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  • Originally posted by Foster4Prez View Post

    It's almost like the gig economy isn't sustainable and no one important gives a shit.
    A lot of those numbers are restaurants and such.

    Comment


    • Originally posted by Deschet View Post

      A lot of those numbers are restaurants and such.

      Yup, even the ones open are on a skeleton staff. Servers are out. It’s basically kitchen, and owner/manager to process cards hand out orders. All Starbucks/coffee shops are closed in Philly.

      Comment


      • Originally posted by Deschet View Post

        If...
        Agis?

        Comment


        • Dow futures turned positive Thursday after the Federal Reserve unveiled details of its much-anticipated Main Street lending program and other initiatives — $2.3 trillion in efforts aimed at supporting the economy. Later in the morning, Fed Chairman Jerome Powell talks at a Brookings Institution webinar about the central bank's coronavirus intervention measures.
          https://www.cnbc.com/2020/04/09/dow-...-programs.html

          Remember when conservatives were complaining about the inflationary effects of $400 billion being redistributed to most Americans? That was fun, wasn't it?

          Comment


          • Originally posted by Spartan View Post

            https://www.cnbc.com/2020/04/09/dow-...-programs.html

            Remember when conservatives were complaining about the inflationary effects of $400 billion being redistributed to most Americans? That was fun, wasn't it?
            You mean... like... earlier in this thread.

            Originally posted by ibleed View Post

            In my experience, all it ends up doing is trigger inflation. Experienced it during the Katrina recovery.

            I'm fine with deferring liability payments (rent, mortgages, student loans, car notes, etc). I'm fine with providing zero or near zero loans for businesses to keep operations afloat. I'm even fine with temporarily lifting income requirements for food assistance. But simply paying out cash is not a good idea.

            And to make matters worse, they are not only giving out cash, they are probably going to have some retarded low threshold so that, like every other aid/benefit program, there will be a fuckton of people caught in between making too much to qualify and making too little to ride it out.

            I know I'm in the minority, but I have a feeling this will not work.

            Comment


            • Originally posted by Spartan View Post

              https://www.cnbc.com/2020/04/09/dow-...-programs.html

              Remember when conservatives were complaining about the inflationary effects of $400 billion being redistributed to most Americans? That was fun, wasn't it?
              This should be a case study for everyone that thinks printing the coin would lead to a global stock market collapse. Of course, those people also still think money is real.

              Comment


              • Originally posted by Spartan View Post

                https://www.cnbc.com/2020/04/09/dow-...-programs.html

                Remember when conservatives were complaining about the inflationary effects of $400 billion being redistributed to most Americans? That was fun, wasn't it?
                Don’t be a retard, even if it helps your cause. Currently, the value of the dollar is artificially high because it’s being viewed as a safe haven. When that changes (and it will, right around the same time this whole blows over), the rubber band is going to snap back hard. In other words, spend your Trump bux ASAP.

                Comment


                • Originally posted by Foster4Prez View Post

                  This should be a case study for everyone that thinks printing the coin would lead to a global stock market collapse. Of course, those people also still think money is real.
                  Man, if only we had historical examples of people who think they can throw caution to the wind and pretend sound monetary policy is a meme.

                  Oh well, I guess we’ll find out.

                  Comment


                  • Originally posted by tOSUfanboi2 View Post

                    Man, if only we had historical examples of people who think they can throw caution to the wind and pretend sound monetary policy is a meme.

                    Oh well, I guess we’ll find out.
                    Spain aside, most examples of that are finding where the arrow landed and painting a target around it.

                    Comment


                    • Originally posted by Spartan View Post

                      Spain aside, most examples of that are finding where the arrow landed and painting a target around it.
                      This is your brain on central planning.

                      Money, and by that I mean mediums of exchange, exist whether you like it or not, and its impact on the world is very, very real. We can argue over whether or not the current system (fractional reserve banking/fiat currency issued by a central bank) is the best way to go, but that’s as far as the conversation goes.

                      If you print your currency into oblivion, you will see inflation and your currency will lose value, sometimes substantially over a very short period. Nobody anywhere debates that fact, the only question is whether or not it’s a long term net positive to fire up the printing press in the short term to address crisis situations. Personally, I say no. Others like Paul Krugman think it’s a good idea, because they operate under the delusion that politicians have any interest in doing what’s right and sensible in the long term when all evidence we have suggests otherwise. Much like their corporate owners, their only real interest is in short term gain regardless of the cost, so they’ll always come up with another excuse. Just look at this covid 19 nonsense. A disease that will likely kill comparable number of people as the seasonal flu is being used as justification to create trillions of dollars out of thin air, and do you know why? To keep the bubble economy and the zombie corporations it consists of afloat, and you know what? It’s going to happen again, and again, and again, and again with increasingly large sums of money until our currency isn’t worth jack shit and the entire global financial system is forced into a reset.

                      Comment


                      • Originally posted by tOSUfanboi2 View Post

                        This is your brain on central planning.

