Follow me on this:
1. Fed pumps cash into the economy under guise of ‘liquidity issues’ (everyone is selling their stock and want cash)
2. Interest rates already zero.
3. The pandemic passes. Many businesses, global to Main Street, are on their ass.
4. Banks can lend, at a super cheap cost to themselves, to ‘save’ these businesses.
5. United Airlines, a Wells Fargo company. Ford Goldman Sachs. Your local pub, in debt to Bank of America until 2145.
Only industries likely immune are retail, logistics, medical, ag, some manufacturing.
The 2024 race will be against the incumbent, President Dystopia — unless the next president is willing to act decisively to crawl it back ASAP.