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 it’s not the biggest. I know what you’re thinking… “How can you say it’s not the biggest?!?!?!” Don’t get me wrong. It’s definitely huge. But it’s 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 it’s a starting point, that there will be negotiations with Senate Majority Leader Mitch McConnell and the White House, but at this point it doesn’t matter where it lands. We’re 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 Pelosi’s $3 trillion proposal because IT ISN’T BIG ENOUGH. Seriously. They’re saying rent and mortgages should be paid by government for months, even years. They’re saying the government offering to pay student debt up to $10,000 through September, 2021, is too limited in both term and scale. They’re saying there’s 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 ...
You’re probably right .....
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.
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... one more time.
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... that better never happen. Let them live by the malfeasance of their government.
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Nope
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People are lethargic and self centered now. Something has happened to the character of Americans, and it happened very quickly.
Too much self-absorbed behavior centered around social media, people constantly taking pictures of themselves. It's sick.
Constant makeup and personal appearance, workout ads on tv ...... people only seem to care about meaningless surface appearances.
American character is not what it was 70 years ago.
There will be no meaningful protests!
It is immoral
Proverbs 13:22: A good man leaves an inheritance to his children’s children, but the wealth of the sinner is stored up for the righteous. In God’s book, a good man thinks generationally. He does not just prepare for his children’s future, but for his grandchildren’s
Saying it cut the value of our savings??? Right now withdrawing your savings & stuffing it in your mattress will do about as well. I had a savings account for years & then had to basically eliminate it so as to write checks with it. It didn’t make a lot of difference, tho, as the interest it paid was practically nothing. A small savings account(such as mine was) is basically worth only face value.
If we extend this logic about modern monetary theory, why even pay and collect taxes anymore? Can’t the government just print more money as “revenue?”
“I’m certain that this will end with all 401K accounts being seized by the Federal government.”
The D’rats have been drooling about squeezing our fat, juicy peach for a long time. This crisis provides cover. Here’s from 2008:
https://www.carolinajournal.com/news-article/dems-target-private-retirement-accounts/
good read.
thanx
You have it, exactly.
“The fools...the mad fools...The Doomsday Machine...A device which will destroy all human and animal life on earth.”
Said the Russian Ambassador.
Huh? Deflation occurs when prices go down. Each dollar can buy more stuff, because people like keeping those dollars more than the stuff it can buy. The government isn't propping that dollar value up. They are trying to knock it down. If they get very, very lucky they can return to a 0-2% inflation rate again like before the pandemic.
This example is more likely from rebalancing of supply and demand rather than monetary policy, but gasoline prices have gone from typically $1.20 to $1.90 in about three weeks. I loved taking my $1/gallon Kroger discount and getting 35 gallons for about $7. But I knew that wasn't a healthy price long term.
If we offset the $2.2 trillion CARES Act by eliminating all foreign aid, we would end up with a $2.14 trillion bill. If we then offset it further by cutting all other “discretionary” spending, including defense, in half, we would still end up with a $1.5 trillion bill.
Unless the “other garbage” being pulled back is Medicare and Medicaid, we aren’t going to get there.
“The biggest threat to our nation is if government grows accustomed to throwing trillions of dollars at our problems and Americans remain too complacent to stop it.”
Yep. The “moral hazards” (rewarding and encouraging irresponsible behavior) inherent in these bills are huge. Unfortunately Trump is not what one would call a fiscal conservative. I hope it doesn’t make it through the senate and if it does I hope he vetoes this latest porkulous.
Yes and a good deal of this stimulus money is not being collateralized by Treasury bonds but rather congressional promises which is the equivalent of an unsecured loan. Trump is bankrupting the Fed.
The country runs on debt. Debt growth that outpaces value creation is not a good situation. Perhaps I am spitting into a hurricane. In our (sort of capitalist with excessive regulations) economy, sometimes a market recession is necessary to correct excesses and poor decisions of the “investors”. It should have been allowed to happen in 2001, in 2008, and if the government wants to shut down the economy, then let it happen now because they would all get voted out. But consider ....
The excesses in helicopter money starting in 2008 was for two purposes - (1) to save the big money players (average person did not benefit); and (2) to make sure that obozo did not fail as the 1st black POTUS and do something a community organizer would do if faced with a choice of letting the system correct itself. No modern day POTUS will tolerate a recession. HW had (a weak) one timed for the end of his term that helped Mr BJ. After 911, W didn’t want to argue with demonkraps on fiscal control, which blunted the opposition’s criticism and helped his re-election. But W was forced to have a recession at the end of his term by the demonkraps in the House in order to get the empty suited, teleprompter elected. Obozo effectively put in place what W was trying to get passed in 2008. The money-obsessed part-of-the-rich demonkraps would not support it til their bozo got in there to take all the credit.
“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”.”
Just like your social security account.
But what I think is going to happen is the Fed will be very accommodating with the printing press. You probably won’t want your nest egg in cash over the near future.
..... agreed.
They're sitting back grooving on the deficit fueled tax cuts.
But don't worry, when the other party gets back in power they'll wake up and decide that debt is bad again.
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