If I had to guess, I would say that our government will probably go for the latter. Which is also helped along by president Chump giving encouragement to the protesters why want to re-open the economy. And there are a lot of people suffering economic hardship. But seeing how there isn't likely to be a second round of stimulus checks, many have no choice but to go back to work. Even if it means risking their lives and spreading the coronavirus even more.
Over 80,000 people have died so far. What is the amount of genocide our country is willing to endure at the altar of capitalism as we know it. For those in power, more than likely any level of slaughter is acceptable to preserve capitalism as it was before the coronavirus.
Have y'all gotten "your" checks? I'm surprised that my wife and I haven't. She told me she filed our taxes last year, and I believed her. (-: Our daughter was not a dependent last year, and she has not received one either.
I have direct deposit with the IRS, so mine was in my account April 30th. They say those who are getting paper checks, they might all not be sent out until September of this year.
We are getting paper checks and one can go onto the site and see the progress of their check. Site said ours is now in the mail.
The Get My Payment application is no longer available. You can still claim a missing payment and view your payment history.
www.irs.gov
That was stimulus checks 1. How many months were they supposed to last. From the people I see on the news who can't pay rent or waiting in long lines for food, I think it's time for a second round of stimulus checks. And why not. It's only money. Our national debt is already so large that it is basically an insanely large number on a tally sheet. What difference is 3 or 40 trillion more going to make.
Once we can no longer pay the interest on our debt, we lose our credit rating. When we lose our national credit rating, it's not that much different than your personal credit rating being low. Nobody will lend you money.
We don't need ******* foreign money. You know, there was a time in Germany when unemployment was rampant and people literally needed a wheelbarrow full of money to buy a loaf of bread with. The holy Hitler fixed all that.
I'm not sure you really want to make that comparison. And it's not actually true.
First it is exactly because they were not getting foreign money, that caused the Weimar Republican to be ruined.
But to say that holy Hitler fixed all that, is kind of a stretch. First, Hitler had the advantage of having tons of socialized companies.
The Weimar Republic, had nationalized dozens of industries and utilities. Of course, as with any country that goes on a nationalize spree, the results were damaging to the economy.
Hitler was able to fund the government, in part, by selling off (privatizing) those companies.
Further, Hitler gained more funding by those companies, by supplying them with slave labor. Many companies supported Hitler even into the end stages of World War 2, because they were making a killing from the Nazi supplies of free labor.
Lastly, and this is lesser known, but Hitler looted the banks.
Despite facing many of the same challenges, Germany’s current macroeconomic policy is substantially different to those of other countries, in part due to the economy legacy of Walter Eucken. This column considers the economic policy of Hjalmar Schacht, whose ‘MEFO-bills’ monetary solution ended...
voxeu.org
When the MEFO-bills came due, the government of Germany required that banks purchase the MEFO-Bills, thus bringing revenue into the government, to ironically, pay back the bills.
This as you might imagine, had the effect of looting people's savings accounts, because banks would have MEFO-Bills instead of money, and simply couldn't pay back some of the people. Of course no one complained because this was the height of the Nazi power in Germany, and no one dared risk having the Gestapo show up.
And when you combine the privatization, the slave labor, the war spending, plus sending millions of otherwise unemployed into the military.... yeah economy recovered.
However, you are actually not correct in saying the Germans did not need foreign money. Foreign money was one of the primary goals of the Nazi German government.
So, I was doing a bit of that aimless reading one so often does on the internet and I came across the transcript from the trial of Hjalmar Schacht at Nuremberg after the war. Schacht was, of course…
fixingtheeconomists.wordpress.com
Hjalmar Schacht was the chief of the Nazi economic plan. He testified at Nuremberg, the following...
There were three main features of the “New Plan” as devised by Schacht: (1) restriction of the demand for such foreign exchange as would be used for purposes unrelated to the conspirators’ rearmament program; (2) increase of the supply of foreign exchange, as a means of paying for essential imports which could not otherwise be acquired; and (3) clearing agreements and other devices obviating the need for foreign exchange
To summarize:
1. Restrict the use of foreign exchange for Nazi purposes.
2. Increase the amount of foreign exchange for Nazi purposes.
3. Make policies that reduced the need for foreign exchange.
So they did need foreign currency, and quite a bit of it.
Foreign currency was so important, that they put in place rationing of gasoline and rubber. People couldn't buy tires for their cars, or fuel for their cars, so that the Nazis could use those foreign currency, to buy the weapons and supplies they wanted.
They tried in some cases to get agreements to exchange goods for fuel and rubber, so they could use more of the foreign currency for what they wanted.
But... the bottom line is, Hitler most certainly did use foreign currency, and a lot of it.
Regardless, I'm not sure if your solution of not needing foreign currency, by having the government loot the banks, and taking away all your savings, is the best possible solution.
And let's not forget that, ultimately those wide spread investments into the economy, had the end resulted in nearly 5 million dead, and half the country doomed to impoverishment and starvation under the Soviets.