Posted on 03/21/2020 7:25:06 AM PDT by Kaslin
They changed forever in 2009. Once you overrule 90% of the public and bail out big banks the argument for why anyone else should not be bailed out crumbles.
Well you can bum out, but imagine if Obama or Hillery were president right now. Then it WOULD be the end of the USA.
When exactly did Rome end?
My consolation is that while they are using Rham Emanuel’s playbook, it’s Trump at quarterback, not Baraq.
This bailout, which is different in nature than the 2009 bailout, made for the benefit of banks and financial institutions “too big to fail”, by directing the aid to those on the bottom end that are most impacted by the virtually total shutdown of the current economy, may end up by cementing in place the “populist” factions in the electorate. Both the “Tea Party” people and the “Occupy Wall Street” crowds are now fully awakened, though for polar opposite reasons.
The old way, the establishment and conventional wisdom crowds, have had their apple cart upended for good and all.
Much as I hate corporate bailouts, I recognized back in 2009 that the primary purpose of bailing out the banks wasn’t to enrich the bankers — it was to protect the value of the U.S. dollar by propping up the value of the assets on the books of these banks.
You are witnessing the green new deal in play in the shutting down of America.
It seems no one likes it....
Most politicians want an expansion of unemployment insurance so people have continuous income.
But whatever is done should be temporary and not a permanent change to the program because it will actually replace income and make it more likely for people to remain on assistance than to look for work.
We must also be careful as Democrats will want to make it easier for illegals to get these “emergency” benefits as well.
A couple of things different about this potential bailout versus the bailout in 2008/2009.
Back then the Bankers basically screwed themselves by ignoring commonsense in loaning any amount of money to anyone, reaping the huge profits and bonuses and then begging for a bailout which was delivered.
This time millions of small businesses are out of business thru no fault of their own, simply an a Governor or Mayor ordering businesses to close.
Just yesterday in Florida, the Governor ordered all restaurants to close except for carry out, previously all bars and nightclubs were closed without exception, simply put out of business...
Immediately these businesses laid off the vast majority of their employees.....
If the Government if going to bankrupt businesses by forcing them to close and leave millions unemployed the least we can do is provide some kind of support and hope when this is all over they can come back and open, rehire people and go forward...
Some historians cite 476 AD as the end of the Western Roman Empire.
Not according to some FReepers. Take a look at this gem:
"There are endless reports of businesses that will fail in days, but any business running that close to the edge is either under capitalized or over leveraged or has insufficient margins - or all three."
Essentially, the FReeper is suggesting "they had it coming".
A fatal flaw of our system. We can’t spend our way out of problems. I don’t trust most of government with our money.
I strongly suspect that person has never run a low margin high turnover business like a restaurant....
Now that people are stuck at home, I wonder if more will start cooking at home when this is over?
Yes, and there would be a lot more complaining around here over "trillion dollar bailouts" than there is now.
Well Kusdlow says it’s closer to 2 Trillion or more so I guess it will change things for two forevers.
The bailout needs to be cancelling people’s debt to the banks.
Creating more debt-based money makes the situation worse, not better.
That’s going to be several trillion. Not one trillion.
The people already expect the government to save them from all harm. Because the government pays people to rebuild after a natural disaster, the people rebuild in the exact same location that is prone to disaster, meaning that it will be destroyed again, and the government will pay them again, etc, etc.
The current crisis shows how much the people expect the government to do everything. Government’s response is going to raise expectations, so the people will always demand more.
In Britain the government is paying 80% of wages! Will it happen here? It’s close to that. Under sanders it would have happened.
Government does not produce money. It only redistributes it. People working productively produce money. Half the people are out of work now.
Get it? Few working. Government spending like a madman. Results: Recession and/or runaway inflation.
Remember during the Clinton inauguration flyover when Ron Silver said “those are our planes now”?
Those are our bailouts now....
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