You're 100% correct here but allow me to explain how it's all 100× worse than you originally thought. Almost none of that money was used to actually expand the economy, the banks have been pouring it straight into jacking up property values and stock prices. It's so bad that some estimates put the amount of "money" in the worlds stock markets at several quadrillion dollars or a couple hundred times more than the entire worlds GDP. Now to the inflation, it hasn't gotten apocalyptic for a reason, velocity of money, or how quickly money is entering the broader economy. Like I said earlier, most of the money that the world governments created is locked up in investments, meaning it hasn't entered the general economy yet. That will all change once the rich and powerful decide to cash their chips out in order to buy real, hard, recession proof assets. Us peasants won't be warned when it happens, one day the whole thing will just collapse in on itself and they'll have scumfuck reporters on TV telling you that nobody in the world could have ever predicted such an outcome. The path we've been set on since 2008 has always been doomed, the pandemic has just accelerated the timeline.
Isn't that what happened with the big recession that led to the great depression? The rich inflated the prices of the stocks, then all pulled out at the same time to make maximum profits, then the whole thing imploded, only for them to do the same thing a second time (inflate stock prices, withdraw everything at the peak) which led to the great depression?
As for the commie discussion, i say communist because it's the easiest way to describe the dictatorships that ran communist regimes. I know communism is a financial thing, but how they collectivised and demonised society is a lot like what we're seeing today. Some are saying fuedal, but from what little i know, the fuedal era was pretty good for peasants as they could pick and choose which kingdom to live in, based on what the kings offered the peasants.
Remember that China and Russia both had enough food to feed its people, it just didn't. China and Russia used the media propaganda arm to tell the citizens everything was OK, not to panic and only the bad, icky, nasty people were going to be punished.
Stalin with his gulags - 20 million dead
Mao with his great (reset) leap forward - 35 million dead
Hitler with his undesirables (deplorables) - 11 million dead.
in 1930 there were 2 billion people. In 1950, despite the wars and hundreds of millions killed, there were 2.5 billion people. Today, we are nudging 8 billion people. Would a western country get to the levels of starvation or famine that China or Russia got to, before shit hit the fan? Taking in to consideration we have the internet?
Take for example, california. If no food could get to that city for 7 days, how long would it be before it turned in to South Africa?