Worth looking back on this now given that we see the consequences of shuttering the economy and paying people to be idle for 18 months
of course it seemed insane at the time because it was. Even if covid was actually as bad as they claimed (and obviously it wasn’t), it still wouldn’t have justified these measures.
So what comes next? The fed raises o/n lending rates the yield curve is flattened and will likely invert. Recession begins and by January they will be talking about rate cuts to stimulate the economy
Meet the new boss, just the same as the old boss