Every other country did the same thing. Although I think governments, companies, and individuals are stumbling through the shock of such an unprecedented injection of supply… Ultimately IMO this is a global “hangover” from covid money printing.
This is why I’m hesitant to over-attribute current economic conditions to things like “approaching limits of growth”. To me, those are zebras. Unprecedented monetary supply manipulation are horses. When I hear hoofbeats, my first guess is the horses.