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Proposals to Help the Economy During the Covid-19 Crisis [pdf]

18 points by lettergram 7y ago

thedudeabides5 7y ago
wow print money for every american debt relief all over suspension of commercial rents no stock buy backs or dividends It's amazing what you can achieve with the combination of infinite printed money and total political will.
- mirimir 7y ago
  Except that it'd never make it through the Senate, or Trump. Although I gotta note that he has talked lots of populism. Or did I miss the invisible /s?
- spectramax 7y ago
  What's your central point or take away? Every European country, Japan, China, Korea, Switzerland, UK are providing relief to their population by "printing money". It is a temporariy (3 month) stimulus that lifts the lowest and the most vulnerable population while stimulates the middle-upper class in spending (video game sales are soaring, I read somewher 70% since the start of the epidemic, you can google the relative performance of gaming stocks vs. SPY).
docdeek 7y ago
In my country the government has already instituted a few of these points with regards to the coronavirus crisis. For example, my business taxes that are due to be paid this month and in the near future are being deferred, and there are apparently government-guaranteed business loans on the way (a lot of promises, not yet clear how it’l work). Maybe I am missing something, but it seems to me that things like deferring taxes due this month won’t do a lot to help me. These are taxes that are being paid on revenues I have already generated, and the text money is sitting in my account waiting to be extracted and paid. To me, that money is not ‘mine’ but it’s just sitting in my account waiting to be paid. Am I meant to spend it to keep the economy going? The taxes aren’t cancelled, just deferred - I’m still going to owe the money in taxes eventually. If I spend it now, I’ll have to find it later again… I’m not sure anyone (in my country or elsewhere) really understands right now the impact that this will have on the economy, or the best way to address it. Deferring taxes doesn’t seem to be useful to me, maybe it will be to others. Am. missing something? Maybe it is more useful for businesses with a precarious cashflow?
mirimir 7y ago
This makes total sense to me. Banks will sit on most money that they get. Little people will spend it. And they also actually need it.
justlexi93 7y ago
It's the world's economy that is affected during this pandemic.
- mirimir 7y ago
  OK, so also fund stuff through the UN.

18 points by lettergram 7y ago

wow print money for every american debt relief all over suspension of commercial rents no stock buy backs or dividends It's amazing what you can achieve with the combination of infinite printed money and total political will.

mirimir 7y ago
Except that it'd never make it through the Senate, or Trump. Although I gotta note that he has talked lots of populism. Or did I miss the invisible /s?
spectramax 7y ago
What's your central point or take away? Every European country, Japan, China, Korea, Switzerland, UK are providing relief to their population by "printing money". It is a temporariy (3 month) stimulus that lifts the lowest and the most vulnerable population while stimulates the middle-upper class in spending (video game sales are soaring, I read somewher 70% since the start of the epidemic, you can google the relative performance of gaming stocks vs. SPY).

docdeek 7y ago

In my country the government has already instituted a few of these points with regards to the coronavirus crisis. For example, my business taxes that are due to be paid this month and in the near future are being deferred, and there are apparently government-guaranteed business loans on the way (a lot of promises, not yet clear how it’l work). Maybe I am missing something, but it seems to me that things like deferring taxes due this month won’t do a lot to help me. These are taxes that are being paid on revenues I have already generated, and the text money is sitting in my account waiting to be extracted and paid. To me, that money is not ‘mine’ but it’s just sitting in my account waiting to be paid. Am I meant to spend it to keep the economy going? The taxes aren’t cancelled, just deferred - I’m still going to owe the money in taxes eventually. If I spend it now, I’ll have to find it later again… I’m not sure anyone (in my country or elsewhere) really understands right now the impact that this will have on the economy, or the best way to address it. Deferring taxes doesn’t seem to be useful to me, maybe it will be to others. Am. missing something? Maybe it is more useful for businesses with a precarious cashflow?

mirimir 7y ago

This makes total sense to me. Banks will sit on most money that they get. Little people will spend it. And they also actually need it.

justlexi93 7y ago

It's the world's economy that is affected during this pandemic.

mirimir 7y ago
OK, so also fund stuff through the UN.