One can say what he wants about Obama. Like him or hate him, Obama never suggested giving TARP-style bailouts for the whole country, such as what Trump’s administration is suggesting, and according to the words of Steve Mnuchin, directly from Trump himself, a TARP-style bailout for the people.
Treasury Secretary Steven Mnuchin said Tuesday that the Trump administration wants to get emergency funds in Americans’ pockets “immediately” amid the coronavirus crisis.
“Americans need cash now,” Mnuchin said during a White House press briefing on the administration’s latest efforts to combat the disease. “I mean now in the next two weeks.”
“The president has instructed me that we have to do this now,” Mnuchin added.
The latest daily briefing came as stocks struggled to recover from one of the worst trading sessions ever.
Markets have shed trillions of dollars amid the coronavirus spread, which has crippled major industries and forced governments around the world to take drastic steps to try to slow the spread of the disease. States and cities have taken sweeping measures to reduce social interaction, including limiting restaurants to delivery and takeout services. Other businesses have had to lay off and furlough employees. (source)
IF this actually happens, this is a MAJOR event.
First, it is giving TARP-style bailouts to the common man. This would be a repeat of 2007 but larger.
Second, it will likely aid in devaluing the dollar more than what it already has been devalued. One cannot print money- which is what this would be -without reducing its value, and drive up prices.
Third, it could result in large increases in the value of hard-commodities traditionally seen as safe-haven assets, such as metals.
Fourth, it would be the open application of socialism in the public.
Fifth, and the largest reason, it that THIS WOULD BE EXACTLY WHAT REPUBLICANS SAID OBAMA WOULD DO.
That is right.
Republicans said that OBAMA WAS GOING TO PRINT MONEY because he was a SOCIALIST who wanted to DESTROY AMERICA.
Yet here we have Donald Trump’s administration seriously discussing the exact same thing that Republicans cried about during Obama’s time.
Let’s remember that:
-People said Obama would ban guns when he gave more gun rights, while Trump took rights away.
-People said Obama was going to start a war around the world, when in reality he made peace with Iran in a deal that was destroyed by Trump.
-People said that Obama was going to do the will of foreign powers, when he did nothing more than other American presidents and even asked Israel to control themselves, but Trump has been spending his time giving Israel whatever she wants.
Now Trump is seriously looking at doing what the Republicans warned against would be socialism.
What is the difference between Trump, Biden, and Bernie now, save for debating who has the better flavor of socialism?
And we still say the problem is poor, starving brown people from other countries suffering from our policies trying to flee for their lives.
I have only three letters to say.
L. O. L.