As far as I can tell, the political class decided that no cost was too high to avoid being the one left standing when the music stops, after the '08 crash. So w

As far as I can tell, the political class decided that no cost was too high to avoid being the one left standing when the music stops, after the '08 crash. So we'll just inflate until someone gets unlucky and is the one stuck with the blame for a massive crash rather than 2-3 smaller recessions inconveniencing some other politicians, who are actually the ones to blame for the whole situation. [EDIT] actually, arguably, the '08 crash was already an in-the-works recession delayed and made worse by exactly this kind of thing. Another possibility is that someone realized something really awful, like that the global economy had shifted such that anything like the "asian contagion" crash (no, nothing to do with COVID[0]) can't be contained next time, so they're desperately trying to keep the plates spinning until they can figure something out, because they expect the next major crash will be a true global depression and don't know how to stop/mitigate it if it's triggered. [0] https://en.wikipedia.org/wiki/1997_Asian_financial_crisis https://en.wikipedia.org/wiki/1997_Asian_financial_crisis