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Here is the truth: a vaccine isn't going to fix the economy because people have burned through their savings. No matter how much money you pump into corporations, sales (not subsidies) determine whether they hire and fire. Individuals with cash will drive sales and hiring.
But we aren't doing that. We're doing trickle down economics, which has been completely debunked for reasons I just outlined. And now Americans have burned through their savings and have to pay a year of back rent soon.
Which isn't being forgiven. So the cash crunch will get even worse.
Economic activity is just how many times the same dollar is handed off to another person, and you achieve the most movement by handing it to the poorest people. But corporations want their handouts, so.
Economic activity is just how many times the same dollar is handed off to another person, and you achieve the most movement by handing it to the poorest people. But corporations want their handouts, so.
The reason why handing cash to the poorest people is the most stimulative is because there is shit they need to buy and debts they need to pay off, so money leaves their hands immediately. They repair a car, they get that dental work done, they visit grandma and buy snacks.
They spend money. Which means that snack seller hires more people, the dentist gets another hygienist, the mechanic pays its back bills and gets new tools.
Hand a money to a corporation, it saves it and waits for those sales. And that's IT.
Hand a money to a corporation, it saves it and waits for those sales. And that's IT.
Right now the plan is that half of Americans each come up with 17,000 in rent or mortgages a year after this is over, which means nobody will have any fucking cash to spend. Austerity is just gonna snowball that. They frankly need to forgive student loans to avoid a 2008 crash.
That is why they are considering that, by the way. To avoid another crisis like the 2008 mortgage crisis.
I'm just ranting now, but I find it extremely frustrating that if you did believe in capitalism, there is a way you fix this. Nobody's gonna do it because capitalists are cannibalizing even the stimulus. Capitalism is the utopian project that never works, not communism.
