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The COVID stimulus programs were a sort of UBI program. We're now starting to see mass inflation in part due to lower labor participation and excess liquidity.
by optimiz3 5y ago
The COVID stimulus programs were a sort of UBI program. We're now starting to see mass inflation in part due to lower labor participation and excess liquidity.
Obviously only part of the picture as quantitative easing and low rates are also driving excess liquidity, and omicron is also driving lower short-term labor participation.
- asow92 5y agoEmphasis on the sort of part; universal means universal—everyone gets it. It's not Universal Guaranteed Income, it's Universal Basic Income. My wife and I worked the whole time and we made too much to ever get any stimulus. So we worked while we saw many people our age goofing off and seeing just how long they could ride the unemployment wave—yes, they really were proud of this. Meanwhile another half our peers want their college debt forgiven because they can't cut it in the real world with their liberal arts degree. Mark my words: if they ever do get around to slashing college debt, those who did what they were supposed to will be left there with their bill in hand while everyone else who made every ill-advised decision gets off for free.