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>A lot of people comparing this to 1929, * Greatest downturn since the depression doesn't imply the mechanics are the same. It's a comparison of scale. * Unl
by aguyfromnb 7y ago
>A lot of people comparing this to 1929,
* Greatest downturn since the depression doesn't imply the mechanics are the same. It's a comparison of scale.
* Unlimited QE isn't free. TINSTAAFL.
* The stock market is not the economy.
* The economy isn't the US economy (it is global)
I'm a proponent of what the Fed, and central banks around the world, are doing. But I feel like people are viewing this as a "pandemic passes, back to normal" situation. There were cracks beginning to show in the late cycle of the economy for over a year. The pandemic just happened to be the exogenous shock, and a bad one at that.
Remember, we just got through a decade long bull-market that mostly benefited the asset-rich classes. We have unbelievably polarized politics around the world. There's evidence of corruption in all of our institutions. Are we really ready to handle this?