I have decided to coin a new word. I want to use it to describe the way that the US is trying to fix its economy, throwing borrowed money at the car giants being one example:
The word I have heard used in the past, mugabenomics, doesn’t quite cover it. In Zimbabwe it was a simple attempt to print money faster than its value was falling. The US have another equally simple strategy, but it’s different. They hope to borrow money to pay off debts then when those debts fall due, they’ll borrow more money to pay them off. I call this vordermanomics*, in honour of the mistress of debt herself, Carol Vorderman.
*I’ve googled it, and it definitely doesn’t exist already.