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I think a quote from Bernie Sanders encapsulates the problem: "in the US, we have socialism for the rich, and rugged individualism for the poor". Corporate lob

I think a quote from Bernie Sanders encapsulates the problem: "in the US, we have socialism for the rich, and rugged individualism for the poor". Corporate lobbyists know the government is a cash cow, and they take advantage of this. They will always get relief if they ask for it. Direct payments are the opposite of this.

nostromo 6y ago
When you dramatically expand the money supply you make the rich richer. It doesn't matter how the money is distributed, it tends to inflate asset prices, and the people who own the most assets (the rich) reap the rewards in the end. If you wanted to stop that, you'd have to actually pay for your spending, perhaps by implement some sort of wealth tax or dramatically increasing income taxes. Of course, nobody wants to increase taxes, so we just keep printing money to try and fix every problem.
- flurben 6y ago
  What you just said is factually incorrect. Expanding the monetary supply does not "make the rich richer."
- sebmellen 6y ago
  The number of people who are homeless, in medical debt, and unable to work or make any money due to limited skillsets and COVID is astounding. These people need some type of immediate help, and if they don't receive it, the effects will be far more detrimental than the effects of fiscal stimulus. And I think you're confusing monetary stimulus with fiscal stimulus. > It doesn't matter how the money is distributed, it tends to inflate asset prices For the US, that's not true. The US Dollar is the world's reserve currency, and the Fed isn't worried about inflation, but a lack of money supply. The pandemic has led to a huge demand for safe assets, including Treasury bonds, which has led to incredibly low interest rates on Treasury bonds, and a stronger dollar. See, for example, this article: https://www.washingtonpost.com/business/2020/04/05/what-2-trillion-coronavirus-bailout-is-really-going-cost/ https://www.washingtonpost.com/business/2020/04/05/what-2-tr....

nostromo 6y ago

When you dramatically expand the money supply you make the rich richer. It doesn't matter how the money is distributed, it tends to inflate asset prices, and the people who own the most assets (the rich) reap the rewards in the end. If you wanted to stop that, you'd have to actually pay for your spending, perhaps by implement some sort of wealth tax or dramatically increasing income taxes. Of course, nobody wants to increase taxes, so we just keep printing money to try and fix every problem.

flurben 6y ago
What you just said is factually incorrect. Expanding the monetary supply does not "make the rich richer."
sebmellen 6y ago
The number of people who are homeless, in medical debt, and unable to work or make any money due to limited skillsets and COVID is astounding. These people need some type of immediate help, and if they don't receive it, the effects will be far more detrimental than the effects of fiscal stimulus. And I think you're confusing monetary stimulus with fiscal stimulus. > It doesn't matter how the money is distributed, it tends to inflate asset prices For the US, that's not true. The US Dollar is the world's reserve currency, and the Fed isn't worried about inflation, but a lack of money supply. The pandemic has led to a huge demand for safe assets, including Treasury bonds, which has led to incredibly low interest rates on Treasury bonds, and a stronger dollar. See, for example, this article: https://www.washingtonpost.com/business/2020/04/05/what-2-trillion-coronavirus-bailout-is-really-going-cost/ https://www.washingtonpost.com/business/2020/04/05/what-2-tr....