A lot of this problem is from DEBT! It’s just too easy to go into DEBT! Most lending rates are cheap, and a loan is convenient, and in some cases necessary nowadays, for making payroll, and not only the small businesses, but their landlords are in DEBT.
When some major black swan crisis like this pandemic happens, and so many people get idled, suddenly lots of people cannot pay off debt, the bankruptcy courts will eventually get clogged, and our economy is at risk of collapse, all because of all the damned individual, business and government DEBT!
Perhaps when this crap is over, we should disband the Fed (they’re useful, but probably not necessary) and go back to some solid, metals-based standard for money, in order to make it MORE DIFFICULT for so man people to GO INTO DEBT!
“Perhaps when this crap is over, we should disband the Fed “
In the olden days Congress would be in charge of the currency.
As bad as the fed is, I prefer them over Congress.
And they are really friggin’ bad.
I think all the printing is a bad idea and will further diminish the value of every dollar.
In the mid term, the purchasing power of the dollar will go down 40%. Long term? Who knows...
The best people can do now is try to get out of personal debt and have their money in something substantial, like land.