Economic and financial impact of the Covid-19 pandemic

William White was interviewed on March 16 (see 4 minute mark) by “7:30”, Australia’s TV News and  Current Affairs flagship. He suggested that the global economy had been an accident waiting to  happen, due to the many “imbalances” that had been allowed to build up over many years. If the prices of financial assets were to fall significantly, it was very likely that house prices would also be affected. It was unrealistic to think that marginally lower interest rates could suffice to sort out these deep seated problems.