What Happened To The ‘Bring Everything Back’ Function?

One last thing to keep in mind is that while this a-historical structural unemployment arose and kept going a decade ago, it was supposedly “fixed” time and time again by what we were all told was going to be massive, unbelievably powerful fiscal and monetary “stimulus.” When it wasn’t fixed, they blamed us.

Bigger numbers today, sure, but here we are once again in 2021 with what’s being claimed as massive, unbelievably powerful fiscal and monetary “stimulus” offered a second time following 2020’s massive, unbelievably powerful “stimulus” which, by the American worker, left us with the same structural employment problems initially delivered by October 2008’s drastic shock. 

It was supposed to have been easy; turn the economy off, turn it right back on. Beginning 2021, we already know that wasn’t the case. Is it because ongoing COVID, itself a one-off shock meaning the pandemic will eventually run its course? Maybe the end of it this year will bring everything back. Or, since we more and more see the pattern repeating, is the “bring everything back” function of the post-2008 economy still broken? I’d say time will tell, and it will, but time is the problem. 

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