The Checks Are in the Mail

Check out the accompanying pdf and chart collection. (1) The Economist’s rocketship dodges the front-cover curse. (2) Samuelson’s mistake. (3) From lots of liquidity to tons of it. (4) The Fed is pumping away. (5) CARES Acts I-III add up to $3.6 trillion in rocket fuel. (6) Biden’s Acts IV and V would add another $4 trillion, give or take. (7) First round of rescue checks fueled rocketship recovery from lockdown recession last year. (8) Latest round of checks is half as much, but GDP is almost back to pre-pandemic level. (9) It may be time to start worrying about inflation, or at least monitoring it more closely. (10) Movie review: “News of the World” (+).