Kevin Duffy on how to wreck an economy in 5 easy steps

2020 is a lesson in how to wreck an economy in 5 easy steps:

1) Blow a monster bubble with a decade of zero interest rate policy (ZIRP).

2) Have the media incite a panic over a bad novel case of the seasonal flu. Have state governors use this as a pretext to shutdown a third of the economy.

3) With the social fabric frayed, have the media segue to racial protests. Allow bad apples to destroy property and have the police stand down while the mob takes over.

4) Pass trillions in money printing and stimulus, preventing the market from adjusting to rapidly changing events. Incentivize unemployment by paying people an extra $600 a week to do nothing (through July). (Btw, I'm seeing businesses with signs everywhere here in PA looking to hire.)

5) After you've wrecked many small businesses with #2 and #3, regulate them to death, adding costs they can't afford and inconveniences their customers don't want.

Meanwhile, those young people you just paid to sit at home idle are day trading with the free money. Time to get short.

~ Kevin Duffy, Facebook post, June 19, 2020