government

Covid pandemic response – £376bn (source: Elgot, Walker and Lawson, 2022)

Energy crisis – forecast £187bn

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