1 - "cumulative number of layoffs in past two months alone is going to hit 1 million employees" The state itself created this situation with the inflation since

1 - "cumulative number of layoffs in past two months alone is going to hit 1 million employees" The state itself created this situation with the inflation since the end of Bretton Woods (specially the inflation during 2020-2021). If you give booze to an alcoholic he will get drunk and afterwards he will have a hangover. 2 - "Shouldn't the government intervene to prevent social crisis?" - Despite warning from people like Hayke and Mises, people tried to do all sorts of state-controlled economies (Germany, USSR, modern USA, etc). It didn't work. Better to drink lots of water, take a rest, and not get drunk next time.