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The majority of the covid money went to the Paycheck protection act and the terms where so opaque that the rich got a lot richer. The peanuts handed out in dir
by sjg007 5y ago
The majority of the covid money went to the Paycheck protection act and the terms where so opaque that the rich got a lot richer. The peanuts handed out in direct relief was and is a non-issue except that supply chains shut down because of lock downs and reduced demand. After lock downs the economy has rebounded so now we have many dollars looking for products but the supply chains can't keep up.
- somethoughts 5y agoMy back of the envelope thought is that both stimulus checks and Paycheck Protection checks went to stuff that is much more closely tracked by CPI. Its mostly rich small business owners that are getting PP checks and using it to build out outdoor dining/service areas of their business and perhaps the occasional personal home remodeling projects or staycation homes which drives purchases of house hold appliances, etc. Perhaps some bitcoin and GME stock as well. Financial Crisis bailouts went to big corps who bought out over-leveraged competitors, questionable startups (Uber, WeWork - basically anything Softbank related), etc. which aren't tracked by CPI measures.