If this is anything like the past, we’ll soon add the Department of Pandemic Response.Quote:
Originally Posted by waggy
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If this is anything like the past, we’ll soon add the Department of Pandemic Response.Quote:
Originally Posted by waggy
I don’t think we are talking enough about the trillion dollar coins that are being minted. What do these things look like? Are they going to be the size of a regular coin or be a comically oversized coin? Who is going to get to handle it? Assuming sports return, could we use it for the coin toss at the Super Bowl next year?
This is an interesting one (for me). I think we absolutely have to help companies, small and large, right now. This is a set of circumstances that has literally never happened here. It's unreasonable to expect companies to hold the kind of capital reserves they would need to weather something like this.
Now, do I think that companies have spent too much money buying back stock instead of paying down debt and building cash reserves? Maybe/probably. Right now we just need to keep the economy afloat though. I'm actually more concerned that this won't do enough for the thousands of small businesses that will be significantly impacted. They obviously don't have the voice($) that large corporations have in Washington.
Is it silly to say that billionaires must be really bad with their money if they're always needing to be bailed out whenever their companies take a loss? I mean, lots of other people are losing money and no one is bailing them out. They're just expected to kind of make it work. I think that's true for most of us.
Fun new detail, the Fed is now allowed to meet without providing minutes. We will need to back into where our $500B went.
This Tara Reade story is going to heat up for Joe Biden.
https://newsone.com/3917043/tara-rea...reaks-silence/
This is where I’m at. I’ve never supported this type of spending or giving bailouts. However, when the government mandates closures to small businesses and take away their revenues, what’s the alternative.Quote:
Originally Posted by boozehound
The devil is certainly going to be in the details. As CAF accurately pointed out, it scares the hell out of me the government has the ability to choose the winners and losers. Moving forward there HAS to be a better way to handle a situation like this (take away the D and R’s behind the names please). Giving this type of control to the Federal government is flat out crazy considering how much they waste to begin with. Also concerning, no one has brought up how we’re going to pay for this monster debt.
Whatever the number is, it’s too many.Quote:
Originally Posted by waggy
Sent from my iPhone using Tapatalk
There is never a convenient time to break this trend. Our economic policy is now just like our Middle Eastern one. Past mistakes are used to justify new mistakes. It's a hard trigger to pull with impossible to wrap your head around ramifications, but the easiest way to prevent bailouts tomorrow is to not do bailouts today. The leverage will keep growing and the crashes will keep coming until there is a US sovereign debt crisis. I see no reason to think our leaders will not kick the can down the road until their is absolutely no other choice.Quote:
Originally Posted by noteggs
As for your last sentence, read up and get comfortable with how to live and invest under Modern Monetary Theory. It's here to stay.
Fair and good point. Forgot about the point of not learning from our past mistakes. I guess trying to us a somewhat pragmatic approach (admittedly emotional at this time) to replace lost revenues and compensation that were essentially confiscated by the government fails in those terms.Quote:
Originally Posted by Caf
And yes MMT scares the hell out of me as well. Until you reminded of this theory, I can definitely see the parallels to the stimulus. Hopefully you are wrong on your last sentence, but you could be right.
See, this thread can make us second guess our opinions.