Sorry to say, Umair … you are likely correct.

I think the economic damage will be pretty severe. The rich will hang on a while longer than the general population. By many estimates most families cannot raise $400 for an emergency and they will crash and burn in a few months. Then these families will end up in poverty and stop buying from Amazon, et. el. Then the wealth of the bottom tier of the rich will start to erode.

I think you are also correct that the Feds could just keep printing money and over the period of the next 6 months make a positive impact on saving the economy. And yes, in the end there would not be any debt for the Feds to repay.

We will see how some of the European countries that embrace universal income turn out. But sadly in this interconnected world they will also be impacted.

I’ll see you in the bread line … if any part of the government decides they should have one.