"The Ripple-Effects Of The Government Lockdown Are Only Starting To Take Shape..."

Posted by freedomforall 2 months, 2 weeks ago to Economics
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"I think the best way to look at it is to see that $6 trillion of new debt in two years is equivalent to what it took 213 years and 43 presidents to produce—that’s how long it took to get to the first $6 trillion of public debt.

That’s how bad this has gotten, and it will destroy any remaining semblance of market capitalism we have in this country.

When you have a coast-to-coast soup line, with the government underwriting 100% of what everybody was getting in January 2020 by merely piling it onto the public debt, and then having the Fed printing money to fund it, you’re asking for a calamity—a financial and economic disaster of biblical proportions."
SOURCE URL: https://www.zerohedge.com/health/ripple-effects-government-lockdown-are-only-starting-take-shape

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  • Posted by Stormi 2 months, 2 weeks ago
    I worry when I hear media and people talking about "new normal.: No that si not how to think, we have overcome horrible viruses in the past, and come back, so it will be with us, not gone, I accept that, no get out of my life, gov.! SARS never did get a vaccine, and we survived. I had Asian Flu 1957, and H1N1. Unpleasant, sick as a dog, but moved on. Sometime, the cure, or the vaccine is worse than the disease. Maybe they should tell people to take vitamins, keep BMI under 30, and get out in the sun and fresh air, not put on maskds,not take horrible vaccines. I have shopped normally and regularly, been out in the yard, did social distance, but no masks, and I am in the supposed weak link age group. I am not going to be a captive, I heave my cell home, so Google even has no idea whare I am, no OnStar. Off the grid!
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  • Posted by Mamaemma 2 months, 2 weeks ago
    Hear, hear! I’ve known this all along, and I would bet that most Gulchers did, too. It’s called using your brain, what we have done is SO stupid. Unless your goal is to destroy the economy and Trump.
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  • Posted by Ben_C 2 months, 2 weeks ago
    I sense there is a significant group of people that will not accept the "new normal." The protesters in Michigan are making the case that the central issue is freedom - not some virus. As ICU's close down (the U of M Hospital in Ann Arbor is closing down two units as of today for lack of cases) and the truth slowly but surely comes to the light of day I suspect the "average" citizens will become appalled at how they were manipulated "for the greater good." And when their taxes sky rocket and quality of life crashes as in Venezuela the outcry will be deafening. My worry is that it may get really ugly before it gets better.
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  • Posted by $ allosaur 2 months, 2 weeks ago
    Guess what, y'all! The US Debt Clock comes with pretty colors now.
    Woo, so pretty! So aesthetically pleasing to the eye!
    Reminds me of Christmas! Let's sing!
    Jingle bells! Jingle bells! Jingle all the way!
    Me dino's out cruisin' in grandma's Chevrolet! Yay!
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  • Posted by Lucky 2 months, 2 weeks ago
    Pharoah had a dream, seven fat cattle, followed by seven lean cattle.
    Joseph told him he would get seven good years in which to store grain then seven bad years with low grain production.

    Nations round the globe are spending money they do not have. From savings? No.
    Exception, Singapore, they are spending big money, it is the fashion and hard to resist, but they have big reserves to call on. There are not many in that group.

    I understand that massive debt is ok, you have simply lent it to yourself (it is said). So, governments can spend without limit, taxation not required. I will with-hold judgement on this one.
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  • Posted by Owlsrayne 2 months, 2 weeks ago
    the Democrat Governors and Mayors have shown their true colors during this pandemic shut down. Their abuse of power is totally unwarranted. Where I live in Az the City Council takes its direction from the governors office. A handful have limited started up again who are are on the brink of failing. But the worst offenders a the day trippers from Phoenix but many are from out of state. This weekend was the worst with their car block roadways because the Park Service has closed many hiking and open areas. They were mingling in large crowds and hiking into closed down areas making it difficult for the local police and Rangers to disperse them. It also scaring the retired folks here because it could spike an increase in Covid19. The out of towners are from California, Washington and Nevada (license plate viewing), they think Az has less restrictions which is not the case.
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    • Posted by $ Flootus5 2 months, 2 weeks ago
      Although not being impressed with some Republican Governors (Ohio comes to mind), the behavior of the Dem Governors and Mayors show them to be the worst control freak sociopaths of the highest order.

      I live in Nevada, but in the far northeast corner of the State hours away from any major cities and with very little but good clean open desert in between. Elko County is the 4th largest county in the US by area and with very people. Traditional mining and ranching country. But we are subject to the horrible demographics of Las Vegas and the Reno-Carson City area. And because of that Nevada got horrendously blue waved in 2018 with some of the worst actors in the executive and legislative branches. Governor Sisolak (D) dutifully obeyed the stand down at least until May 1st. Now he is floating balloons such as extending it through June.

      Go for it you maniac! There have already been demonstrations against lock down in Carson City, Las Vegas, and here in Elko. I talk with some in Vegas. It is insane. 90 degree weather is already hitting the lower deserts. But picture no lit up strip in downtown Vegas. Vegas was the town that never sleeps, never closes down. The sound of all those one arm bandits for us in Nevada was the sound of no need for State income taxes. Ah, but guess what? Sisolak and the Dems want to impose an income tax. So far, they are still calling mining an essential industry. Nevada is the 5th largest gold producer in the world as a political entity. A max 5% royalty on net proceeds on mining was written into the Nevada constitution upon Statehood in 1864. Guess who wants to change that? The looters.

      I am sure the greenies love all this. Kill the fracking and energy industry, kill the airlines - no more contrails, right? Push universal healthcare in the face of an engineered panicdemic. UBI has a jumpstart with the "Paycheck Protection Program". Vegas has many greenies. Just imagine how they'll love it when the water stops flowing and the air conditioners quit when it is 110 degrees in June?

      Good Luck, Gov Sisolak.
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    • Posted by UncleAlbert 2 months, 2 weeks ago
      Californicators and those from Washington State who have drunk from the same well or Kool-Aid batch...
      My Dad lived in San Diego and chuckled at the people who despised the "Zonies" and their yearly migration to San Diego...
      Not sure about the Nevadans who you witnessed...Oh, well...just my 2 pennies...later
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  • Posted by $ FredTheViking 2 months, 2 weeks ago
    I wonder if anyone has been able to explain how come QE was successful. Of course, I use the term successful loosely but no disastrous consequences as of yet. Inflation was going at its usual rate and the extra credit was supported by the economy. The funny thing is the government seem to figure out how to literally borrow from itself. The federal reserve actually made a profit from the interest on the bonds and home loans. Also, I refer to the fact the federal reserve is still the US biggest creditor, which you would think impossible, but there you have it.

    The question I have is what would prevent this scheme from being successful in the future. Why would it break now or in 6 months, when so far it hasn't?
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