Weimar America, Here We Come! Virus Hysteria Adds $10 Trillion to the National DebtMike Whitney • April 11, 2020
https://www.unz.com/mwhitney/weimar-america-here-we-come-virus-hysteria-adds-10-trillion-to-the-national-debt/
Have you looked over the $2.2 trillion CARES bill that Trump just signed into law a couple weeks ago? It’s pretty grim reading, so I’ll save you the effort. Here’s a rough breakdown:
$250 billion will go for the $1,200 checks that most of us will receive in a couple weeks. And $250 billion will be provided for extended unemployment insurance benefits.
That’s $500 billion.
Then the author discusses the additional amounts the Fed has earmarked to Wall Street firms with their securities that has no buyers. All enabled by QE, aka quantitative easing, aka printing money. The unusual times that we live in, Wall Street understands this process but Main Street is almost oblivious. There are suspicions, but they do not know what is going on. This is a problem, or a beauty, depending on your point of view.
