Posted on 2020-03-19 17:41:00
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All the discussion of the current economic decline and whether the stock market has bottomed is missing the point. The damage being done now by Federal Government spending and Federal Reserve money printing to cushion the immediate impact has adverse consequences worse than the Coronavirus.
The money the Federal Reserve is printing isn't going to have value. It isn't going to buy anything. Prices are going to skyrocket. And in fact, this coronavirus is accelerating that process because it's reducing the supply of goods available to buy.