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TheOldBarn

Are You worried about the Economic Stim?

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I am. I'm worried that the trillions required to be spent by the US government once again will go to all the wrong places.

Not everyone requires a check in the mail. And the ones that do get a check should get the biggest check.

Please do not bail out the Cruise Ship Corporations, and when you think of bailing out the Air Travel Industry, consider taking it over and Nationalizing it. 

Some say it is possible for Oil to go as low as $10 a barrel requiring huge government bailouts for all the frackers - don't do it / use the money to turn the corner on green energies with a new energy grid to boot. 

Friend of mine suggested instead of giving no interest loans to small business, just take care of their required debt payments instead - that way they don't have to worry about paying back a loan.

Trump today said he doesn't like stock buybacks - that wasn't supposed to be part of his trillion plus tax cut for Corps and mostly rich folks. Stuff just happens I suppose.

And oh yeah, we got a health care crises in this Country, and in the world over currently - we need to spend big time for that.

https://www.cepr.net/the-no-one-in-the-gop-cares-act-bails-out-airlines-does-little-for-public-health-or-workers-jobs/

 

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I am.

 

Eventually printing money like this has to show up on the streets.  

 

Bothers me that when we have crises that impact millions of people and big action is needed, "Where are we supposed to get the money, libretard!  Ha!  I told you!!" is the response.

 

But when the freaking bankers need us to bail them out, when the drug companies need us to extend their monopolies, when insurance companies need to keep their anti-trust exemption, oh, we'll find the money...or we'll print it if we have to.

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It's welfare state politics, buying votes.

 

I live in a "Third World" country.  By my estimation president Duterte is doing a way better job than Trump is dealing with this Cornavirus crisis.

 

LOCKDOWN.   The PNP doesn't fu-k around.

 

I have my military retirement and VA disability checks.  When things are totalled up,  I paid 1$ in income taxes for the 2019 tax year. 

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I'm worried as well.

 

I'm concerned that this stimulus is going to become another cronyfest, used to hand corporations big gobs of money with limited oversight so the companies end up buying back their stocks, purchasing a new Bentley for the CEO, or some other asinine move that does nothing to help the corporation (and it's workers) weather this pandemic.  

 

I tend to believe the majority of the money needs to go to American workers, to small businesses, and especially to hospital/healthcare workers who are literally on the front lines putting their health and lives on the line.  Hospitals need supplies, ventilators, and healthy workers.  Mortgages, loan payments, and credit card payments (and any subsequent late fees) should be waived for all Americans.    

 

And I must say that Trump's aspirations to have "full churches on Easter" is totally absurd.  Fourth of July is probably a more sensible goal.  Once we flatten the curve, we should continue to shelter in place for at least another 15 days (preferably 30).  This virus is dangerous - we need to wait until the spread of the virus slows down.  To date, it's still accelerating.    

 

 

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I wouldn't call it stimulus. It's a life jacket. It will take more then this to get people and businesses back to any kind of normality. Democrats did an excellent job to make sure the people are taken care of, and not just big corps. 

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31 minutes ago, JeanMoulin said:

I wouldn't call it stimulus. It's a life jacket. It will take more then this to get people and businesses back to any kind of normality. Democrats did an excellent job to make sure the people are taken care of, and not just big corps. 

 

Yes they finally showed they have a Backbone!

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We'll have to see whether the bankers and Wall Street use these funds, or whether they just strong-arm the Fed into funneling even bigger piles of cash through the repo market into the system, where, for SOME REASON, nobody is asking where the money is going or what it's for.  There were some bailout dollars in 2009 that the banks were forced to take to try to wash out the stigma associated with taking those particular funds.  

 

These people are very, very shady and extremely tricky.  We still don't even know everything that went on in 2009, so I doubt we'll really see the full impacts of this latest collapse and bailouts for decades.  

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The government will hand out $2 trillion that it doesn’t have. Most of the money will not be accounted for.  What could possibly go wrong? 

  • Funding for medical staff and research are a no brainer. It will save lives. 
  • Checks to individuals who cannot work due to shelter in place orders are reasonably urgent. There will be abuse but that is largely unavoidable. 
  • Main Street needs help but I hope there are strings. 
  • Wall Street bankers deserve nothing at this time. It may be that bailouts are necessary in the future but I am not convinced that it is urgent. It could have waited. 

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4 hours ago, Olivaw said:

The government will hand out $2 trillion that it doesn’t have. Most of the money will not be accounted for.  What could possibly go wrong? 

  • Funding for medical staff and research are a no brainer. It will save lives. 
  • Checks to individuals who cannot work due to shelter in place orders are reasonably urgent. There will be abuse but that is largely unavoidable. 
  • Main Street needs help but I hope there are strings. 
  • Wall Street bankers deserve nothing at this time. It may be that bailouts are necessary in the future but I am not convinced that it is urgent. It could have waited. 

I'm convinced that the bailouts for the banks would be happening right about now with or without a corona virus.  Our markets have been a parody of themselves since the 1980's, and the banks are at the heart of the whole thing.

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