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It's easy to see this in graph form. 100K+ COVID deaths, 15%+ unemployment, wide spread homelessness, unaffordable housing crisis, riots and curfew in every maj
by vinhboy 6y ago
It's easy to see this in graph form. 100K+ COVID deaths, 15%+ unemployment, wide spread homelessness, unaffordable housing crisis, riots and curfew in every major American city.
Google DJIA to see a graph of how this has affected the wealthy...
I am not blaming the players (well some), but the game is rigged.
- brenden2 6y agoThe Federal Reserve injected trillions of free money into the markets, so naturally they went up.
- rcoder 6y agoThis IMHO defends, not defuses the preceding argument. When there was risk of the market crashing, the federal government injected trillions _into the market_. This primarily benefits those with significant capital investments, not those whose ability to provide for themselves and their families is tied directly to regular employment. Small business, retail and service workers, and employees whose jobs can't be trivially moved online are in desperate straights right now. The Fed's action did almost nothing for them.
- brenden2 6y agoJust FYI, I was agreeing with the parent (and I agree with you). QE is free money for rich people, and a big slap in the face to the poor.
- derg 6y agoAnd this is all _before_ evictions and foreclosures are allowed to start again. With the number of people already behind on rent and the number of people paying rent on credit cards it could get really ugly without any policy to mitigate this.