us economy

[Golden fleece]

I kind of agree with this statement.. People should get back to work and all businesses should be re-opened.. Social distancing should remain in full effect. Older people isolated perhaps. People should keep their distance like they are doing now but get back to work. This is not a deadly disease for 99% of most people even if you get it.

Economy is everyone's life line. There is a point of no return perhaps if this continues. Some people and families wont be able to recover or even get their job back. Some businesses will close and never re-open again.. Etc.. You will have more suffering from economic disaster then the virus itself..

More suicides, more murder crimes, drug overdoses, etc.. We may see more deaths from this economic shut down rather then by the Corona virus out break in other words.

this is exactly where im coming from

i can see the "fallout" being way worse than the actual virus

[Roger T. Bannon]

Social distancing you can do within reason and keep businesses open. Can do business without getting in everyone's face and space.. Bars and restaurants people spacing too. Need to get creative.. Sending everyone home and shutting down the Economy for months I never thought was the right answer to this Corona Virus..

People working can be ordered to wear masks and gloves.. Etc..

There are not enough masks and gloves for nurses. Once you have to wear a mask, people are staying home. If you are a govt and you allow a big pandemic, you are going down.

[Roger T. Bannon]

this is exactly where im coming from

i can see the "fallout" being way worse than the actual virus

It will be fallout for you. Not for Trump and Bezos.

[53 defense]

Nice !

I'm wit you Jibby

[KVB]

ok lets ruin the next 24 months for average joe then. im in

There is going to be huge bailouts. If there isn't, there will be a revolution.

Great, along with the next 24 months, let's also ruin the next generation for the averge Joe as well.

#feeltheBernwithoutelectingBernie

[Golden fleece]

Great, along with the next 24 months, let's also ruin the next generation for the averge Joe as well.

#feeltheBernwithoutelectingBernie

i was bein sarcastic

said it tongue in cheek

this shit will linger for a long time

[jjgold]

Will be back to normal in three weeks

[KVB]

i was bein sarcastic

said it tongue in cheek

this shit will linger for a long time

I get it fleece, I'm certainly not criticizing you.

Except maybe for the Hillary quip about beating the virus...lol.

I think we're getting double screwed, with shutdowns being used to rationalize bailouts that are certain to lead to inflation rates going up. They keep doing this and our kids will pay $1000 for a loaf of bread.

Not to mention, consumer prices will go up after this, and they will never go back down.

It's a bad scene altogether, but having the Fed create money out of nothing so the Gov't can borrow it isn't going to help anything at this stage.

[Roger T. Bannon]

Great, along with the next 24 months, let's also ruin the next generation for the averge Joe as well.

#feeltheBernwithoutelectingBernie

The next generation is going to sit at home and get guaranteed income checks while the robots do all the work.

[Roger T. Bannon]

It's a bad scene altogether, but having the Fed create money out of nothing so the Gov't can borrow it isn't going to help anything at this stage.

Who is the government borrowing it from?

[KVB]

Who is the government borrowing it from?

It's unconstituional to print money, if you aren't stamping a coin.

So to get around it, the gov't allows the Fed to be a monopoly that prints money out of nothing and loans it to the gov't.

Along with bond sales that what comprises the national debt.

If we are playing monopoly, and we all start with a set amount of money, then prices are what they are. But if I go into the monopoly bank and give everyone more money, then when we auction the next property, it will be more expensive to buy as everyone has more money to bid.

The property didn't change, but the it got more expensive simply because everyone had more money.

The gov't borrows the money from the Fed to create dollars in the system, our future generations are the one's they borrowed it from and this system will not work.

This is the 4th, I believe, central bank that we've had on this continent.

The other 3 all went bankrupt.

Remember, the Federal Reserve Banking System is not Federal, and has no reserves.

It's just named that so people won't realize what has been and is really happening.

[GUMMO77]

My opinion is it's worse than we're being told.
If not why would the world tank all their economies and throw us into a massive extended depression?
Who would gain by that?

It's much worse.

I have a friend that is an ER Dr in Miami and he's says the numbers they are putting out are way, way low compared to what he is seeing.

