How do the shutdowns increase ageism? Because millions have arguably been thrown out of work in the name of protecting the elderly. The resulting economic devastation comes at the expense of younger workers, parents, students, and families.
In this crisis the money supply has already increased far more than during the last crisis. But it's hard to say when this will produce inflation because we're still in the midst of a demand shock and a collapse in oil prices.
Governments can increase GDP numbers simply by spending more, and this can reduce debt as a percentage of GDP. But what if we calculate GDP using only private spending?
More money creation doesn't necessarily mean higher consumer prices. But, if production is falling while consumers use their stimulus checks to buy food and clothing, we could see noticeable price inflation.
The oil industry became one of the main areas of malinvestment in the years of massive liquidity and low yields. This perpetuated excess capacity and kept inefficient companies unnecessarily alive.
