3 ms·

Somehow I feel like we're still being let off easy. Antibiotics still work for the vast majority of bacterial infections. The U.S. government has (at last) come

Somehow I feel like we're still being let off easy. Antibiotics still work for the vast majority of bacterial infections. The U.S. government has (at last) come together-ish to fight this. The U.S. dollar is still the world's reserve currency via Bretton Woods and we can print money to alleviate pain and suffering. So...what will happen to us when these facts may no longer hold true? I don't think this pandemic is do-or-die. This pandemic is just a stress test for what's to come.

axaxs 7y ago
I think your last point is perhaps most important. The way the fed is printing cash, I feel the dollar would have absolutely tanked were it not the dominant world currency.
- yingw787 7y ago
  Right?? 1.5T as a knee-jerk reaction to a market dip? Did they even consult Congress w.r.t. liquidity injection via fiscal policy? We should have rolled back QE years ago and suffered the pain of a small or medium recession, but nobody wanted to go for it because recession bad. Now we have a big recession looming and risk running out of tools, and I don't think this is the biggest recessionary event possible.
  - josh2600 7y ago
    There is always jubilee. This essay is a little bonkers but also has a kernel of wisdom in it. https://mailchi.mp/4c8646c6a609/crypto-trader-digest-1307893?e=77d1d09153 https://mailchi.mp/4c8646c6a609/crypto-trader-digest-1307893... I am a big fan of Arthur. He’s a little hard for people to stomach but super smart.
  - axaxs 7y ago
    Even before the 1.5T, the fed has been pumping imaginary money, especially to the repo market hoping they'd get it back. I disagree that this isn't the biggest recessionary event. Never in my lifetime, or even my parents, has EVERYTHING shut down at the same time. This is economically bad. We're promising to help the affected industries, which is more cash printing. The USG cannot support the entire economy for months. Either the market or the government has to break, and I feel it's gonna be the former.
    - yingw787 7y ago
      Dude...don't jinx us man... On a serious note, there are many, many things we're doing well on that might change, the financial aspect is only one of them. If we're doing bad, we could be doing so, so, so, so much worse. I can't stress that enough.

axaxs 7y ago

I think your last point is perhaps most important. The way the fed is printing cash, I feel the dollar would have absolutely tanked were it not the dominant world currency.

yingw787 7y ago
Right?? 1.5T as a knee-jerk reaction to a market dip? Did they even consult Congress w.r.t. liquidity injection via fiscal policy? We should have rolled back QE years ago and suffered the pain of a small or medium recession, but nobody wanted to go for it because recession bad. Now we have a big recession looming and risk running out of tools, and I don't think this is the biggest recessionary event possible.
- josh2600 7y ago
  There is always jubilee. This essay is a little bonkers but also has a kernel of wisdom in it. https://mailchi.mp/4c8646c6a609/crypto-trader-digest-1307893?e=77d1d09153 https://mailchi.mp/4c8646c6a609/crypto-trader-digest-1307893... I am a big fan of Arthur. He’s a little hard for people to stomach but super smart.
- axaxs 7y ago
  Even before the 1.5T, the fed has been pumping imaginary money, especially to the repo market hoping they'd get it back. I disagree that this isn't the biggest recessionary event. Never in my lifetime, or even my parents, has EVERYTHING shut down at the same time. This is economically bad. We're promising to help the affected industries, which is more cash printing. The USG cannot support the entire economy for months. Either the market or the government has to break, and I feel it's gonna be the former.
  - yingw787 7y ago
    Dude...don't jinx us man... On a serious note, there are many, many things we're doing well on that might change, the financial aspect is only one of them. If we're doing bad, we could be doing so, so, so, so much worse. I can't stress that enough.