1. Some pundits have been puzzled by the fact Republicans are already embracing austerity, an odd choice before an election when they should be trying to juice up the economy. One answer is that they've already won the big stimulus fight: unlimited funds for Wall Street.
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4. In 2008, the Washington elite decide the big banks were "too big to fail." Now it turns out Wall Street as a whole is too big to fail. The Federal government is now the silent partner of big business: a silent partner that makes no demands on management.
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5. Some further thoughts on the larger shape of the new economy: unlimited looting by Wall Street and austerity for the working class:https://www.thenation.com/article/economy/bipartisan-cares-act-unemployment/ …
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6. A correction: the $7 trillion was used more broadly for treasuries and mortgage backed securities:https://twitter.com/vtg2/status/1290323741168349185 …
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where in the world are you getting $7 trillion from? Are you just adding up the Fed's balance sheet? That would not make sense. This was the emergency facility usage as of July 1.pic.twitter.com/zPszC2nOL7
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$7 trillion?
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LOL Jeet, the pseudo everything, is called out by someone who actually knowshttps://twitter.com/R_Perli/status/1290327591388422145 …
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