The Triple Whammy Doom Loop, Part 2

There is really no more financially explosive combination than what’s embedded in the Triple Whammy.

That is, the implicit public health standard is zero tolerance for risk of serious illness or death; the operative fiscal principle amounts to a “not-our-fault” entitlement to society-wide make-wholes of lock-down losses; and the central banking correlate is to protect $81 trillion of public and private debt from the resulting yield shocks and drastic losses by virtually monetizing 100% of the bonds issued to fund the Everything Bailouts.

These principles are, well, stupid and destructive.