Where Will The Money Go?

Thom plus logo The Federal Reserve said yesterday that they could pump over $2 trillion into the economy, while other reports suggested it could be over $4 trillion. All of this is done without oversight and regulation by Congress, based on decisions made exclusively by the Fed.

In 2008, in the wake of the Bush Crash, the Fed passed out trillions of dollars to billionaires and big banks, bailing out the wealthy and powerful. It looks like we're set for a repeat of that performance.

Will there be a bailout for average people, poor people, and the homeless? Not so much, as Republicans complain about the cost of helping average people and resist a call for regular monthly payments, and Ivanka Trump is put in charge of the small business effort so, presumably, the Trump family businesses can take good care of themselves...

-Thom

Comments

deepspace's picture
deepspace 6 weeks 5 days ago
#1

In regard to the previous thread, people left alive in November should vote as if their lives depend on it. They do. Imagine the dystopian future with this guy and his party of sycophants in charge for another four years!

Check out the fourth graph on the website below called "How confirmed cases of coronavirus have spread." It's an easy-to-understand visual that Rachael had on her show, which doesn't require much explanation other than to comment on how shocking and demoralizing it is to see the richest, most powerful country on Earth fail her citizenry so miserably, especially when her leaders absolutely knew well in advance what was heading straight at us. This was a monumental failure of leadership on a genocidal scale. There is simply no excuse:

https://www.bbc.com/news/world-51235105

Legend 6 weeks 5 days ago
#2

All of this spending of money that we do not have has to create inflation. There has been zero discussion on raising money (taxes, tariffs etc.) to pay for it. Zero discussion on cutting spending (military etc.). If you are on a fixed income prepare for the devaluation of your income. Also prepare for a strong Republican attack on your (they will emphasize the word) ENTITLEMENTS (ie Social Security and Medicare the entitlements that you are entitled to because you paid for them).

Post #1. The saddest part, that I see is, how we totally ignored and still ignore what the successful countries, against this virus, did. We suggest masks, when they obviously reduce the spread (Taiwan 24 million, 365 cases, 5 deaths, everybody wears masks). We have daily flights coming in from hot spots like Brazil. There are several states that do not take social distancing seriously or took it up way to late. Trump wants to restart the Economy. It would be restarting if he had done something (other than play golf) at the beginning. But restarting it now will be devastating to the country as it will come back with a vengence. Actually it has not left.

joes1st 6 weeks 5 days ago
#3

I've not heard this mentioned - I think it's important to realize we are not yet realizing just how early the tRump administration must've known about thie Covid-19 virus. When one considers how much Ivanka must've gone to China to tend to business ventures and the level of security that must be around her in wide and very ways, one must deduce that the White House must've known much earlier than we are being led to believe.

deepspace's picture
deepspace 6 weeks 5 days ago
#4

#3: It's no longer necessary to deduce; the timeline now on record makes it abundantly clear.

Just for starters: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16

deepspace's picture
deepspace 6 weeks 4 days ago
#5

#2: Exactly right. The experts and the evidence agree that the quicker we would have increased the manufacture of sufficient medical supplies, instituted intelligent travel restrictions, strict social distancing, personal protection, testing to see who's got it, and testing to see who's immune, the quicker the virus would have been better managed and possibly contained, and the quicker the economy could have rebounded.

But we live inside Trump's deluded nightmare, so the pandemic and economic pain will likely drag out in waves back and forth across the country interminably as the economic engine tries to sputter back to life.

Science -- not religion -- will ultimately develop the cure. Or, until we have that vaccine, possibly some of the more promising anti-viral drugs, etc., could mitigate the symptoms or hopefully even keep a weakened immune system from overreacting, which in too many cases leads to a vicious, losing battle against a virus that can destroy enough lung tissue to cause acute respiratory distress syndrome (ARDS) and death.

