There is literally NO public support for restarting the economy at the peak of the virus. None. You might get 5% to go along, if you were lucky. You do not govern against the overwhelming will of the people. Trump would simply be committing suicide for no gain when the cases of the virus, and the deaths, started going up again - and you’d have communism writ large after November.
We are the world’s reserve currency - and there is no threat to that whatsoever - this 6 trillion or the next 6 trillion isn’t going to make a damned bit difference because it is never going to be “paid off” by the taxpayer. The world has nowhere else to go for a market. You will probably - depending on the Democrats - get a massive tax cut when this is over, and if the Democrats get in the way, you’ll get it next January. There will be significant tariffs, and they will be gladly paid to get into this market.
The world has nowhere else to turn except here when this is done. Everyone in the world still wants U.S. dollars, so we will print as much as we want and the demand will still be strong. It’s a book entry in our financial system. It’s not a mortgage, it doesn’t ever have to be paid back...the biggest effect will be a little more inflation over time - a veritable cold in the face of metastatic cancer.
Excellent post! No other country can compete with us.
So you are saying you believe in MMT garbage then? You can’t print wealth or jobs.
But the interest does have to be paid.