Michael Burry, of The Big Short fame and also medical school grad, called this stock market selloff and shorted stocks in size has been offering up takes that basically agree with what I think. He says the lockdown is insane. The cost outweighs the benefits by orders of magnitude. The people chortling that Trump is an idiot for pushing a drug that might work and has few negatives are idiots.
And the relevant part of this thread is he says the Fed should stop paying interest on reserves. A big reason QE never caused inflation is because banks just hold the cash instead of lending it. The Fed likely wouldn't have needed to expand their balance sheets to this degree if they weren't paying banks to not lend money.
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