Something we saw in 2008-2009 and now again this year. When congress doesn’t deliver enough help, people end up getting mad about the help that was delivered (to banks then, to Ruth’s Chris now) and your get into a very unproductive dynamic.

The US government is not currently facing any objective constraint on its ability to spend.

Money for Harvard or some chain you don’t like is not the reason there’s no second round of checks or a loan for Ben’s Chili Bowl. It’s just not enough.

Congress & the Fed feel they’ve taken unprecedented action and it’s crazy for me to complain.

But look at indicators: Nominal rates are so low that even with fallen inflation expectations real yields are negative.

If the car’s skidding off the road you’re not steering right.