Originally Posted by
Aaron
What a massive overreaction the covid response was. I still support the first lockdown decision and went along with the others which were throwing more and more money to people each time. Wage Subsidies, RSP, CSP. The LSAP funded it all and the FLP helped to put a rocket under the housing market.
I went along with the other lockdowns but in hindsight the other lockdowns were a total waste of money and everyones time. I was going to say money that we have to pay back but I am not sure I believe that, as inflation will take care of some of it. At 7% inflation for 5 years thats 35% of your loan sorted. Also when you can print billions and billions more does repayment even mean anything to a govt. Not the US anyway, no way they will repay their debts.
There is also the time and disruption to all our lives when eventually we all just went back to normal and some people died of the virus and no one really cares. I did see an article about a slightly higher death toll due to covid but it wasn't anyone I know so didn't care or read the stats. (Could check on Snoopys tally in another thread)
They did what they thought was best at the time so hard to judge them as it is all easy in hindsight.
I only hope Adrian now realises his only job is price stability, not saving the housing market, stock market or everyone else, with crazy money printing and ridiculous suppression of interest rates.