[Roger T. Bannon]

The government does not borrow money. It makes the money. The Pharoah builds a pyramid. The Emperor goes to war. A president builds a battleship or bails out banks. They do not need permission because they make the money.

[KVB]

Why give everyone and the system 2 trillion dollars?

Why not just slash 2 trillion of the National Debt?

Because is we paid off the national debt, there would be no more money in the system.

Every dollar out there is created because the gov't borrowed it from the Fed. Reducing or paying that debt takes money out of the system.

It's a house of cards and it takes an epidemc of these proportions to really see just how precarious it is. Remember, the Fed's number one goal is to control inflation that they create.

In other words, the Fed's number one goal is to de value the dollar.

This current stimulus will do just that, again. This is socialism and our gov't is socialist.

But nobody seems to mind when it appears that they are saving us from catastrophe. This is history and it will repeat itself.

[asiagambler]

It's unconstituional to print money, if you aren't stamping a coin.

So to get around it, the gov't allows the Fed to be a monopoly that prints money out of nothing and loans it to the gov't.

Along with bond sales that what comprises the national debt.

If we are playing monopoly, and we all start with a set amount of money, then prices are what they are. But if I go into the monopoly bank and give everyone more money, then when we auction the next property, it will be more expensive to buy as everyone has more money to bid.

The property didn't change, but the it got more expensive simply because everyone had more money.

The gov't borrows the money from the Fed to create dollars in the system, our future generations are the one's they borrowed it from and this system will not work.

This is the 4th, I believe, central bank that we've had on this continent.

The other 3 all went bankrupt.

Remember, the Federal Reserve Banking System is not Federal, and has no reserves.

It's just named that so people won't realize what has been and is really happening.

[KVB]

The government does not borrow money. It makes the money. The Pharoah builds a pyramid. The Emperor goes to war. A president builds a battleship or bails out banks. They do not need permission because they make the money.

Not enough to run anything though. Borrowing is what the gov't does, that's why the Federal Reserve exists. We can't survive on what little taxes are taken in, it's all borrowing.

And when it can't be paid back, whether it's the US borrowing or another nation, then they restructure the loans and put it off for the next generation under threat of bankruptcy.

Nobody makes money, they print and borrow it. All money is created the moment it is lent, that's how it works.

[Roger T. Bannon]

Why give everyone and the system 2 trillion dollars?

Why not just slash 2 trillion of the National Debt?

Because is we paid off the national debt, there would be no more money in the system.

Every dollar out there is created because the gov't borrowed it from the Fed. Reducing or paying that debt takes money out of the system.

It's a house of cards and it takes an epidemc of these proportions to really see just how precarious it is. Remember, the Fed's number one goal is to control inflation that they create.

In other words, the Fed's number one goal is to de value the dollar.

This current stimulus will do just that, again. This is socialism and our gov't is socialist.

But nobody seems to mind when it appears that they are saving us from catastrophe. This is history and it will repeat itself.

No, there is no trillion dollars. Once you get to a trillion, you have jumped the shark. The con is up.

A government makes money. In your scenario, the government is bailing out rich people and borrowing from them at the same time. That is obviously impossible.

The Fed is part of the government. The government does not get money from the Fed. The Fed gets money from the government. The government does whatever the hell it wants. It mostly wants to give money to rich people.

[KVB]

No, there is no trillion dollars. Once you get to a trillion, you have jumped the shark. The con is up.

A government makes money. In your scenario, the government is bailing out rich people and borrowing from them at the same time. That is obviously impossible.

The Fed is part of the government. The government does not get money from the Fed. The Fed gets money from the government. The government does whatever the hell it wants. It mostly wants to give money to rich people.

This is wrong.

The Fed is central bank. We fought a revolutionary war to get out from under the nose of a central bank, only to start another one. And this is now our 4th because of reckless central bank activities.

The Fed is not gov't, it's the only bank who was granted a monopoly by the gov't to be the only bank that can lend to the gov't and set a lending rate for other banks.

I don't think you understand just how all this works.

[Roger T. Bannon]

This is wrong.

The Fed is central bank. We fought a revolutionary war to get out from under the nose of a central bank, only to start another one. And this is now our 4th because of reckless central bank activities.

