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The stimulus packages provided for far more than just bank lending. Read some of the bills, there were a lot of projects and spending programs. Regardless, eve

The stimulus packages provided for far more than just bank lending. Read some of the bills, there were a lot of projects and spending programs. Regardless, even it if had only been for banks. Anyone was able to borrow nearly interest free money to turn around and spend. This means anyone (that was wealthy enough) could take their $100k and borrow an additional $X00k they used to purchase assets. When half the purchasing power of the country does that you suddenly have 2x inflation as there are 2x more purchasers (or 2x more money).

ClumsyPilot 4y ago
> anyone (that was wealthy enough) could take their $100k and borrow an additional $X00k they used to purchase assets Do wealthy borrow money to purchase perishable food? We've been through this, we've printed money in 2008 and food prices did not increase. You cant blame every economic problem on money supply
- Xeoncross 4y ago
  Food prices did increase after 2008, but it wasn't overnight because the QE wasn't overnight. Between 2008 and 2015, the Fed’s balance sheet, its total assets, ballooned from $900 billion to $4.5 trillion. Likewise, food prices also increased. However, this time we injected over $6 trillion in only a few months. A much faster rate of growth resulting in quickly rising inflation.