“When the people find that they can vote themselves money that will herald the end of the republic.” ― Benjamin Franklin
Make no mistake, both the right and the left, the Republicans and the Democrats, the conservatives and the liberals-whatever your WWE title you give them-are agreeing to continue to violate the Constitution, engage in wealth redistribution, print phoney baloney monopoly money and send the US dollar into a nosedive with another unconstitutional, socialist-style COVID relief stimulus bill. This time, it will peak near $1 trillion… at least!
Tyler Durden has the story.
While neither Republican nor Democratic leadership has signed on to the plan, a $908 billion bipartisan proposal from moderates has been unveiled this morning.
Under the proposed compromise being pitched, Bloomberg reports, small businesses would get a roughly $300 billion infusion for a version of the Paycheck Protection Program of forgivable loans and other aid, and state and local governments would get about $240 billion, including money for schools, according to three people familiar with the proposal.
Another $180 billion would go to an extension of pandemic unemployment benefits, providing an additional $300-a-week for four months.
Transportation including airlines, airports, transit and Amtrak would get $45 billion in funding, a person familiar with the plan said. Vaccines, testing and tracing would get $16 billion and health care providers $35 billion.
The package would include a short-term moratorium on liability lawsuits related to Covid-19.
Backers of the new plan include Republican Senators Susan Collins, Lisa Murkowski, Mitt Romney and Bill Cassidy along with Democratic Senators Joe Manchin, Mark Warner, Jeanne Shaheen and independent Angus King.
Bear in mind that members of the bipartisan House Problem Solvers Caucus, which put forward a compromise during the fall that was rejected by Pelosi, also plan to endorse the new attempt.
The market’s reaction perhaps says it all as it rallied on hope that Mnuchin and Pelosi were set to meet at 1pm, and then tumbled back as the “only” $908 billion package details were leaked…
Let’s get one thing straight here: markets are in a dream world. They are an increasing bubble that defies all reality, just like those paper fiat notes in your wallet. Eventually, that bubble is going to burst and the illusion of a “roaring economy” is going to come crashing down around our ears.
If you don’t believe me, check out the film The Big Short to see just what the housing market did a little over a decade ago. This time, it will encompass everything, not just the housing market.
Still, politicians are willing to sell you out with your own money and the future of your children and their children’s children in order to prop up this house of cards and keep people dependent upon the government just a little longer due to their own unlawful actions regarding an alleged virus that has really yet to be proven.
It’s time the people enforced the law against them, not held out their hands for the last crumbs of bread from a moldy loaf.
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