4 ms·

10K? What are you talking about? We blew 30 Trillion! in a month! With that we could give every person in the USA 90K!

• downerending 6y ago
  That was just a for-instance. That said, the $30T probably hasn't actually been expended. Rather, it was used to buy assets that are likely worth less than $30T right now. How much less? Who knows. My guess, though, is that the Fed (or Feds) will eventually recoup most of that. When you give peons like us $10K, you don't get any of it back, except in taxes. I'm not that knowledgeable on the subject, but I do know that when given a choice between keeping your seed corn dry and eating it, you need to think very hard about what you're doing.
  • cmendel 6y ago
    >When you give peons like us $10K, you don't get any of it back, except in taxes. Where do you think it goes exactly? This might help explain our disconnect: https://en.wikipedia.org/wiki/Velocity_of_money https://en.wikipedia.org/wiki/Velocity_of_money
    • downerending 6y ago
      I was specifically addressing the idea that $30T was given to companies. This simply isn't correct. A better analogy would be if the government decided to "give" $90K to each homeowner in return for a $90K share in their home equity (valued according to some plausible marking). That's very different than simply giving them $90K with no strings attached. Certainly something is being given, but it's not worth anything like $90K.