If the economic slow down continues due to Trump's slow/poor response, we'll be out of work and on leave. Problem solved.
See this hour long bump? It’s a response to $500,000,000,000 from the Fed. That money would get us more than 25 years of generous paid leave policies. https://www.dol.gov/sites/dolgov/files/OASP/legacy/files/IMPAQ-Paid-Sick-Days-1.pdf …https://twitter.com/ScreamATTT/status/1238161370308325377 …
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so, the fed pumped the money in, but that's supposed to be paid back with negligible interest, not be kept by the banks, right? I know we want to compare that to spending money, but we have to explain MMT to people first for that to make sense to them.
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You're right. It's not just money placed in the hands of the rich. It's asset swaps (even swaps for treasuries) which remain in the banking reserve system (BRS). The BRS is the underground plumbing of our financial system. its money (the reserves) never enters the real economy.
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Thanks for actually typing out the number 500,000,000,000 it's far more alarming than $500B
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I had trouble counting the zeros. Thank you!
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$1500 per person in the US
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And then it just went down. All that money went away... Into the pockets of whomever was able to game by buying low and selling it when it bumped. That easy.
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