Stimulus this time round will not have any meaningful impact at all. Money is already cheap and readily available.
Reducing interest rates, or buying bonds and mortgages to reduce rates and pump liquidity into financial systems, can’t re-open factories whose supply chains have broken, or convince people to travel or congregate at sporting events, concerts, school, Uni, church, pubs, restaurants etc.
Stimulus won’t restart travel, open country and city borders or help factories suffering from shortages of component supplies, or most importantly workers.
This is not the GFC of 2008, it’s a virus pandemic.
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