It doesn't have to be one or the other. 100% agreed that fed action via bond buying has been excessive as well. In a healthy economic system, there need to be

It doesn't have to be one or the other. 100% agreed that fed action via bond buying has been excessive as well. In a healthy economic system, there need to be "down" cycles where overleveraged or poorly run businesses fail. If the government will backstop all investments, then why not leverage up as much as possible and take on excessive risk? Those that have been financially prudent have been punished consistently. I wonder how much of the fiscal/monetary response is really driven by personal bias towards protecting their own portfolios. Helicopter money is certainly good optics in the short-term, but terrible governance on a longer timescale.