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Oculus Spirit [97877]
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I'm on board with this bigly.
Mar 17, 2020, 11:31 AM
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https://www.wsj.com/articles/giving-americans-money-to-offset-coronavirus-impact-gains-bipartisan-support-in-congress-11584446801
Normally I would never support something like this, because it would cause inflation. But assuming people are not working, and have no income, it will not create inflation. We've been giving free #### to the poor for a long time now, and as long as they're truly not working, it has no inflationary pressure that will impact the overall labor to wage rate.
But all the interest rate drops, all the QE for companies to stay solvent, all of that is pointless if PEOPLE ARE NOT WORKING. This isn't about the market, or a recession, or a depression, or anything like that. This is about labor disappearing for an extended period of time. You can give QE to a company financing a restaurant, or low interest rates for them to take out a loan to keep paying their employees to not work, but who's going to give them a loan if they are closed? No paying customers, no employees to pay. A business can survive closed down easier than a hourly worker. Best solution would to be to freeze debt payments for companies, then pay the individuals not working an amount necessary to purchase essentials. That allows food, medicine, essentials to be purchased, their rent to be paid, and allows for the pause to be subsidized with "free" money that will not cause inflation because it will not be exchanged for labor at a rate unlike what existed previously. Inflation and money value is directly tied to labor. No labor, no inflation with "free" money.
As it stands, we stand to see massive DEFLATION with the injection of QE and lower interest rates, without a labor market to add value to that money.
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Oculus Spirit [94260]
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C&P so we poor folks can know how much we're missing?***
Mar 17, 2020, 11:33 AM
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Recruit [92]
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Re: C&P so we poor folks can know how much we're missing?***
Mar 17, 2020, 11:40 AM
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$1000/month
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CU Medallion [55851]
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Oculus Spirit [97877]
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No, we need it so people don't starve to death or become
Mar 17, 2020, 12:24 PM
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homeless until they can work again.
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CU Medallion [55851]
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Wha? Just sayin' my dawg Yang done been up in dis.***
Mar 17, 2020, 12:30 PM
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Oculus Spirit [97877]
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Have you ever wondered how we always spend money to
Mar 17, 2020, 12:40 PM
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help the economy, like TARP. What nearly a trillion dollars, and it was paid to NO ONE. I mean every american household could have received a check for $8,000. But nope. It was trickled down. Shuffled around at the top, and never made it to the people. And there's a very good reason for that. You don't want to cause inflation. But this is a different monster. People who can otherwise work, will be prevented from working. Prosperous companies, doing well, will go bankrupt and have to close despite all economic indicators saying invest in it. It's not like a recession where everyone is wanting a job and companies are not hiring. This is actually people not working. Can't work. As such I don't think it will cause inflation. In fact, I think what the fed has done to date is not only irresponsible and practically useless, but it can create a massive deflationary pressure. Nope, free money balances this out and will not have a negative impact if we shut nearly everyone down.
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All-In [46887]
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You two are saying the same thing***
Mar 17, 2020, 12:42 PM
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Legend [15492]
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Scout Team [170]
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That's SOCIALISM!!!***
Mar 17, 2020, 12:42 PM
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All-In [46887]
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Are they going to direct deposit it in our accounts
Mar 17, 2020, 12:42 PM
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or will we have to congregate at the bank to put it in?
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CU Medallion [50635]
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you have a bank account***
Mar 17, 2020, 1:04 PM
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All-In [46887]
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That's what I labeled the mason jar under the tree
Mar 17, 2020, 1:09 PM
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in the back yard
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All-TigerNet [12851]
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is this an advance on future tax refund?
Mar 17, 2020, 1:39 PM
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or are we gonna just print $1000 bills for the occasion?
IM not in favor.
Sorry
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Oculus Spirit [81315]
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tax refunds..lulz...as if***
Mar 17, 2020, 1:50 PM
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Legend [15492]
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Replies: 15
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