Government Spends Equivalent of Entire US Student Debt to Rally Stock Market for 15 Minutes
The money spent was equal to the total amount of US student debt, more than twice as much as the Wall Street bailout of 2008 and nearly 30 times the net worth of former New York mayor Michael Bloomberg, the richest man to ever run for president.
[In reality, the $1.5 trillion came from the same place as it always has: from thin air. The Fed simply added some numbers into a balance sheet and the money was created. Authorities could do the same to fight many of America’s most pressing social problems: homelessness, hunger, crumbling infrastructure, poverty, but to do so would be to use the power of the government to help the great mass of people, rather than those at the top]
Just like that money can be found to support mainly corporations. And just like that our cases doubled over night in Ohio. That type of money on socialized healthcare could have drastically reduced the effects under a genuine governance proper functioning.
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Feel free to reply to any comment by clicking the "Reply" button.Well each time such thin air money is created surely the value of the US$ decreases?
rogerbenham
Level 8
Mar 14, 2020
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It must. That's why the American dream is a sham. Everyone can't be rich or else the money wouldn't be worth what it was when it was more rare. That's why the system is the way it is. As George Carlin used to say, "The reason they call it the American Dream is because you have to be asleep to believe it."
@Piece2YourPuzzle But meanwhile our dollar always seems to sit at 75% value. I suppose ours is so low because we pretty well give our resources to you for nothing. We invite your corporations to mine our resources and then charge minimal royalties. 25 Cents a tree. Maybe 50 trees on a logging truck worth 3 to 5 grand arriving at your log mill, shipped on your trains down to your markets.
But are all western nations creating dream money.
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