Not gonna lie, I'm coming around to the idea this will be as bad as the financial crisis. The demand shock is so abrupt and severe that tons of businesses are going to die before help arrives. Fiscal stimulus won't reopen bankrupt businesses anytime soon.
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It's so much more complex. You need to bail out millions of businesses as opposed to a handful of financial institutions. While expressly forbidding business and spending from taking place. Trillions of $ need to be helicopter dropped very soon or the economy will collapse IMO.
You drop the helicopter money and then what? Here’s a gift card to Mickey D’s! Oh sorry Mickey d’s is closed and we’ll fine you if you leave your house.
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So everyone doesn't lose their home and business.
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Unemployment insurance? Sure. But it's not clear to me how handing out checks to everyone, both restaurant workers who will be suffering, and WFH tech employees who won't, will solve the problem.
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You pay your rent, your car loan, your credit card. Remember bailouts are all about paying back debt holders. It’s the right thing to do but that’s the system.
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