Somebody else made this observation, so I can't take the credit. This was found by myself in comments made to an article about USA treasury sales
Think about this for a minute:
A 27 trillion deficit, all time high stk market and an economy almost shut down. If Bidden wins even more shut downs dialed in
If the vaccine [s] work and the economy is allowed to fire on all 8 cylinders, what would the unemployment numbers be and other good things that can only prove the strength of the USA economy. There will be some adjustments post virus but the economy can weather this as all economies adjust from time to time
the brits had a massively high debt level in the early 1800's. (after the u.s. revolution, war against france, and war of 1812, etc). but yes they eventually paid down debt, without printing money to do it. and they still had a world class economy.
that will NOT happen for us or europe this time around.
central banks will print like mad to pay debts, and prevent a depression style collapse. this is why by 2070, western economies will all look like argentina. 30% inflation and 30% unemployment. it may happen sooner.
and an economy almost shut down
The economy certainly took a massive hit in the spring, and it may well again, though I suspect the vast majority will not cloister themselves as before.
That being said, I have a hard time viewing an economy with a 33+% GDP creating several 100 thousand jobs per month (nearly a million private sector jobs last month) as almost shut down.