Clyde_Style wrote:stuporman wrote:
Let's not ignore the looming homeless crisis as soon as the eviction moratorium ends because millions will owe more than they can pay with little to no income and no savings. Think about a January in the middle of winter and twindemic with millions of people getting kicked out of their homes.
Trump will have produced the greatest tidal wave of evictions and homelessness imaginable. This is getting really ugly fast.
Biden's going to have to explode the national debt to bail out millions of people from this situation. Trump won't do it, but Biden will be forced to by circumstances. Some of the Euro countries pretty much did it pre-emptively and nobody got tossed into the street because they couldn't make rent. And that was smart, because it is better for their economies to have people housed and stable and capable of working while preventing defaults on mortgages.
You mean more than the ten trillion plus that Trump has already exploded the debt for the benefit of the wealthy and corporations?
Here's a secret about 'national debt'... as a country that prints it's own money which happens to also be the world reserve currency the national debt is insignificant and that 'debt' point only serves to be used as a political ploy by whoever wants to push a narrative with it.
I've been listening to some very well educated economists the past couple years to get a better understanding of macro economics and they say some very interesting things that aren't standard mainstream talking points or concepts.
For one thing the whole currency system is a big 0... meaning the 'national debt' is merely a 'credit' elsewhere. Where? In our economy. Every dollar of national debt is public wealth and a dollar working in the economy so to erase the debt it needs to be taken from the populous. The national budget doesn't operate like personal or business budget.
The reason for taxes is taught to us as a curb inflation because too many dollars chasing goods and services will drive up prices. Except that hasn't been happening for...um.... the whole existence of the Federal Reserve Bank. The only inflation in the US came from scarcity of raw materials or supply chain disruption.
Taxes don't pay for government services..... let me repeat that in bold
TAXES DON'T PAY FOR GOVERNMENT SERVICES. They can do anything they want as far as expenditures and programs regardless of the tax money that is collected. Expenditures happen before and don't rely on taxes but what they pay for can either help or hurt an economy, not whether it is 'debt'.
There are a number of reasons why inflation doesn't effect the US, one I already mentioned about global reserve currency but another is globalization itself. The few things that cannot be cheaply outsourced is real estate, equities and to a degree health care which is why those things are inflating in prices.
The government can bailout the people directly, back rent & mortgages, college debt even cash right into their accounts month after month for years or permanently if they wanted....without relying on 'taxes' to pay for it.
All of this demand side funding would not just make everyone's lives better immediately and in the long run it would create so much economic activity plus an increase in innovation and GDP there would be another 'new deal' boom for decades.
Believe it or not they don't want that, they want 90%+ of the population struggling to survive day to day always on the edge of calamity. They do this because they want to control people, that fragility allows them to manipulate people into voting them into power again and again.
The top small percentage will make their wealth either way and they keep everybody else under their thumb so they won't ever be challenged. This is why they don't want widespread economic prosperity because when people are suffering and struggling they can't change anything.
This isn't new.... it's been going on for thousands of years. We just have fancier gadgets and tools now but it's the same primitive ways.