If the US cannot open schools this year, or has to do it with masks, then the shutdowns, accelerated vaccine development, mask mandates, quarantines, travel restrictions, all of it, really…didn’t work. A complete failure of government.
Let’s say you bought a two-year US Treasury note in June 2020 at a yield of 0.15%. So far, you have lost 5.25% of your purchasing power. CPI up 5.4% minus a 0.15% interest rate. No way to recover at this point.