In today's episode I cover John Locke's thoughts on political control, the latest round of lockdowns and why The Fed seems to have ignored everything Japan learned about monetarism in 2002. At what point does it simply no loner work to keep printing money? What happens when unemployment rises at the same time as incomes are skyrocketing? What strange times we inhabit! In this episode we also explore some interesting stats from Wolf Richter on what we can expect in the post-covid 'New Normal.'