Covid
↓
Panic
↓
Stay-at-home orders
↓
Unemployment
↓
Govt loans
↓
Print money
↓
Good times!
↓
$ Devaluation
↓
Tight budgets
↓
Free money dries up
↓
Confusion <- u r here
↓
Banks crash
↓
Commercial real-estate crash
↓
Defaults
↓
Stocks crash
↓
Depression
↓
Panic
↓
New crisis
↓
Repeat