WOW - that is a positive form of stimulus - for tax payers only too.The concepts of Modern Monetary Theory (MMT) are starting to filter down from the academics to practicing government and also to the understanding of ordinary folks, even Al who is very smart probably has it ticked off.
Put simply Governments can create as much (fiat) money as they like - use it to support the old, the frail, the sick, the unemployed, the students and the young -
so long as they don't create inflation. They can stimulate the economy encourage research and investment and the activities of marginal interests in nation building tasks - and they can repay any debt incurred in their own denomination fiat money.
They control inflation by maintaining low, even negative, interest rates, and imposing taxes. But does it discourage savings and destroy the value of existing savings? IMO only hoarding cash (under the bed or in the bank) is discouraged - not savings by investing on the stock market and in physical earning assets (same thing).
Where does the money go? Upwards, ultimately into the hands of the top 10% - 5% - 1%. But along the way it will fall into the hands of the worthy, like us, including those ICG shareholders who take up the shortfall. And it will increase the value of GOLD.
See
https://en.wikipedia.org/wiki/Modern_Monetary_Theoryhere is a snip, the rest might only be of value as Alpaca chow.
What happens next??
The study of pandemics is interesting - search Wikipedia for them. Most since the ones in Greek and Roman times had a huge impact on society - I have formed the opinion that covid will completely change modern society (its even too late now for vaccines and new treatments to stop it) so long as politicians understand MMT, it will come to the rescue.
So do your bit guys, and take your shortfall. IMO, of course. DYOR
