We got our inevitable recession out of the way in this process, in a rapid sharp action. That of course is not meant to trivialize the terrible pain of going th

We got our inevitable recession out of the way in this process, in a rapid sharp action. That of course is not meant to trivialize the terrible pain of going through this pandemic, nor the depths of the hit we're taking (the recession we would have endured would have been far less painful, including to employment). The economy will gently boom in the years following the distribution of a vaccine. Start to finish the Fed and US Government is going to pour enormous amounts of liquidity into the economy the likes of which has never been seen before in human history. There are no restraints at this point, no serious blockers saying don't do it. While everyone is acting fiscally wild, we should call up the Japanese and do a financing and technology deal with them, to build regional high-speed rail across the US and complete it this decade. It's a worthy infrastructure project that can produce a lot of jobs and economic floatation action (the airlines won't appreciate it). Make it a federal project, and aggressively swat away regulatory, environmental and NIMBYism delays. The Federal Reserve has crossed the rubicon (they've fully breached old lines in the sand that quasi kept them a layer or two removed from putting their hands on the real economy), we might as well do the things now that we should have done previously. They can snap their fingers and finance this project in the coming years. We should probably also go ahead and stop pretending the Federal Reserve isn't now a big corner of our Treasury and merge the two (won't happen officially, but it has happened de facto). There's no going back, not with the pile of debt we'll have coming out of this. It's perma QE all the way for the next 20-30 years.