Generations of Keynesian Policies Have Made Us Extremely Vulnerable to the COVID-19 Economic Crisis

The world entered this coronavirus shut-down with virtually no savings buffer, with firms and employees living paycheck-to-paycheck in a mountain of debt.

Such an economy has no resilience to any shock. Broke companies cannot make payroll, so broke tenants cannot pay the rent, and then broke landlords cannot make repayments, meaning broke banks cannot remain solvent, except for government bailouts-but what if governments are also broke?

This is the world that Keynes wanted, and his central planning proti(C)gi(C)s have delivered it in spades. Well played, Mr. Keynes.