Central bank money printing is morally bad given it's largely used to bail out either irresponsible government spending, or irresponsible private sector actors.

Central banks could reduce their balance sheets significantly more (and until recently the pace was pretty quick), but given where things are today it will undoubtedly be pretty politically unpalatable to do so (bond markets puking, making deficits even worse in the face of an inability to cut spending).

“We’re going to increase taxes!” “To spend on better public services?” “Nah, we’re just gonna burn it”

Easier said than done, I think.

Smartest thing to do but politically radioactive...