The money that’s getting thrown around is astounding.
The Wuhan virus is turning out to be a financial panacea for horribly run Blue states and cities. A remedy. A cure all. Federal money (our money) to bailout the indiscretions of poorly run or corrupt cities and states? Yes, it’s beginning to look like it…
The Wall Street Journal reports this morning that California is the first state to receive federal dollars (up to 10 BILLION). Oh wait, ahemm… it’s a “loan”. Yeah right. Okay sure. They’ll pay it back.
And how about this… Illinois, arguably the most corrupt financially bankrupt state in the country (can you say, “Chicago”?) is in on it too. “The U.S. government also has approved loans of up to $12.6 billion for Illinois”
It doesn’t stop there. Connecticut is in for a cool 1.1 BILLION.
Oh, and this money will be used to pay for “unemployment” (where’s the oversight?)
Helicopter Money
But wait, that’s not all… evidently there’s more money about to be helicoptered.
The federal government is working on a second “stimulus” of which it remains to be seen how much more money will go to State bailouts, more checks to the locked-down people, and God knows whoever else gets in on the action…
Listen. This stuff gets my blood boiling. They shut us all down (rather than selective regional targeting). They lock us in our homes. Order our businesses closed. Parks closed. The outdoors is apparently closed in some states! It’s all across the board. THEN, these corrupt political-bureaucratic governmental bodies put their hand out to the federal government to bail them out after having shot themselves in the foot? What a bunch of morons. And we let them control our lives?
What a sweet opportunity it’s going to be for the especially blue-operated States and cities to potentially bailout their pensions and other such decades-long overspending under the guise of Wuhan virus stimulus monies. And the sheeple will just shut-up and take their medicine.
I continue to be beyond amazed at the extent to which we can spend BILLIONS and TRILLIONS in the blink of an eye – with no apparent repercussions. What’s our national debt now? WHO CARES! It’s all a big joke.
I WANT MY FAIR SHARE!
Please, Uncle Sam, please send us each a check for a MILLION DOLLARS would ya? Come on man… gimme some! I WANT MY FAIR SHARE!!
End of Rant.
Where is the oversight, you ask? The House has appointed a committee to oversee uh Trump’s spending.
Should be overseeing the states’ spending or investigating why Cuomo made nursing homes accept COVID patients, or investigating WHO, or investigating China’s role in this mess, but it’s much more important to investigate the President of the United States.
Now you’re getting it! (sarc)
I can only begin to imagine where all this money ends up while State politicians get their dirty little hands on it.
Ken, as always your spot on. You ever think about running for president ?
I’ll need lots-a campaign contributions! š
We’ll sell NRPs TP supply! LOTS of money lol!!
DJ5280
What?! Trade that valuable TP for worthless paper? LOL
Haha! You are right about valuable TP and worthless paper!
Ken,
Well said!
I figure you could get a good start right here on MSB, lolš
I follow the U.S. National Debt Clock. For the month of April 1,2020 to April 30,2020 the Federal government has spent $1,198,000,000,000.00 using the U.S. national debt and $12,080,000,000,000.00 using unfunded liabilities. That’s $13 Trillion 278 Billion dollars in one month. We as American citizens are held accountable for this debt!
Left Coast,
Right, we are responsible. BUT when you are living paycheck to paycheck and can only afford the essentials, we will see what gets paid and what doesn’t…
Jabba
Next they will TAX the air we breathe!
If they can tax cow farts, why not the other direction?
Or……, This is all electronic money, right? One EMP and bbzzzzzzzt! Debt all gone. No record. Gonna be like cryptocurrency. Gone.
Some time,some day,some one will be held accountable for the financial stupidity that has been going on in our country for quite some time. The political class spends it and the citizenry does nothing about it . It cannot sustain .
I believe at some point in time there will be a wake up call such as we have never experienced before and things will be beyond unpleasant for everyone, except those in control. I do not think money matters can be repaired. Our make believe money system is a farce. Keeping the citizens occupied with a distraction of some sort while the smoke and mirrors charade rolls on.
How much does a dozen eggs cost in Venezuela? Coming soon to a store near you.
This spending spree is not just a U.S. phenomena, it is currently being replicated world-wide.
Could it be that there is no expectation of an economic recovery? What’s that old saying? Eat, drink, and be merry…ā¦…for tomorrow we die?
Just kidding. Nothing to be seen here folks. Everything is being handled by folks who are smarter than us…ā¦ā¦ā¦..
Maybe that’s the reason behind the booming sales of…ā¦ā¦…oh, wait, that’s another thread…ā¦.
If you want to call it āourā money thatās alright.It doesnāt belong to any of us and hasnāt for a long time.It rolls off the presses and we are told that it
has value and is worth something and we have always believed that to be true.
