these things a good while back as well.
After studying Quantitative Easing during the financial crisis my summary was pretty straight forward and stark and went something like this:
Okay great, you put a bandage on something that needed a tourniquet. (QE during the financial crisis). So what happens the next time you need a tourniquet? (ie, Covid).
As this article states, There are just no good options left and central banks and fiat currencies have pretty much ran there course
"...we’re fighting with our hands tied behind our back, because meaningful interest rate increases – which are kryptonite for inflation – are currently impossible...."
"In 2007, the federal government had borrowed a total of $9 trillion and paid about 5% interest on it, with an annual interest total of $450 billion. Today, it owes $29 trillion at 1.6%. Annual interest: $464 billion. It’s a neat trick racking up debt without paying more for it, but it leaves us vulnerable. For every one-percentage-point increase in rates, the interest payment will go up by $290 billion or more per year. That’s nearly half of the annual U.S. military budget – unless we start reducing the debt.
This risk is multiplied by other forms of debt, including mortgages, car loans, student loans, municipal and corporate debt, and financial leverage. Altogether, the total is in the ballpark of $100 trillion, much of which needs to be rolled over or refinanced on a regular basis, just like the federal debt. At least $2 trillion of this belongs to "zombie companies" that cannot make ends meet without borrowing more at ultra-low rates, and there are many near-zombie companies yet to come out of the woodwork.
As a result, the Fed has largely lost control of its most powerful tool against inflation."
The Fed Can't Control Inflation Without Massive Debt Relief
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