                        Money, and by that I mean mediums of exchange, exist whether you like it or not, and its impact on the world is very, very real. We can argue over whether or not the current system (fractional reserve banking/fiat currency issued by a central bank) is the best way to go, but that’s as far as the conversation goes.

                        If you print your currency into oblivion, you will see inflation and your currency will lose value, sometimes substantially over a very short period. Nobody anywhere debates that fact, the only question is whether or not it’s a long term net positive to fire up the printing press in the short term to address crisis situations. Personally, I say no. Others like Paul Krugman think it’s a good idea, because they operate under the delusion that politicians have any interest in doing what’s right and sensible in the long term when all evidence we have suggests otherwise. Much like their corporate owners, their only real interest is in short term gain regardless of the cost, so they’ll always come up with another excuse. Just look at this covid 19 nonsense. A disease that will likely kill comparable number of people as the seasonal flu is being used as justification to create trillions of dollars out of thin air, and do you know why? To keep the bubble economy and the zombie corporations it consists of afloat, and you know what? It’s going to happen again, and again, and again, and again with increasingly large sums of money until our currency isn’t worth jack shit and the entire global financial system is forced into a reset.
                        Money is an illusion. The only way that will change is with a scourge of the population that reaches Biblical proportions BECAUSE those who have the most of it are those who make the rules and desire the illusion to continue.

                        As far as printing new money into inflationary ruin, the USA is exclusively immune to that due to one little thing: The world trade system operates on the mighty dollar. Change that, and printing US dollars would be just as devastating to the dollar as it has been for other country's money.

                        Comment


                        • The Fed had $2.3 trillion just lying around to toss into the economy? How many homeless veterans died on the streets last winter? How many of those could have been saved by being given a small apartment? How many billions (not trillions) would that have cost us?

                          Imagine being in control of trillions of dollars that you can give out willy nilly and you walk by a homeless vet by Union Station and turn your pockets inside out and say "sorry, not today"?

                          This country is fucked up.

                          Comment


                          • Originally posted by DPR View Post
                            The Fed had $2.3 trillion just lying around to toss into the economy? How many homeless veterans died on the streets last winter? How many of those could have been saved by being given a small apartment? How many billions (not trillions) would that have cost us?

                            Imagine being in control of trillions of dollars that you can give out willy nilly and you walk by a homeless vet by Union Station and turn your pockets inside out and say "sorry, not today"?

                            This country is fucked up.
                            People have to pull themselves up by their bootstraps.

                            Corporations need help please.

                            Comment


                            • Originally posted by Foster4Prez View Post

                              People have to pull themselves up by their bootstraps.

                              Corporations need help please.
                              I feel like I owe the Sanders campaign an apology for making fun of their Bernie Math with regards to paying for his proposals. Forgiving student loan debt wouldn't even be a blip on the radar. M4A would be a bargain.

                              I wonder how much more money the Fed can just dump into the economy? I feel like they dumped 3-4 trillion in a few weeks ago. Do they just have a massive money machine that they just fire up and start printing whenever they want?

                              Comment


                              • Originally posted by tOSUfanboi2 View Post

                                This is your brain on central planning.

                                Money, and by that I mean mediums of exchange, exist whether you like it or not, and its impact on the world is very, very real. We can argue over whether or not the current system (fractional reserve banking/fiat currency issued by a central bank) is the best way to go, but that’s as far as the conversation goes.

                                If you print your currency into oblivion, you will see inflation and your currency will lose value, sometimes substantially over a very short period. Nobody anywhere debates that fact, the only question is whether or not it’s a long term net positive to fire up the printing press in the short term to address crisis situations. Personally, I say no. Others like Paul Krugman think it’s a good idea, because they operate under the delusion that politicians have any interest in doing what’s right and sensible in the long term when all evidence we have suggests otherwise. Much like their corporate owners, their only real interest is in short term gain regardless of the cost, so they’ll always come up with another excuse. Just look at this covid 19 nonsense. A disease that will likely kill comparable number of people as the seasonal flu is being used as justification to create trillions of dollars out of thin air, and do you know why? To keep the bubble economy and the zombie corporations it consists of afloat, and you know what? It’s going to happen again, and again, and again, and again with increasingly large sums of money until our currency isn’t worth jack shit and the entire global financial system is forced into a reset.
                                I'm not a tankie.

                                Money, as in media for exchange, exist because they were invented by human beings. They are a concrete means for ensuring the inherent human desire for fairness. Humans desire credit for the effort that is required to achieve a thing. Money represents that time and effort. The problem is that capitalism perverts this tool to achieve fairness by encouraging humans to be greedy. Instead of being fairly distributed per the effort put in, those with the most have found ways to ensure that they keep the most regardless of how much effort they contribute to society.

                                The problem with Keynesian economics is that people in power are incentivized by those with money to ensure that they receive more money. They receive far less pressure from individual common constituents than they do from a single wealthy individual. That makes them far more responsive to wealth than they are to the people. Unless you're willing to drastically change both the government and economy of the country, that will continue to be the case.

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