This underscores the desperate maneuvers the Fed is undertaking to avoid the inevitable. They've killed the free market to save zombies like Uber, which are unprofitable.
I don't think it's impossible to do financial engineering and hacking to the point where we can ignore an occasional fundamental collapse. Like if I owe money to a mobster, but I somehow kill his entire mob and burn all of his notes, so no one has memory of my obligation. It's just throwing my debt into a black hole and I'm not going to pay a dead guy.
Time to bring back the Jubilee?
The only question is if we have to print more than other countries.
*am not a biblical scholar, feel free to correct
> The Fed said Thursday it will invest up to $2.3 trillion in loans to aid small and mid-sized businesses and state and local governments as well as fund the purchases of some types of high-yield bonds, collateralized loan obligations and commercial mortgage-backed securities.
The qualifier is the fallen angels clause which I mentioned. The way this works is that the Fed buys investment-grade ETFs. The underlying indices for those funds still have companies which have been downgraded to junk, which are the falled angels. The Fed isn't going out and purchasing bonds directly in the bond market, they're using existing infrastructure to perform market operations.