Skip to comments.Modern Monetary Theory: The little-known consequence of the massive coronavirus bills
Posted on 05/16/2020 2:41:10 AM PDT by a little elbow grease
The worst part about spending $6 trillion or more on coronavirus recovery isn't what's in it. The worst part is what happens if it doesn't destroy us.
(snip) --- The issue of our constitutional rights being suppressed is a huge one, but its not the biggest. I know what youre thinking How can you say its not the biggest?!?!?! Dont get me wrong. Its definitely huge. But its not nearly as destructive to the United States of America as the little-known consequence of all of these bailout bills, including the proposed $3 trillion bill Speaker of the House Nancy Pelosi is pushing forth now. She admits that its a starting point, that there will be negotiations with Senate Majority Leader Mitch McConnell and the White House, but at this point it doesnt matter where it lands. Were still talking about TRILLIONS of dollars, and therein lies the real risk for America that few seem to truly comprehend.
(snip) --- Many on the far-left are balking at Pelosis $3 trillion proposal because IT ISNT BIG ENOUGH. Seriously. Theyre saying rent and mortgages should be paid by government for months, even years. Theyre saying the government offering to pay student debt up to $10,000 through September, 2021, is too limited in both term and scale. Theyre saying theres not enough in there for climate change even though, oddly, there actually is some climate change language in there.
The real threat arises if we DO NOT crumble as a result. If the American spirit, our drive to recover, and the Grace of God allows us to make it through all of these bailouts without tangible repercussions, then Modern Monetary Theory will have been falsely proven to be effective. At that point, the end of America will begin.
(Excerpt) Read more at noqreport.com ...
Let’s just pass a bill with a quadrillion dollar stimulus and go for broke.
Like, what are we waiting for?".
The method and speed at which Congress is just pushing out 1/2 trillion and multi-trillion dollar spending bills at nearly the flip of a switch is not only irresponsible, it is insanity.
These people have devalued not only our currency, they have devalued our great institutions that were set up to secure our freedoms and liberty. Pray for our country.
And our children’s children’s children’s.........
Our country has been paying for it since 1913. The descent has ramped up in the last 20 years.
We are all Zimbabwe now.
The idea is to destroy the free enterprise system of business, than the green new deal can replace it.
It sounds counter-intuitive, but these massive stimulus bills are aimed mainly at staving off DEFLATION in our economy. Theyre basically propping up the value of the U.S. dollar, not devaluing it.
The real solution to this self inflicted problem is to completely open things back up. Come what may. But noooooo.
That may be the short term impact. I am unconvinced that it has long term benefits. Look at the value of the dollar since 1913; this won’t reverse that trend, only accelerate it.
These money creation actions are being taken only because the government has shut down the greater economy. There should be a parallel contraction in government spending at all levels since the government is shut down too. Not reading to much about that except some states want a federal bail-out - which is what is supposed to be included in Pelosi’s bill.
The billions upon billions we waste, given away to foreign aid and other garbage that does not benefit the American people is staggering. Pull that money back and use it to lower the bills passed.
There’s one word that comes to mind - INFLATION!
“Who will pay for it? Us. Every one of us.”
No, every one of us who worked hard and lived beneath our means to save money will pay for it.
I’m certain that this will end with all 401K accounts being seized by the Federal government. That’s the only available pool of capital that could come close to paying back the absurd loans we are making to ourselves.
It won’t be called a seizure, we will all get some form of government I.O.U. and we will be assured that our investments are actually being “protected”. Anyone who objects wants to kill grandma of course.
So where is Tea Party 2.0. It only took $800 billion to bring them out last time. It sems like $6 trillion would stir them a little.
It’s a big farce. The government does not have the money. It issues money based on nothing, thus diluting the value of each and every dollar bill in circulation.
It just cut the value of your savings, retirement funds, and investments.
Plus, who do you think is going to buy the government obligations? Probably the very same country that gave us CV19.
The irony of all this is that is has effectively turned a mortgage into a debt thats as safe as a government bond.
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