Saturday, March 28, 2020

If $6 Trillion is OK, Why Not $350 Trillion?

History has warned us what happens when governments print/create unlimited amounts of money...eventually it becomes worthless.
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However, Massie's final point that was the punchline:
If getting us into $6 trillion more debt doesn’t matter, then why are we not getting $350 trillion more in debt so that we can give a check of $1 million to every person in the country?
Here the Kentucky Representative hit the bullseye, as this is precisely the endgame. However, since one can't unleash the full $350 trillion overnight without classical economists admitting the truth about what the real nature of this bailout is, it will be done piecemeal with other crises, and other "unprecedented" emergencies emerging in the near future and unlocking the path to what is the real goal of this unprecedented reflationary bailout of the world's most indebted nation. It also indirectly addresses Massie's final point:
This stimulus should go straight to the people rather than being funneled through banks and corporations like this bill is doing.  2 trillion divided by 150 million workers is about $13,333.00 per person. That’s much more than the $1,200 per person check authorized by this bill.

https://www.zerohedge.com/economics/if-getting-us-6-trillion-more-debt-doesnt-matter-then-why-not-350-trillion

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