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You are mistaken. People have been (I believe it stopped now everywhere) $600 PER WEEK in addition to unemployment, AND the two stimulus checks of ~$2000 total,

You are mistaken. People have been (I believe it stopped now everywhere) $600 PER WEEK in addition to unemployment, AND the two stimulus checks of ~$2000 total, one of which you referred to. And on top of that, many people have stopped paying their rent due to the "eviction moratorium" that has left property owners with nothing but likely un-collectable debt. As someone who has also remained essentially totally unaffected like most or at least a large part of us here probably, I can tell you that there is a whole set of consequences lurking in the shadows that many people are not even been aware of, largely because it has been intentionally obscured in hopes that it will all just go away … or something.

testfoobar 5y ago
There is also the Child Tax Credit. "$3,000 to $3,600 per child for nearly all working families The Child Tax Credit in the American Rescue Plan provides the largest child tax credit ever and historic relief to the most working families ever." https://www.whitehouse.gov/child-tax-credit/ https://www.whitehouse.gov/child-tax-credit/
- overeater 5y ago
  Plus the fraud. I know in some neighborhoods almost everyone is getting "their $10K small business loan", sharing tips on group chat about how to lie on the forms.
  - germinalphrase 5y ago
    You know that? Here’s the tip line: https://coronavirus.house.gov/contact/tip-line https://coronavirus.house.gov/contact/tip-line
    - frankfrankfrank 5y ago
      I hate to chuckle, but you should start mentally adjusting to the fact that the rule of law is at best a selectively enforced thing at this point. I suspect that these many instances of fraud may even be used as leverage against people whenever it may be needed. I say that because I know that kind of thing is done and I would do exactly that if it ever came up. Anyone who has fraudulently taken any of those "loans" is not totally compromised to run or not to run for office or to hold certain positions or say certain things.
      - MrPatan 5y ago
        What do you mean? Who cares who did what wrong thing, it would all depend on which news about it the media, twitter, and facebook decide to suppress or amplify, wouldn't it? Can you not think back to a couple of instances of people running for pretty high offices when that was the case?
    - overeater 5y ago
      It's already been reported, and little enforcement. https://www.bloomberg.com/news/features/2020-10-29/small-business-administration-10-000-grant-fraud-went-viral-hurting-program https://www.bloomberg.com/news/features/2020-10-29/small-bus...
  - Craighead 5y ago
    Yeah, pay attention to the small theft instead of the big theft, like a good worker bee.
dghlsakjg 5y ago
The eviction moratorium ended, so did the $600/week. Presumably we should start to see a big deflation, and an oversupply of available housing as a result if this theory is right.
- betwixthewires 5y ago
  Well the money is already in the economy now, the only way you see deflation is if that reverses, not just stops. You're probably right that as evictions begin to happen there will be a reduction in housing costs, so that is good. But as far as the new money circulating, the inflation rate might just go back to normal but the inflation that already happened is probably here to stay.
tootie 5y ago
But those checks were issued in the face of a massive spike in unemployment so they were just filling part of the gap left by missing wages.
- dionidium 5y ago
  Crucially, they exceeded the gap left by missing wages. Poverty in the U.S. actually fell last year.
  - camel_Snake 5y ago
    Not sure which stat you are referring to, but if they are lumping child poverty in the general aggregate then a significant portion of that relief comes from the expanded Child Tax Credit. https://www.cnbc.com/2021/08/25/child-tax-credit-lifted-3-million-kids-from-poverty-in-july.html https://www.cnbc.com/2021/08/25/child-tax-credit-lifted-3-mi...
    - dionidium 5y ago
      I'm probably conflating the effects. Thanks for the correction.

testfoobar 5y ago

There is also the Child Tax Credit. "$3,000 to $3,600 per child for nearly all working families The Child Tax Credit in the American Rescue Plan provides the largest child tax credit ever and historic relief to the most working families ever." https://www.whitehouse.gov/child-tax-credit/ https://www.whitehouse.gov/child-tax-credit/

overeater 5y ago
Plus the fraud. I know in some neighborhoods almost everyone is getting "their $10K small business loan", sharing tips on group chat about how to lie on the forms.
- germinalphrase 5y ago
  You know that? Here’s the tip line: https://coronavirus.house.gov/contact/tip-line https://coronavirus.house.gov/contact/tip-line
  - frankfrankfrank 5y ago
    I hate to chuckle, but you should start mentally adjusting to the fact that the rule of law is at best a selectively enforced thing at this point. I suspect that these many instances of fraud may even be used as leverage against people whenever it may be needed. I say that because I know that kind of thing is done and I would do exactly that if it ever came up. Anyone who has fraudulently taken any of those "loans" is not totally compromised to run or not to run for office or to hold certain positions or say certain things.
    - MrPatan 5y ago
      What do you mean? Who cares who did what wrong thing, it would all depend on which news about it the media, twitter, and facebook decide to suppress or amplify, wouldn't it? Can you not think back to a couple of instances of people running for pretty high offices when that was the case?
  - overeater 5y ago
    It's already been reported, and little enforcement. https://www.bloomberg.com/news/features/2020-10-29/small-business-administration-10-000-grant-fraud-went-viral-hurting-program https://www.bloomberg.com/news/features/2020-10-29/small-bus...
- Craighead 5y ago
  Yeah, pay attention to the small theft instead of the big theft, like a good worker bee.

dghlsakjg 5y ago

The eviction moratorium ended, so did the $600/week. Presumably we should start to see a big deflation, and an oversupply of available housing as a result if this theory is right.

betwixthewires 5y ago
Well the money is already in the economy now, the only way you see deflation is if that reverses, not just stops. You're probably right that as evictions begin to happen there will be a reduction in housing costs, so that is good. But as far as the new money circulating, the inflation rate might just go back to normal but the inflation that already happened is probably here to stay.

tootie 5y ago

But those checks were issued in the face of a massive spike in unemployment so they were just filling part of the gap left by missing wages.

dionidium 5y ago
Crucially, they exceeded the gap left by missing wages. Poverty in the U.S. actually fell last year.
- camel_Snake 5y ago
  Not sure which stat you are referring to, but if they are lumping child poverty in the general aggregate then a significant portion of that relief comes from the expanded Child Tax Credit. https://www.cnbc.com/2021/08/25/child-tax-credit-lifted-3-million-kids-from-poverty-in-july.html https://www.cnbc.com/2021/08/25/child-tax-credit-lifted-3-mi...
  - dionidium 5y ago
    I'm probably conflating the effects. Thanks for the correction.