A Billion Here, A Trillion There

(1) A global meltup. (2) Billions of dollars being spent on developing a vaccine at warp speed. (3) Trillions of dollars being spent and printed with abandon by fiscal and monetary policymakers. (4) EU agrees to issue “corona bonds.” (5) Japanese government writing a blank check for dealing with virus. (6) ECB, BOJ, and the Fed continue to pump massive amounts of liquidity to drown the impact of the virus. (7) Another CARES package on the way this week? (8) We are all MMTers now, including Bernanke, Yellen, and Powell. (9) MMT free-for-all: Why can’t we all stop paying taxes? (10) A trillion here, a trillion there add up to meltups in stocks, bonds, gold, commodities, and foreign currencies.