Rather than spurring real economic gains, the Federal Reserve’s unorthodox QE program has supported and extended the debt grid and generated asset exuberance. But this can only go on as long as there's capacity for more debt.
We need to move beyond the stale platitudes of trying to fix politics in DC. The chattering class’s lamentation about the divisiveness of politics is frankly silly. In some ways, polarization is our friend.
When governments and central banks announce massive stimulus packages at the very beginning of a crisis, they bet on a speedy recovery and a return to normal as if nothing had happened. This is far from the case.
From medical practices to grocery shipments, governments are loosening restrictions in order to keep goods and services affordable. But if these restrictions are unnecessary now, why claim they are ever necessary?