The American Response To COVID-19

[Juxtapose]

Is to reject a proposal by the Democratic Party to actually help people and instead inject 1.5 trillion into Wall Street.

Fucking.. disgusting.

Reference: https://www.google.com/amp/s/www.commondreams.org/news/2020/03/12/gop-rejects-economic-relief-working-people-feds-15-trillion-stock-market-injection%3famp

Hours after Republican leaders in Congress derided a Democratic proposal to provide healthcare and economic relief to Americans affected by the coronavirus pandemic as a burdensome "ideological wish list," the Federal Reserve moved to inject $1.5 trillion into the bond market to keep the financial system stable.

The federal government, however, has yet to step in to provide assistance and peace of mind to the millions of working Americans who have no paid sick leave, those who are uninsured and have no way of paying for testing and treatment for the coronavirus, and nearly half a million children whose schools have closed as a precautionary measure.

Earlier on Thursday, House Democrats introduced a bill to provide all working Americans with 14 days of emergency paid sick leave, increase Medicaid funding, and free coronavirus testing.

Nothing is being done!

[tartaarsaus]

This is the Federal Reserve injecting 1.5 trillion into ensuring the financial system does not suffer a tremendous crisis. The 1.5 trillion is to keep the market for Treasury bonds flowing nicely.

Banks have costs, sometimes - especially during extraordinary times - they do not have the money to pay for this. They usually go to another bank and borrow it there, but all assets banks own right now are losing value so quickly, they will swap their one safe investment - Treasury bonds - for liquidity with the Central Bank. It keeps banks nice and liquid so they can actually pay bills, they can provide liquidity to firms and those firms can then pay their bills.

It costs the American taxpayer exactly nothing at all, it costs the US government nothing, it will only cost the companies a little bit.

It is not about “helping Wall street” either. The Bernie supporters who think it is comparable to enroching the rich and a kick in the face for them is just economically illiterate

[tartaarsaus]

In other words, this is the Federal Reserve trying to prevent an even deeper recession with structural problems, instead of a singular shock like corona.

[Juxtapose]

Come on. You know when it comes down to it, American politicians are going to help the rich and tell the poor to go fuck themselves.

What is the US government doing for the common man right now? Why are we the only civilized country with such a shit healthcare system that isn't single payer? Etc.

[tartaarsaus]

The FED is not American politicians nor the US government.

[Juxtapose]

They're all the federal government. Where is the help towards the common man? What are the feds doing for us right now, in a country where a lot of people don't even get paid sick leave?

Helping the banks at virtually no cost is fine, but it's fucked up that they are helped so expediently by the federal government while the average American is left high and dry.

[tartaarsaus]

The Fed is not the federal government and only has a pretty limited, indirect mandate.

Fiscal policy to help this is related to Congress and the federal government, so it is just silly to blame the Fed for anything like that

[Juxtapose]

Dude, I'm saying the government as a whole is broken in terms of its priorities. The citizen should come first, period.

You did make a good point on the money being well-spent though.

[tartaarsaus]

Oh for sure the federal government should do more

[Juxtapose]

Cool, we're pretty much see this on the same page and I learned something about economics that I didn't know before. That's how the open market place of ideas should work, at least pertaining to a willingness to correct false information.

[Juxtapose]

*we're pretty much on the same page

[RolandCuthbert]

Anyone note that South Korea discovered its first cases around the same time "we" did. Yet they didn't have to shutdown their entire economy. They didn't experience layoffs and school closings, etc.

BECAUSE THEY TESTED EXTENSIVELY AND FOUND OUT WHERE THE VIRUS WAS IN THEIR COUNTRY.

We don't do the logical scientific thing anymore. We are just as backwards as the middle ages.

[Juxtapose]

The current Administration handled this absolutely horrendously. This is Trump's first domestic disaster and look how he squandered his chance to prove himself.

[KrakenAttackin]

Basically you are correct. One advantage SK had is a very homogenous society, which makes nationwide issues easier to tackle. The U. S., fuck, we are so divided, obsessed with race and class, politicians obsessed with power, our shortcoming will cost thousands of Americans their lives.

[RolandCuthbert]

@KrakenAttackin That does not explain how politics keeps you from following basic common sense,. How did politics get weaponized against science, expertise, and fact?

[KrakenAttackin]

Agreed, but here we are. Political Correctness is a verbal/social, even legal weaponization against facts and reason.

[RolandCuthbert]

@KrakenAttackin I don't think your definition of political correctness works in American society. Believing in the word of a politician over a subject matter expert is not the definition of PC. The term itself is not an objective one. It is actually a tool for politicians.

[Juxtapose]

Nah man, political correctness and the censorship that results from it is absolutely a thing.

Cancel culture and social justice can go die.

[KrakenAttackin]

Actually it is. Look at race in the U. S.

[RolandCuthbert]

I am going to attempt to ask the question again.

Why would you believe Trump over a subject matter expert on viruses?

Is it because of "cancel culture"? Is it because of social justice warriors?

And isn't that insane if you do?

[RolandCuthbert]

@KrakenAttackin Not certain who you were responding to. I just answered the other gentleman.

[DeeDeeDeVour]

Unfortunately, I have a bad feeling that there are more mistakes to come.

[Kiran_Yagami]

The Democrat proposal is packed full of useless crap that has nothing to do with the virus or relieving its effect on the economy or Americans. It's all progressive wet dreams. They're using it as an opportunity to hold American lives hostage to push their political agendas.

[Juxtapose]

Welcome to politics. It's called "pork". Almost every bill has it and the right wing does the saaaaame shit.

[KrakenAttackin]

You have to be a Joe Biden BOT. The idiot liberals were trying to push "environmental" standards, while people are DYING.

[Juxtapose]

Nope. I hate the democrats too but nice ASSumption.

[loveslongnails]

Welcome to corporate America. Next, please.