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$12 trillion Take a look at where the money went. Buying $800 billion of mortgage backed securities and 1.96 trillion in long term treasuries. A lot of other l
by bko 6y ago
$12 trillion
Take a look at where the money went. Buying $800 billion of mortgage backed securities and 1.96 trillion in long term treasuries. A lot of other line items. 1.54 trillion in Loan and Grant Programs. You can argue that these somehow all of these trickled down to keeping businesses open, as perfectly designed by the masters of the universe that have only our interests at heart, but I'm skeptical. I personally think a lot of these were designed to reinflate asset prices for the already wealthy capital holders. Why is it that asset prices re-inflated to pre-covid levels? Is the future prospects of these enterprises somehow much higher than pre-covid? How does this make sense?
https://www.covidmoneytracker.org/ https://www.covidmoneytracker.org/
- dlp211 6y agoI don't understand your argument, if asset prices are what they were pre-covid, then doesn't that represent a stabilization of the economy, not some sign of significant growth in the future. Also, the stock market is not the economy. Those treasuries are what allowed us to send money to people, to subsidize student loan interest, to fund extended UI benefits, to fund Operation Warp Speed, to purchase 100's of millions of doses of vaccines. There are valid critiques of our system, free markets, capitalism, and even some modicum of truth that the government does a lot to reward already successful people, but your pushing a bunch of rhetoric that is borderline conspiracy and not really backing it up an understanding of how the economy works.