This Week in the World Affairs Brief
THE SIX TRILLION DOLLAR COVID-19 BAILOUT
The $2T bailout package being passed by Congress has a lot political pork hidden inside, but, its greatest evil is in its inducement for millions take “free” money from the government and feel like they deserve it. But the real bailout is not just the whopping $2 trillion but $6 trillion because of an additional $4 trillion earmarked for the largest Wall Street banks—the same banks who just happen to be the secret owners of the FED. There has been zero talk about where this $6T is going to come from—certainly not from any budget. To put this in perspective US total trade in 2018 amounted to $4.2 trillion. These incredible amounts were dismissed by FED Chairman Jerome Powell who said, “We’re not going to run out of (financial) ammunition”—and that is because it is money created out of thin air. There is no limit to what the FED is willing to dump into the economy to keep it afloat, but it will have consequences. The last time the government gave everyone a bailout check during the 2008 mortgage crisis, we suffered the highest rate of inflation in the months that followed—because the checks amounted to extra money for everyone, and it was immediately spent and put into general circulation. That may not happen this time, because the payments to the public won’t even come close to covering for the financial losses including the income lost from all these unnecessary closure orders. Unemployment claims are skyrocketing and the US economy is imploding fast—and quite unnecessarily, despite the hype about how dangerous this virus is. To receive a one-time free sample copy of the brief, email us at editor at worldaffairsbrief.com
Also:
- How a National Shutdown Facilitates a Loss of Liberty
- More Evidence that COVID-19 is Not Deadly to Normal People
- Preparedness Tip: Horseradish for Health