[bko]

Didn't we have an experiment with ubi during COVID. Everyone basically got a big check. You can see the huge impact it has on savings. You can draw whatever conclusions you want from that but what I noticed it coincided with is a huge run up in asset prices (especially speculative things like crypto), and to eventually led to broad consumer inflation.

Of course a lot of other money was spent (1 trillion in direct payments and income support respectively out of roughly 13 trillion in total new COVID spending). But I think giving out free money distorts markets in unpredictable ways.

https://fred.stlouisfed.org/series/PSAVERT

https://www.covidmoneytracker.org/