No Fiat currency has ever survived the test of time and I think that our clock is about to run out.It is impossible keep printing worthless paper
without causing hyper inflation.
When people can no longer find or afford the necessities of life itās hard to imagine what will happen.
The coming monetary reset will be a long and painful process and itās
difficult to know what the world will look like in the future.
The Blame Game is real popular and we all have seat at the table.
This is IMHO (supposedly) a controlled – and I think global – economic collapse. There will be no going back now. Get yourselves as ready as possible with at least the most basic of preps. TONS of articles here on MSB: Water. Food. Shelter and heat. Tools. Seeds and gardening. Shoes, socks, clothing for the future – for everyone. SECURITY.
Can you think of a better way to reset everything, everything! without war? I can’t. And I wouldn’t rule out a war, or regional conflict either.
I think its all coming…….
I agree with DJ5280,
TPTB know exactly what they are doing. A prosperous and content population has no incentive to change. However, a population that is hungry, broke and has lost nearly everything will quickly cling to anything or anyone that promises to return things back to the good times they remember.
The promise of āfree money, rent, housing and foodā appeals to a very large part of the population because they have a very low IQ and are unable to comprehend basic economics. They are ignorant, lazy and they have been cultivated by the democrats for 50 years and this crop of weeds is taking over the garden.
One of the positive things that may come from a complete economic collapse (the government can no longer provide any form of handouts) is a very large percentage of the weeds would be pulled from the garden allowing the fruits and vegetable to prosper again before the garden becomes overgrown.
Romeo Charlie, I strongly believe this because “they” have been unsuccessful in disarming the American people. They have failed to take our guns away, so….hence, the controlled economic collapse. Make us fearful, and staying at home (no rioting, is there? Besides, what happened to all the protests around the world, hm?). Just a few ‘shortages’ to worry us. Egads.
Be the grey man. Always. It’s time.
Without oversight, which appears to be lacking, there’s no way to know where that money’s going. My guess? Just like the supposedly PPP program to help small businesses, most of which ended up in the hands of banks and well-connected big boys, this state bailout money will end up in the hands of players.
This, more than anything, tells me time’s almost up. It’s a last call of sorts for the players to convert cash to hard assets, settle up between themselves and get themselves well-situated for the crash and re-set that’s at the door.
But I’m just a dumb peon, so what do I know?
Hell no!
Even our little state,
With the most gov workers per capita
Was as of 2016 somewhere around -2,000,000,000 in the hole on the state retirement and healthcare fund, our county in the 180,000,000 range.
They will eventually stick their grubby fingers in everyones pockets.
Before I get back to work, I just had to share this:
From Scott Stringer, NYC Comptroller –
“Weāre facing the deepest recession since the Great Depression, marked by historic and rapid job losses,ā Stringer said in a statement. āIn a crisis this severe, the federal government must step up and deliver relief to New York – the economic engine for the nation.”
I know there are small businesses everywhere, and they are vital, but I don’t think that’s what he really means. The economic engine for the nation?! Yes, I know, financial stuff and all that. But what do they make? Big food production coming out of NYC? Not the state, the city. Energy production of any magnitude? If our economic engine runs on financial ponzi schemes, maybe.
An economic engine running on financial gambling shenanigans is bound to fail. As a friend of mine often says, “Play stupid games, win stupid prizes.”
(My version of a rant; I’m a typically mild-mannered person. And no offense meant to any of you engaged in meaningful work, or just trying to earn a living in NYC.)
Well said, Farmgirl. My thoughts exactly, though I could never express them so well.
I believe that our Oregon governor is also saying that the state needs the feds to basically bail out the state due to huge budget shortfalls. Hows about cutting back just like the rest of us???
So its bail out the states that have been financially spend thrift and in effect punish those that have made the hard decisions to cut spending. My state (not wealthy at all) cut and cut and cut. Now It is operating, or was before this down turn, more or less in a balanced budget with state pensions etc paid for and a modest rainy day fund.
It is enough to make your blood boil that the states (the tax paying citizens of the states really) that have made an effort to be responsible stewards for their people are being asked to bail out those that just kept spending like there is no tomorrow! This is a real gimme dat moment for sure.
This could, maybe should, be the real straw that breaks the camels back!!!!!
No bailout for states!!!
Stock up on hard assets and preps now while that green stuff is actually worth something
From 1913 to 2017 thatās exactly what was going on, but few noticed. The State And Local Taxes deduction from federal income tax was just that – a bailout for the spendthrift states. States could increase expenditures on frivolous projects, raid pension plans, fund total support for illegals, and know all they had to do was raise taxes on the rich, who would then take a greater SALT deduction. Hidden payment transfer from rest of the country to places like NY, IL, CA, etc. And thatās why all the socialists who tried for the Dem nomination could promise the moon; overtaxing the rich has always worked at the state level.