The Fed is not gov't, it's the only bank who was granted a monopoly by the gov't to be the only bank that can lend to the gov't and set a lending rate for other banks.

I don't think you understand just how all this works.

You believe the line you are handed. There has never been a time when the US govt did not do whatever it wanted to do. A trillion here, a trillion there. Everybody said that they would run out of money because they do not understand how money works. The govt cannot run out of money.

That is why you have always thought interest rates would go sky high. You have been wrong and you are wrong now. Check the interest rates. Check them in 10 years. You are confused.

[KVB]

You believe the line you are handed. There has never been a time when the US govt did not do whatever it wanted to do. A trillion here, a trillion there. Everybody said that they would run out of money because they do not understand how money works. The govt cannot run out of money.

That is why you have always thought interest rates would go sky high. You have been wrong and you are wrong now. Check the interest rates. Check them in 10 years. You are confused.

None of this makes sense in our conversation. I am bitching about the gov't going around it's own rules to do whatever it wants.

I never said anything like that about interest rates, not at all.

So much for having a conversation.

You are confused guy, you don't know what the Fed is or does and clearly have no idea what I'm posting. It must be my fault, I must have confused you.

I am sorry. You need to catch up on how this works. Read my posts and go from there.

Outside of that, I can't help you.

[Roger T. Bannon]

None of this makes sense in our conversation. I am bitching about the gov't going around it's own rules to do whatever it wants.

I understand. You are confused by "rules." Some people are confused by the 'constitution.'

[cyclingbettor]

Will be back to normal in three weeks

I think jj is being a bit optimistic on that one. But, I do think the current level of shutdown won't go on for that long. I mean, remember, at this rate, most of California would be infected in 8 weeks. (And that's actually true, based on the math anyway). So, it's either going to slow down before then, or else it will slow down on it's own because it's running out of people.

Obviously, the preference is to slow it down before then. But, either way, the duration won't be as long as you might think. So, hang in there.

[jjgold]

We will be fine

China getting back to some normalcy

[KVB]

I want to add one more thing.

Of course the gov't can run out of money. Our gov't has several times over just the past few years.

They've even shutdown over it.

The reason is that there is a debt ceiling and without passing a law, they can't borrow more. Every budget gets debated over cutting spending vs. raising the debt ceiling.

The gov't operates on borrowed funds and continues to borrow yearly.

Most Americans don't understand how this came to be, and if you don't understand it you now have a good starting point.

It's up to you Bannon, if you want to learn.

[KVB]

I understand. You are confused by "rules." Some people are confused by the 'constitution.'

No, you clearly don't understand.

[asiagambler]

Very sobering to see how ill-equipped the entire world is in handling a pandemic

[asiagambler]

US is a debt based economy. 23 trillion dollars and counting

[Roger T. Bannon]

No, you clearly don't understand.

I understand very well. The govt just created 1 trillion dollars that they had said we could not afford. The Fed just tried to set a floor on the stock market. When you know how the world works, you know exactly what is going to happen.

[Golden fleece]

bitcoin is going to skyrocket the next 2 years

this is exactly why it was created in 09

it was to get away from the con game of the fed

im shocked the government has not banned it yet

[RudyRuetigger]

It will be fallout for you. Not for Trump and Bezos.

oh and I guess hillary and biden would work for the people

[asiagambler]

Probably because an actual ban isn't really feasible and would ultimately strengthen bitcoin

[RudyRuetigger]

bitcoin is going to skyrocket the next 2 years

this is exactly why it was created in 09

it was to get away from the con game of the fed

im shocked the government has not banned it yet

if everything goes to shit, bitcoin is not special

rather have land with ponds

[Golden fleece]

Probably because an actual ban isn't really feasible and would ultimately strengthen bitcoin

i agree but im sure they would at least use scare tactics to shoo a lot of birds away

[Golden fleece]

if everything goes to shit, bitcoin is not special

rather have land with ponds

from nothing to 6k in 10 years IS special buddy

[asiagambler]

i agree but im sure they would at least use scare tactics to shoo a lot of birds away

They've tried that. Now they're more like "If you can't beat em... join em"