Posted on 01/14/2021 7:21:56 AM PST by Onthebrink
It adds about $6k to every person.
The issue is whether or not the money is getting into the system. Right now the banks slop it up, roll it into their Fed reserves and get a decent overnight return on it. There is absolutely no incentive for them to lend at any level of risk.
And companies are just using it to buy back their stocks. This will give them more “control” when the economy dumps and they have to do some nasty things to their employees.
You have already started to see inflation start to creep in food and fuel. The housing market pricing in our area is through the roof—that will be offset by commercial property taking a nose dive.
They (the democrats) will have to force a move soon, or they will not be able to blame it on “Trump’s failed economy.”
My guess is that we will see their huge COVID Bill followed by a huge Infrastructure Bill, and the forgiveness of billions in student debt. If that doesn’t start a “fire” nothing will.
How much of this money will go to help, and how will go to continue the bribes and blackmail to keep the Democrats in power? $800 billion in shovel ready BS like Jug Ears?
Put a fork in America.
It IS over.
The coming collapse of the dollar and resulting hyperinflation is going to make COVID and the current political mess look like the best of times in comparison. The dirty secret is the current national debt of $28 trillion (which is bad enough) doesn’t even take into account all the IOU’s for future Social Security and Medicare benefits, if that is included it’s more like $70 Trillion. If we keep spending at the rate we are (and it appears if anything spending will massively increase under Biden) Within a decade we will reach a point where tax revenue will barely cover the payments and interest on the outstanding debt leaving no way to fund anything else without more borrowing. This will of course result in an endless death spiral of debt. The effects of this will be massive inflation, massive cuts in federal benefit payments, and massive tax increases (because there will simply be no other choice). That, in turn will result in a tidal wave of defaults on mortgages, credit cards, auto loans and every other form of consumer credit resulting in a total collapse of the banking and financial system.
As I understand it, about half of the 2nd Covid relief bill was the unspent part of the first bill.
But, nooooooooooo, D’rats could NOT bump our citizens’ benefit from $600 to $2,000 with that carried-over money. Nope! THAT had to go to D’rat living lefty big businesses. Period.
Yup.😝
Buy wheelbarrow futures.
This.😒
Nothing there to loot.
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