Even with a ventilator, it becomes too hard to push an adequate supply of oxygen through a glue-like fluid to the fewer and fewer functioning cells in the lungs' air sacs. Finally, the heart gives out while the body is suffocating and spasming. It's a bad way to go. Ask that patient or his or her family if Trump's precious rich-man economy, reelection numbers, and happy horesh*t is worth life itself.

avn013's picture
avn013 6 weeks 4 days ago
#6

#2: Why should "billionaires" like Trump bother about inflation? Most of their wealth is not money, it is companies, buildings, and other facilities that generate money. Inflation reduces the buying power of people who earn money by working at companies etc that generate money. The same stands for at least some of the politicians (both R &D) who vote these laws. In addition, the politicians add insult to injury by increasing taxation to delay the increase of deficit. They produce the deficit, others pay for it. "Ideal" con job. No wonder orange people are supported for presidents. The wonder is how Obama managed to be elected for two consecutive terms. All rules have an exception, i guess. And it looks like a once in a century exception.....

Legend 6 weeks 4 days ago
#7

#6. Every Republican has decreased taxes (revenue) and increased spending. Each time this is done, the markets get a sugar high. Then it crashes. Each Republican has taken us into a recession or Depression. Each time the Democrats get elected they have to clean up the mess that the Rpublicans left.

Legend 6 weeks 4 days ago
#8

The Horror.

Legend 6 weeks 4 days ago
#9

#9. Can you elaborate on what is wrong with any of those headlines? The Democrats protect the working man and the Republicans protect the 1%. Maybe you should study what Trump has done with the last bills $500 billion slush fund oversite.

deepspace's picture
deepspace 6 weeks 3 days ago
#10

He descended into Hell on Tuesday, November 8, 2016. A long, long time later, He rose again. Upon seeing Trump's black shadow still spreading across the land, He predicted at least six more weeks of quarantine, probably longer. Then, He returned to His tomb to shelter in place until Tuesday, November 3, 2020.

Will Americans Risk Death To Vote Trump Out Of Office?

Thom plus logo The contours of Donald Trump's reelection strategy are coming into view. It appears he's trying to get as many people infected as possible in red states and swing states, so by November they will have herd immunity and can go vote.

Latest Headlines

Who rejected United States-North Korea peace talks?

There were conflicting reports on Sunday regarding a recent proposal for United States-North Korea peace talks which was allegedly made before North Korea"s recent nuclear test

U.K. Pound Falls As Markets Get Brexit Jitters

Bloomberg said on Monday the pound had sustained its biggest fall against the dollar in 11 months

Clinton: I'll defend Israel but push for 'two-state solution

Hillary Clinton believes both Republican candidates Donald Trump and Ted Cruz "missed the mark" with their approach to the Israel-Palestinian Arab conflict
From Cracking the Code:
"Thom Hartmann ought to be bronzed. His new book sets off from the same high plane as the last and offers explicit tools and how-to advice that will allow you to see, hear, and feel propaganda when it's directed at you and use the same techniques to refute it. His book would make a deaf-mute a better communicator. I want him on my reading table every day, and if you try one of his books, so will you."
Peter Coyote, actor and author of Sleeping Where I Fall
From The Thom Hartmann Reader:
"Thom Hartmann is a creative thinker and committed small-d democrat. He has dealt with a wide range of topics throughout his life, and this book provides an excellent cross section. The Thom Hartmann Reader will make people both angry and motivated to act."
Dean Baker, economist and author of Plunder and Blunder, False Profits, and Taking Economics Seriously
From Cracking the Code:
"In Cracking the Code, Thom Hartmann, America’s most popular, informed, and articulate progressive talk show host and political analyst, tells us what makes humans vulnerable to unscrupulous propagandists and what we can do about it. It is essential reading for all Americans who are fed up with right-wing extremists manipulating our minds and politics to promote agendas contrary to our core values and interests."
David C. Korten, author of The Great Turning: From Empire to Earth Community and When Corporations Rule the World and board chair of YES! magazine