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9 Comments

  2. JWR,
    In the spirit of avoiding groupthink, I offer a dissenting view of our economic future.

    After staking the legacy of his presidency on markets that he once called “fake”, “rigged” and “a big, fat, ugly bubble”, heading into the election, I see nothing but an explosive upward movement in the markets for Trump. Assuming the same peak and downward trend of the virus that other countries are experiencing now, the optics would be an absolute masterstroke. Imagine being the politician that saw the country through a pandemic AND the biggest economic disaster since the Great Depression, only to turn it around with the greatest recovery in the history of humanity, just in time for the election. Priceless…(sort of).

    With our great-grandchildren saddled with Trillions in new debt destined for the swirling toilet of government spending, I see this whole ordeal as an uncontested victory for banks and the Too-Big-To-Fail corporations at the expense of taxpayers and personal liberties. While locked-down Americans clung to armfuls of toilet paper and N95 masks during medical martial law, TPTB got a bailout that most of us swore would never happen again. I believe history will show The Toilet Paper Apocalypse of 2020 to be the largest swindle of all time. The rich got richer and the rest of us paid for it.

    1. I think we will be paying for the bailout for many years to come. At best, some of us may see a small amount of money . Many who earned very little will get nothing; just why sending higher amounts to higher earners makes sense is beyond me. As usual, it’s the large corporations and the TBTF banks and finance companies that will get the lions share of the deal and we all get to pay for it. And yes, we will see further reductions in our civil liberties and people will be scared enough to let it happen.

    2. DD… this is a win for FED …uncontested…I believe the “ virus “ is being used to further an agenda…now we are being told what is “essential/ non essential “ … the Constitution and Bill of Rights are being trampled and one might say flushed down the toilet… being 65 years young with children and grandchildren this is sooooo disheartening to watch… yet I KNOW that The Lord has won and that we have our reward if we remain true to Him…. I find great comfort in the old hymn “ God Will Take Care of You “…

  3. Bail out or not bail out? Well if you work for a living and don’t have a fat bank account where do you think the money will come from to live? The companies that hire you and provide the necessities for life will be severely negatively impacted by this economic collapse. The bailout is not to make the rich richer (I can see why that is such a popular belief especially for people who do not understand economics). The bailout is to prevent that total collapse they we know as a great depression. If successful within a few months the economy will begin recovery and will once again be expanding and we will all be free to criticize those who made that happen. IMHO the problem is that we don’t teach economics in K-12 AND that we don’t teach the true history of the great depression. The great depression lasted for over 11 years and only ended when WW II broke out. IF they had bailed out the banks and businesses too big to fail the great depression would have been a great recession perhaps less than a year long. Your choice is to put the money where it will do the most good even if you don’t like that OR suffer for years and years because of not having learned anything from history.

  4. Republicans want to earmark staggering amounts of money for yet another corporate bailout (looking forward to the inevitable stock buybacks and obscene CEO bonuses?), and Democrats want to hold the country hostage in order to push their pet projects through (or as Pelosi’s minion James Clyburn recently said “This is a tremendous opportunity to restructure things to fit our vision.”).

    And as per usual, who loses? We, the people do.

    1. Many people will think they haven’t lost anything when that one thousand, or whatever the final number is, dollar check arrives. It will be a convenient distraction from business as usual.

      Carry on in grace

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