|On one side of this, we most definitely need more stimulus that puts money into the hands of the people who need it now. If this means more money creation, so be it. This is similar to giving the banks and large financial companies trillions during the "great recession". We can't (or maybe I should say 'shouldn't') let the system breakdown significantly, and it appears we are on the brink of this happening. I'm not sure if this is part of the current administration's plan to cause even more unrest, so President Law and Order can look tough? (truly not trying to talk politics but it's hard not to worry that this is part of their view)|
We've seen a lot of 'evils' come out of the TARP and other plans but they do or did seem like necessary evils, as a generality. I think the markets will have a very hard time over the next few weeks if there is not more UE insurance or PPP coming quickly. We can all look back later and talk about how our country had a poor savings rate or whatever other errors in our ways...but for now, right now, I think we continue to do what is the lessor of all of these evils and that's to print money and then pick up the pieces down the road.
I'm very open to other options but we're already facing 10s of millions without health insurance and if we then kick another multiple millions out of their homes... yikes!
So we let main street get some of the trillions instead of the financial system...?!? I don't know. Truly.
I expect everyone to have a strong opinion with matters like this and I hope if others do share here, we can do so with civility!!