One thing America knows how to do best is throw money at will. On every conceivable project that anybody can have a brainwave about.
But money is not a panacea. Money only helps when it is used wisely.
Right now, the panic in the market is not going to be calmed by pumping money into the economy, whether it is the proposed $3 trillion dollars or an additional $10 trillion dollars. What will give any reason for the market to turn around will be when the market sees any real sign of leadership.
The market will respond positively when the market is convinced that resources are directed at slowing and stopping the virus; on finding a vaccine and a cure for the virus; for providing a superabundance of all needed testing and protective equipment; and on making available sufficient number of hospital beds for all potential surges in the infection.
What will also give confidence to the market is if the political leaders, journalists and others will try hard and rise above their petty and petulant selves and find ways to work together as a nation and as a community of human brotherhood and sisterhood.
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