Remember when we all thought how idiotic the idea of the Federal Reserve buying stocks, bonds, corporate debt, ____________(fill in your own here) was? i.e, It’ll never happen.
Remember when the idea of printing money to facilitate the “Helicopter theory” was even more ludicrous than the idea that the Fed. would monetize the debt?
Remember when the idea of locking down the largest economy in the world while replacing jobs and paychecks with unemployment insurance and moratoriums that enabled all past due debt to be regarded as current (aka as forbearance) near indefinitely was simply the most craziest of crazy ideas?
Remember when burning and looting was once known as burning and looting, not “Peaceful demonstrations?”
Remember when the crazy notion of those such as Paul Krugman pushing the idea that the Treasury should mint a “Trillion Dollar Coin” and the Fed should buy it and just keep it in a “safe place” was even more crazy than the reality that Mr. Krugman was actually a Nobel Prize winner?
Oh, and just in case you forgot about that “coin?” It did finally get made, but as you may now know there’s an issue with making any types of actual coinage today. But that hasn’t prevented the Fed. from filling all that “crazy.” For those “coins” are in plain site and reported on daily and each has a name.
Apple™, Amazon™, Microsoft™, etc., etc., etc.
Let’s just call it what it truly is, as I opined now going on 10 years.
My how far we’ve come in just a decade, no? Just imagine where we’ll be in 10 more at the current run rate. If you dare.
© 2020 Mark St.Cyr