Deficit spending is not a new strategy. Financial crashes are often precipitated by short term factors eg inability to come up with enough capital, cascading f

Deficit spending is not a new strategy. Financial crashes are often precipitated by short term factors eg inability to come up with enough capital, cascading failures as financial firms fail and spook all investors. The Fed has essentially acted more proactively to assure the market that it won’t let this happen. If the fundamentals of the system are broken, there isn’t much even the fed could do. That doesn’t seem to be the case (modulo things the Feds cant control eg Foreign Wars).