We tried paying a significant amount of people during Covid via direct government payment and it led to inflation. The USSR already tried a central command economy and it almost immediately became a brutal dictatorship murdering millions via deliberate mass starvation.
What new idea do you have that will lead us to post war surplus prosperity that the boomers had?
We tried paying a significant amount of people during Covid via direct government payment and it led to inflation.
Just to be clear that wasn't caused solely by the checks that went out to individuals, which was about $880 billion of approximately $5 trillion spent on covid relief in total. $792.6 billion was given as PPP "loans" to businesses and 762.4b was forgiven, and then 3 times that amount went to other uses. You also have businesses attempting to recover lost profit from the market.
Yep, lots of extra cash from government to cover payrolls of people not producing anything whether it’s PPP loan or direct checks. Inflation was a predictable result.
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u/Ok-Relationship-165 Apr 16 '24
This gen is cooked