Posted on 06/09/2022 6:31:28 AM PDT by Browns Ultra Fan
Pennies from Heaven. That is what the bottom 50% received from The Federal Reserve’s massive doses of monetary stimulus (or stimulypto).
There was one big dose of monetary stimulus in late 2008 surrounding the financial crisis and housing bubble burst, another doses (aka, QE 2 and QE3) then the biggest dose of all with the outbreak of Covid in early 2020.
President Biden should have mentioned on Jimmy Dimmel last night that The Federal Reserve has helped the bottom 50% with its endless monetary stimulus.
But if you were fortunate enough to own a home (the top 1% are likely homeowners), then you benefited from The Fed’s monetary stimulypto.
And I noticed that Biden didn’t mention plunging REAL average weekly earnings YoY.
The Federal Reserve’s monetary “policies” have benefited the top 1% and homeowners relative to the bottom 50% (who often rent and got clobbered with 20% growth in rents).
Great job, Fed! Making housing more unaffordable for rents (combine rising rents and declining REAL wages and we have a real affordability problem).
And what is with Biden’s ear lobes? As inflation is rising, his ear lobes are shrinking.
Weird, wacky stuff.
The inflation numbers are out tomorrow. I noticed that Biden and Jimmy Dimmel only discussed gun control, not the sad state of the economy under Biden.
(Excerpt) Read more at confoundedinterest.net ...
Ahh...A new Killer Joe.
Richard Cantillon described this in the 17th century - printed, centrally-controlled money ALWAYS benefits those who receive it first (government, large banks, cronies, etc...)
Those who are hurt by the subsequent inflation are the “late handlers” of it, as it has moved through the system and prices have already adjusted upwards - average workers, the poor, etc...
Its why throughout history, regimes/empires that engage in devaluation of the currency always end in a kind of extreme and divided political system with some variation of feudalism.
I never got any money....But I did get a higher tax bill in my area then I was deemed a “white supremacist” for complaining about taxes and freedom.
There would be a better net gain if you simply picked up coins and blowing dollar bills on the street.
Of course somebody had to lose them in the first place.
Wait until the bills come to pay for all the illegals.
I really hope that Abbott and Texas go through with the lawsuit concerning forced schooling. If other RED States jumped on board with that things would be great.
Although I won’t hold my breath for Kemp and Georgia.
What a lot of B.S.
Obama’s phony fed “stimulus” doesn’t help ANYBODY!!!
Econ 102:
It’s a British Keynesian Socialist ploy, long-since proven wrong as rain, that only causes inflation whereby EVERYONE LOSES.
The immediate flush of “free” cash is over time replaced by higher prices - a net LOSS for EVERYONE.
And OBTW, inflation is too many dollars in circulation causing each dollar to have less value. Inflation caused by government printing more money than the gross domestic product (GDP). “Stimulus” as most government spending, has nothing to do with domestic output, so “stimulus” as most government spending which BTW is almost all unconstitutional, causes inflation.
We got our tax assessment a couple days ago. It is up 50% from a year ago. Retirees are scared to death. Forty years of financial planning, scrimping and saving all gone — POOF!
it wasn't intended to [by Them]. The purpose of it was to keep the sheep calm, sedated, contented, and happy. It served its purpose. It worked. The sheep were elated that Lying Joe Biden was their master. They are overjoyed that he is occupying the White House. They had gotten rid of President Trump and his mean tweets. They got free money. They were in Hog Heaven. Now they are crying and bitching. What for? They got everything they prayed for. And the best is yet to come. Before long, one will have to get a co-signer to pay for groceries. Gas o line will be fifteen dollars a gallon. The shy is the limit for those evil people that the voters, in their infinite wisdom put in Power in the 2020 Coup. Not one competent individual was put in power by them.
Your home page shows you live in California. If that’s true how could your property tax possibly go up fifty percent on the same parcel? Prop 13 prohibits such an increase.
We split time between a place in Idaho and our original place in CA. CA is protected from these awful hikes. Prop 13 is one of the few sensible things that California has done in the past 50 years. Idaho doesn’t have a Prop 13 and uses the traditional assessed valuation method.
My wife is after me to sell the California property, but, as bad as the Bay Area is in so many ways, I still enjoy it there.
Well, I don’t agree on gun control, so I guess my response would be: “BRING IT DIAPER BRAIN”
“printed, centrally-controlled money ALWAYS benefits those who receive it first (government, large banks, cronies, etc...)“. Actual Trickle Down Economics.
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