I am not an economist but I have been reading a lot about it recently.

There is a Youtuber called Alessio Rastani that goes more in depth about this subject.

In short the theory he believes, and I do too, is that it does not matter how much money the government prints or spends, it is where and how.

Governments have been investing heavily in welfare (such as checks for people in need) and that might just be what prevents our economy from collapsing.

Right after World War 2 the UK had a debt of over 200% of their GDP, but it did not destroy their country, did it? I worked out because most of it was spent on welfare and infrastructure.

If the money being printed is invested it is a good thing, investments with a goal to generate return. If it is wasted, like when wasted it in 2008 bailing out unhealthy banks, then yes, that would be bad. For now we are not seeing large scale bailouts like in 2008, but rather direct investments in the economy so it looks like it won’t be as bad as 2008.

Again, I reserve the right to be wrong as I am not an economist, I just believe this theory to make sense, and it matched the marshall plan and all of that welfare stuff after WW2, which led into great economic growth despite rampant spending and printing and debt because it was being invested, not wasted. It all depends on where the money goes.