The American people were first introduced to the Treasury helicopter in 2008, not 2021. The Bush Administrations “radical” approach to keeping the Great “Recession” from becoming a contraction, obviously, failed spectacularly even though the initial returns had been positive – literally positive in how Q2 ’08 GDP suddenly turned higher as if this was by skilled design. Economists, including those at the Fed (meaning everyone at the Fed), practically called it a day thereafter. By mid-2008, they weren’t yet popping champagne corks but the bubbly had already been put on ice. What a gigantic mistake; fooled by the ... (full story)