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I understand from the perspective of competence why the US wasn’t able to freeze mortgages/rents and absorb payrolls as other countries have, but it really seem

I understand from the perspective of competence why the US wasn’t able to freeze mortgages/rents and absorb payrolls as other countries have, but it really seems like they missed their shot to save Capitalism. Millions upon millions of unemployed people, many watching their friends and family die from disease, a psychotic, entrenched politics, that caters primarily to corrupt elites... Historically, things don’t go very well from here.

DamnYuppie 7y ago
Save capitalism? I think that is a great over reaction, the Great Depression, crash of 87, nor of 2008 stopped it. So I am quite certain this will be but a hiccup when we look back 10 years from now.
- claudeganon 7y ago
  We’re heading beyond Great Depression territory and that was only stabilized by massive social democratic interventions in the form of the New Deal. People like to forget how popular both fascism and communism became in the US during this period.
- pixl97 7y ago
  >Great Depression > So I am quite certain this will be but a hiccup > ignoring the mass death of WWII It's not about saving capitalism, it's about saving people from terrible outcomes.
- standardUser 7y ago
  The Great Depression resulted in the welfare state. It forever changed the balance between state and private sectors. It certainly was not a hiccup.
bitcurious 7y ago
>freeze mortgages/rents and The CARES Act has a provision regarding mortgage payments that basically requires that federally backed mortgages be frozen for up to 6 months, should the payee request it and claim to be impacted by COVID-19. >absorb payrolls as other countries have CARES Act has $350 Billion set aside for small business payroll expenses. There are separate provisions for Airlines, other specific industries. Furthermore, the CARES Act has extended and expanded unemployment benefits to anyone impacted by COVID, and has temporarily grown the benefit by $600/week, meaning that unemployment benefits are now total wage replacement (or better) for the median American.
- claudeganon 7y ago
  ...and go read about how all of that is being dispersed and implemented. Unemployment systems overwhelmed, the SBA fund is running dry and many still not know how to get over the bureaucratic hurdles, most mortgages are not federally-backed. It would’ve been more efficient and avoided the disastrous consequences of poor implementation to just do blanket payments and freezes.

DamnYuppie 7y ago

Save capitalism? I think that is a great over reaction, the Great Depression, crash of 87, nor of 2008 stopped it. So I am quite certain this will be but a hiccup when we look back 10 years from now.

claudeganon 7y ago
We’re heading beyond Great Depression territory and that was only stabilized by massive social democratic interventions in the form of the New Deal. People like to forget how popular both fascism and communism became in the US during this period.
pixl97 7y ago
>Great Depression > So I am quite certain this will be but a hiccup > ignoring the mass death of WWII It's not about saving capitalism, it's about saving people from terrible outcomes.
standardUser 7y ago
The Great Depression resulted in the welfare state. It forever changed the balance between state and private sectors. It certainly was not a hiccup.

bitcurious 7y ago

>freeze mortgages/rents and The CARES Act has a provision regarding mortgage payments that basically requires that federally backed mortgages be frozen for up to 6 months, should the payee request it and claim to be impacted by COVID-19. >absorb payrolls as other countries have CARES Act has $350 Billion set aside for small business payroll expenses. There are separate provisions for Airlines, other specific industries. Furthermore, the CARES Act has extended and expanded unemployment benefits to anyone impacted by COVID, and has temporarily grown the benefit by $600/week, meaning that unemployment benefits are now total wage replacement (or better) for the median American.

claudeganon 7y ago
...and go read about how all of that is being dispersed and implemented. Unemployment systems overwhelmed, the SBA fund is running dry and many still not know how to get over the bureaucratic hurdles, most mortgages are not federally-backed. It would’ve been more efficient and avoided the disastrous consequences of poor implementation to just do blanket payments and freezes.