However, when DJT capped the SALT at $10,000, everything changed. The smart wealthy (engines of capitalism) are fleeing those states. State and local budgets are exploding. Itās a forced lesson that the nanny state is inherently unsustainable; something the libsiders donāt want reinforced, especially in an election year.
So no. PPE, help with unemployment, all good things. Bailing out corrupt politicians and failed programs, however well-intentioned, absolutely not.
No bailout for states! Has anyone noticed the ones looking for help are all Dem controlled?
How about this, stop giving your taxpayers money to illegals and live within your means, that is what you tell us to do, isn’t it? Well, your time has come, that commie DeBlasio saying that NYFC can’t open without billions in Federal funds(not a state, I know, but for the purposes of this discussion, larger than most of the other 49),blow it out your ass. No bailouts for states(or major metropolises) that couldn’t manage themselves before this.
Nice rant, Ken! And true!!!
And this deal of calling bail-outs loans is just words, except when it comes to all of us individual taxpayers. None of us will just have our debt forgiven; none of us can set up a printing press at home and print our way out of our overspending habits.
Municipalities from small towns to entire nations invest in bonds (becoming debt holders) even as they issue more debt themselves. Canāt pay off the debt, no problem – either issue new debt to cover the old (plus some extra for whatever) or in the case of national debt – just print more currency.
Itās totally and completely out of control. Itās being done around the globe as different countries both issue and buy the debt of others… a con game funded by our tax dollars. Global shall game.
No, states should not be able to get out of their financial troubles through federal bailouts. But, itās an election year, and we know what that means. Plus, we have a congress led by tax and spenders who will hold up future legislation if their home states and pet causes donāt get a cut of the newly minted cash, or newly issued debt proceeds.
Completely out of control.
Heard our Ex-Governor, now Senator Rick Scott on the radio today. He and Cuomo were elected as Governors the same year. While Florida decreased our deficit each year Scott was in office, New York increased theirs . So I ask you, WHY SHOULD THE PEOPLE OF FLORIDA PAY FOR THE OVER SPENDING OF SOME SANCUARY STATE 1,500 MILES AWAY?
Do they come to our aid when we have a hurricane?
The NY lyin scum media actually scoff at us crackers then blame us for global warming and building homes in Hurricane zones… We be stupid and un-edumacated
Let those f’s die in their filthy virus ridden urban shities. oh I meant to type cities…
They can suck it, and declare bankruptcy like normal american businesses. Then restructure the way they operate and stream line their states budget.
The problem is there will be no streaming things if they declare bankruptcy. Those states are and will continue to be run by socialist Dems. They will come out of bankruptcy thinking they will have a new line of credit. And it will be back to the same game.
Since it’s all made up money anyway and we need to keep Democrats out of office, Congress should issue a set dollar amount per citizen to each state and require an infographic (visual depiction) showing how the money was spent or designated to be spent within a set number of days but before the election. That way the blue states can’t whine they didn’t get any additional funding and their snipes about how they were “owed” more than other states will show their pettiness. (Plus their probable whining about not getting money for illegals.) Additionally the infographic will show the voters the priorities of their legislators in a simple way that may or may not swing votes to the side of fiscal conservatism. But at least voters will have the information available in a format that should be free of obfuscation.
I live in Illannoy due to my family being here, I live in a town of 700 with rampant financial corruption. Chicago is super wealthy, but you’d never know it living here, the roads are full of potholes, no new infrastructure worth mentioning, only a matter of time before the State has to declare bankruptcy. Illinois bonds are almost now junk rated, very sad, because, if run correctly, this state could have a lot to offer. They should lock up the politicians running Illannoy (Indiana put up a billboard stating “Had enough of Illannoy, move to Indiana!” that’s where I got that wonderful twist on words!
Crime doesn’t pay as well as politics!
I can’t decide whether that’s redundant or contradictory. š
Well, here in CA, Newsom is proposing a $56.3 BILLION dollar bail out. Keep in mind he set up to give all illegals $1,000 and their kids $500 in that as well. I believe Ass. Woman Melendez said about 2 months ago we had a $21Billion surplus (her words “overtaxed”). SO one has to assume that hes hitting Trump up for the other $35 Billion. Now Tesla is threatening to leave CA as he won’t let them open. I think this is a ploy to depopulate CA (40Million) and spread people all over the nation. Businesses are closing and people are moving out of CA. Gonna drive up prices elsewhere. Ive watched SD, ND, WY, MT housing prices double in the past 2 years. Fraid I’m stuck here now. Cant get a better house than what I have or any more land for that matter.