You have to go back to Bush Jr for its start. 800 billion is what TARP cost at the beginning of 2008 and then Obama just added on to it, then Trump, now Biden in big form which is why we have been more or less in a bull market since 2009.
It does have consequences though. It really is to late to turn back the printing presses now. Hold on
As long as there is wage growth, capital investment (and not the hoarding done in the form of buybacks and labor shedding), and a solid debt-trade balance, sure.
Long term, the ‘growth’ model and all of its attendant assumptions, has got to go. It no longer accounts for the closed-system feedbacks of transnational economic exchange, or even worse, the off-book and socialized costs.
Tsk tsk I think the good people on the forum know what I am referring to. I am also willing to throw both parties under the bus for using it recklessly as can be seen by my above post.