Doing "whatever it takes" to save the global economy from the coronavirus pandemic is going to cost a lot of money. The US government alone is spending a few trillion dollars, and the Federal Reserve is creating another few trillion dollars to keep the financial system from collapsing. A custom Bloomberg index measuring M2 figures for 12 major economies including the US, China, euro zone and Japan shows their aggregate money supply had already more than doubled to $US80 trillion from before the 2008-2009 financial crisis. These numbers are so large that they no longer have any meaning; they are simply ... (full story)