Kiwi Farms

What's going to happen to the economy?

Yesterday I was talking to my neighbor about the Federal government's response. He's one of those Libertarian doomers who is kept awake at night by fantasies of Weimar hyperinflation and evil scheming Fed Reserve chairmen scheming to destroy the economy for a lol. So, his view on it is Great Depression 2 and very heavy inflation.

I'm much more optimistic. I'm willing to take on a fair amount of faith that the last bailout, whether or not it was the best decision overall, was at least effective in its primary goal of preventing Great Depression 2, as evidenced by the fact that Great Depression 2 didn't happen. Since the government has already had experience in running such a program, that should hint that it'd work even better this time. But, on the other hand, the situation wasn't near as severe. Regarding the inflation point, I think I heard somewhere on here that other countries are rushing to take US dollars, which is keeping that from being a big issue at the moment, but at some point they're going to not want US dollars.

The other issue is that this is more like the economy being put on pause than it just collapsing on its own. Now, pausing it isn't not going to have effects, but if businesses just hire back the workers they're furloughing (maybe there ought to be a moratorium on lay-offs), then you'd think it should be able to pick back up.

Biggest issue seems to be that this is completely fucking up the service sector, which is a problem when your postindustrial economy is based around services.
Also, Trumpbux is basically just a way to level access to goods. It's not going to magic toilet paper into existence, or any of the other products people want. What it'll do is basically cause shortages of goods, where it comes down to luck, rather than previous savings, as to whether or not you get the goods you need. For purposes of keeping the very bottom afloat that makes sense, but I doubt that any of the non-Proles out there are going to genuinely benefit much from it.