Thank you for such a thoroughgoing analysis. Ultimately, this crisis is an income-based crisis. From the central bank perspective, attempts at reinforcing credit, for producers or consumers, in the face of such a crisis is unlikely to have much of an impact. Direct support for individuals to continue to pay rent/mortgages and service their debts is what is needed — a QE of a kind for people that will not increase public debt by yet further factors. (Personal resources and public/private assistance are available for food and utilities.)

For a permanent, systemic solution: “For Crying Out Loud, ACCEPT That A SOLUTION Actually EXISTS” (a “2 min read” — including options for further reading — here in Medium.” Yes, I (to be clear, its author) am a bit frustrated.