Krystal Ball: How $2k Checks OBLITERATED Zombie Reaganism

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    • #394892
      leftcoast mountains
      • Total Posts: 5,523
    • #394900
      • Total Posts: 1,338

      And maybe members of congress are worried about their homes looking like Pelosi and Mitch’s.

      They never did find out who wrote the grafitti, did they?

    • #395042
      • Total Posts: 1,154

      The problem is that the Fed’s been flowing geysers of cash into Wall St., while Congressional actions and inaction have been steadily strangling Main St.   $2k checks would even things up a little bit, and are likely to do more for the real economy than the trillions pumped into Wall St.; but both are expenses that must eventually be paid on way or another.

      Destruction is easy; creation is hard, but more interesting.

      • #395137
        Bernie Boomer
        • Total Posts: 382

        way like a household budget.
        Households – and states – do not possess the ability to create their own sovereign, fiat currency.
        Read Stephanie Kelton’s (economics, Stony Brook) “The Deficit Myth.” It is the most accessible book on economics I have ever read. Or, if you are more of an economist, dig into Bill Mitchell (economics, U of NSW), Warren Mosler (economics, U of MOKC), and/or Randall Wray (economics, Bard)  Modern Monetary Theory is not pie-in-the-sky and it’s really not a theory. It is an explanation of how currency – and the spending that goes along with it – operates in a system like ours (and Japan and China and other nations that also have sovereign, fiat currencies). Even the most conservative economists don’t disagree with the basic set of facts, because they are that. Facts. The arguments surround not “can we do it” but “should we do it” – political calculations, not economic ones.

    • #395044
      • Total Posts: 4,358

      But I think it’s going to take more than a single round of checks – or probably even more than a continuing round of checks for the duration of the pandemic, should that ever happen – to put an end to 40 years of systematic economic destruction.

      If corporations had people in charge that had any mental gears besides 666% pure greed, they would realize, first of all, that they sell more shit to people who actually HAVE money to spend. And then, eventually they might realize that (as it is in most other countries) if they didn’t have to waste time & money with corporate health insurance policies, their corporate “health” would eventually improve. And the corporations who are too cheap & greedy to actually provide health insurance for their employees, even they would benefit, because in a Medicare for All system, their employees wouldn’t have to come to work sick. (Which obviously is not something anybody wants to see in a global pandemic)

      So yeah Krystal….. this COULD be the beginning of the end of Zombie Reaganism. But I wouldn’t bet your soul on it, just yet…

      "Those who make peaceful revolution impossible will make violent revolution inevitable". - John F. Kennedy

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