The Senate’s $2 Trillion Coronavirus Relief Package is not fiscal stimulus and it’s not a lifeline for the tens of millions of working people who have suddenly lost their jobs. It’s a fundamental restructuring of the US economy designed to strengthen the grip of the corrupt corporate-banking oligarchy while creating a permanent underclass that will be forced to work for slave wages. This isn’t stimulus, it’s shock therapy.More disaster capitalism?
Thursday, March 26, 2020
The Senate's Coronavirus Relief Package Must be Stopped! — Mike Whitney
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6 comments:
"which means that the Fed will use the $450 billion to borrow tens times more than the original amount or $4.5 trillion"
another left wing know nothing loser...
" So why did the Fed need to link-up with the Treasury for this operation?
Because the Fed is unwilling to accept the credit risk. Who will ultimately be accountable for all the bad bets and worthless bonds that are being downgraded as we speak? Who is going to mop up the trillions in red ink created by crooked, scheming, cutthroat corporations (and their financial counter-party accomplices) who plundered their companies for the sole objective of enriching themselves and their shareholders?
Who?
The US Treasury backed by the American taxpayer."
But the Treasury is only guarantying the first $425 of loss.... he just said that...
So how can "taxpayer on the hook!" for "trillions!" when he just says they are guarantying only 425B????
Left wing loser Art Degree moron cannot do math and basic logic...
He says right here:
"Republican senators have suggested creating a fund of $425 billion at the Treasury Department that the Fed could use to back emergency lending facilities — which would enable such programs to grow far beyond that scale.
Because the Fed cannot take on substantial credit risk itself, the Treasury Department backs its emergency lending,"
Theyve only backed the 425 he says RIGHT HERE...
then he says their backing "trillions!"....
Whaaaaaaatttttttt??????
How stupid is this guy!!!
More evidence that the sole purpose of the Magic Money Tree fiat funny money system was to shift wealth to the .1% in a manner that the average Eloi can't follow.
Further, while the Magic Money Tree system has the benefit to the .1% of not actually being "capitalism", it has enough similar characteristics so that its natural looting and crashing function can be blamed on "capitalism" which then allegedly requires another round of wealth shifting to the .1%.
The Eloi had it pretty good... until "air raid" time.
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