We've Officially Gone Full Bernie Sanders

Politics
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Amazing how, one day after Sanders drops out, the Federal Reserve has announced ANOTHER $2.3 trillion dollars in bailouts for corporate and municipal bonds. At this point we’re monetizing debt, allowing NO company to fail, and have implemented Banana Republic style monetary policy.

Why anyone would want to go back to a $10 an hour job when this is all over is beyond me. With the politicians and the Fed hell bent on inflating away the debt and destroying the currency, you’d be better off staying home and doing nothing.

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There is a GIGANTIC deflationary hole at present.

There will be no inflation for the forseeable future.

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helium balloons violating social distancing regulations

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I would strongly suggest you check the action in gold and silver. A single 1 ounce gold American Eagle is going for over $1800. That is insane…and it paints an ugly picture of the currency debasement.

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As soon as this is all over, we will go back to fighting over several billion dollars on the margins of the food stamp program.

This is the kind of thing that makes people sharpen their guillotines.

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I still buy all of my stuff in dollars.

You?

7

Yep ^^^ this 100%

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I’m surprised it’s taken this long. The Fed is destroying purchasing power of the wage slaves while printing trillions out of thin air to bail out Wall Street.

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Not really…anything not used for bills has been funneled into precious metals for years. We’re going to hit $30 trillion in debt…printing money to monetize it. Hard assets are the answer to this insanity.

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I mean… that sounds fine.

When you want to use your hard asset do you trade that or do you convert it into Dollars?

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I don’t even see dollars, just numbers on a screen.

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I’m in my late 40s…so when I do convert it in 30 years or so…I don’t know if the dollar in its current form will still exist. When the first round of bailouts started in late 2008/early 2009, gold was below $700. Now it’s over $1700. That is an insane amount of currency debasement in just over a decade.

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I remember back when we were having the argument with the Paulites over fiat currency and someone made a great example of hard currency backed by paper clips to show the silliness of the Paulite stance.

A little of that going on now,

Just wait and see…17 million new unemployed in three weeks.

GDP is probably contracting by 25+% this quarter.

There’s nothing to inflate.

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They’re pumping the stock market like crazy. Believe it or not, despite the collapse in corporate earnings, the price to earnings ratio of the S&P 500 is now HIGHER than it was when stocks were at all time records.

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over that same period an investment in an broad based no load S&P 500 mutual fund, even with the current dip, would have yielded you a lot more money.

I wish you luck… but to buy a hard asset like gold… something that no one bases their currency on anymore… especially at a high mark doesn’t seem to wise.

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Valuing Gold or any other hard asset is built upon the same exact fiction that valuing any currency is.

If people as a whole lose faith that the US Dollar isn’t the least worst choice to have a reserve currency then we are probably ■■■■■■■

I don’t see why or how that would happen in the near future at least.

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Yep…I’m not getting this thingy at all. Does the American people own stock, like in GM? What’s in it for the taxpayers?

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From what I saw, over half of all Americans own NO stock at all. Many more have only marginal amounts in 401ks. I believe the majority of Americans have more pressing concerns than the stock market. And seeing these repeated bailouts of the market while ordinary Americans are suffering is going to cause trouble.

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government helping those who they made suffer is not bernie sanders

OP wrong

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Only…I’m not sure how $2.3 trillion more to bail out corporate bond markets and exchange traded funds is helping ordinary Americans. Especially when so many are STILL unable to get unemployment benefits…and no one has received a stimulus check.