3 ms·
Right - this is my hangup too. Look what happened during COVID - 3 trillion dollars were printed. 200 Billion of which went directly to citizens, and the rema
by NickC25 4y ago
Right - this is my hangup too. Look what happened during COVID - 3 trillion dollars were printed. 200 Billion of which went directly to citizens, and the remaining 2.8 trillion were in the form of loans to massive corporations (who didn't need them) that somehow magically were forgiven.
I think just forgiving 2.8 trillion dollars in "loans" to people who didn't need loans in the first place causes a shit ton of inflation.
One side of the political aisle got so angry about that 200 billion to the point that they were only willing to go along with it if their party leader got to put his name on those checks. Yet the 2.8 trillion that went to already profitable corporations (or to fraudulent citizens) went along without a peep from anyone who makes any sort of decision in Washington DC.
All this completely fucked up the M2V (Monetary Velocity) chart, because giving lots of people who won't use it quickly really hurts the economy. When the velocity of money is high, the economy works for everyone, not just wealthy people.