The ongoing economic collapse isn’t due to a lack of money, but rather a lack of goods and services being produced due to coronavirus lockdowns across the US.

Thus it shouldn’t be expected that Congress and the Federal Reserve can stop a recession by simply printing and distributing money to Americans.

“Contrary to the actions taken and the assurances made by these authorities, the economic fallout from COVID-19 is not due to a scarcity of money, but a scarcity of goods and services,” wrote James Talocka for the Mises Institute. “…It is production alone that brings about the means for consumption. [French classic economist] J.B. Say reminds us that there is no need to worry about a lack of consumption, because production always falls short of man’s wants.”

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