Wednesday, March 25, 2020 | 2 a.m.
We have heard over and over again that the stock market hates uncertainty. Humans likewise hate uncertainty. However, today, both our lives and our economy are more uncertain than ever.
If this is “war,” then let’s spend as if it were. This is no time for nickel-and-diming or pennywise-and-pound-foolish thinking. We’re $22 trillion in debt, with nothing to show for it and. So, now, in a literally life-and-death struggle, we must spend $10 trillion to $20 trillion. We must act decisively and spend wherever it’s needed over 3-6 months, or we’ll die a death of a thousand cuts and descend into a 5-10 year depression.
The markets are reaching new lows every week. There are no safe havens like gold, bonds, treasuries or money markets that we used to rely on. The supply chain and the demand side are broken. Our health care system is in turmoil. The death toll is rising daily. Millions are out of work — overnight. Remember, when millions were out of work due to the great recession, it took 9-10 years for all of them to eventually return. Now, not tomorrow, is the time to act big and be bold.