good timing on this article!
Charlie, you correctly observe that QE looks like it's here forever, whereas governments want to wind down Jobkeeper / Jobseeker seemingly as fast as possible. An admittedly simplistic take on this is that it's okay to keep asset prices high but less important to keep people in a job. Would you care to give reasons for this? Or is it what we should always expect with conservative governments and central banks in a capitalist economy?
Keeping asset prices high through liquidity is a ''Quantity of Life" issue. Keeping people in employment is also a ''Quantity of Life'' issue - subject to the proviso that the additional unemployment negatively impacts GDP. If the unemployment does not impact GDP, it becomes instead a "Quality of Life" issue. Our economic systems attach little weight to Quality of Life. This needs to change, and maybe one positive impact of Covid will be to cast a spotlight on it,