Stimulus

Quote: SOOPOO

now seeing that they can just have the Fed make up more money at a whim

You think every member of Congress
for the last 100 years hasn't known
this? They know it inside and out,
upside and down. It's YOU who
didn't know it.

Quote: Evenbob

You think every member of Congress
for the last 100 years hasn't known
this? They know it inside and out,
upside and down. It's YOU who
didn't know it.

Wrong. I've known it for the past 3 decades or so. I think this has just opened up the floodgates. They had some low level Dem Congressman on who feels that they should institute a new, even bigger UBI... when asked how much it would cost, he matter of factly said 2 or 3 trillion dollars a year. "Just reverse the tax cuts for the wealthy..."

Quote: SOOPOO

Wrong. I've known it for the past 3 decades or so. I think this has just opened up the floodgates. "

Doom and gloom predictions, too much
CNN will do that..

Quote: Evenbob

You think every member of Congress
for the last 100 years hasn't known
this? They know it inside and out,
upside and down. It's YOU who
didn't know it.

So carping about funds for "the wall" or SS or some other fed program or other is just for show.

They will print to cover the SS funds that were looted years ago, they will print to cover debt payments and interest, to the treasury.

The question is, why collect IRS income taxes at all, when they can [and do] just print all the funds they want?

Quote: petroglyph

So carping about funds for "the wall" or SS or some other fed program or other is just for show.
?

It's what banana republics do, print
money till it's eventually worthless.
Germany did after WWI and it took
a million dollars to buy a loaf of
bread.

Quote: Evenbob

It's what banana republics do, print
money till it's eventually worthless.
Germany did after WWI and it took
a million dollars to buy a loaf of
bread.

Completely false comparison. Germany was in debt to an absurd amount after WW1 and had absurd restrictions placed on them making it not possible for a full recovery.

Quote: ams288

The GOP will NEVER allow either of these to happen.

Trump may support it, he has no hard economic philosophy, and he is loving the love he is getting from the stimulus checks, he very easily can be swayed by popular opinion.

And, Republicans will blindly follow Trump (except for a few extremes in the congress), so if (when in my opinion) Trump pushes for more checks with his name on them we will get them. Remeber this is an election year, and there is one thing he cares about (he has no grounded principles).

Quote: Gandler

Completely false comparison. Germany was in debt to an absurd amount after WW1 and had absurd restrictions placed on them making it not possible for a full recovery.

It does not matter why, they ran the printing press and destroyed their currency. In modern times Zimbabwe ran the presses to where they had trillion dollar notes. Some Latin American country I forget which just stamped bills "revalued" with extra zeros it got so bad.

It is why the sane ones here keep saying you cannot just print money. It never works, it is just a matter of how long you can get away with it. The USA had major inflation in the 70s to inflate away the debt of Vietnam War and Great Society spending. It will happen again.

Some of the state problems are due to not enough programmers who know COBOL.

https://www.theverge.com/2020/4/14/21219561/coronavirus-pandemic-unemployment-systems-cobol-legacy-software-infrastructure

Luckily the well crafted stimulus package has given Harvard $10,000,000. Because, you know, their endowment is only $41,000,000,000.