Small business is getting hammered. Some will say this is by design. Hundreds of thousands are losing not only their livelihoods but also their savings.
In this video I discuss how the debate over $2,000 pales in comparison to what is being lost.
▶️ 3Speak
Considering we waited almost 9 months, $2,000 is almost nothing and even then a majority of the money going to where they want..
The way the rules are played are destroying small businesses (they modify it for themselves). For example, Governor Newsom of California took a huge paycheck from the PPP for his businesses while small businesses struggle to get a drop of it. Then at the same time, Hollywood can do what they want while restaurants and bars are dying off.
Yep that is how it works.
That is why there will likely be violence coming out of all this.
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What I'd like to see is massively scaled up stimulus straight from the central banks to small business owners directly impacted by the lockdowns.
That said, the excess money printing is a problem we've had for a very long time. Probably since the days of Bernanke and it has been party misdirected. We've had a decade of very loose monetary policy without much in the way of results.
Dealing with the ongoing crisis requires MUCH more than what has been done so far.
I feel that the elites are playing with fire based on how they've dealt with this thing. Do they want something like actual Nazis taking over governments?
If the middle class feels that they've been deeply betrayed by the elites there will be a revolt and the elites find themselves hanging from lamp posts.
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That takes an act of Congress. The Fed is limited to what they can do by statute. They cannot directly stimulate and that is the problem. Only Congress can do that.
Ideally, the Fed should send the checks directly to individuals and bypass the banks altogether. That would get the money into the economy and enable it to have an impact. The velocity of money is heading towards nil because most of the money doesnt leave the banks.
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So in the states you need a certain equity or maybe a business as a collateral in other to collect a loan from a central bank? How about maybe landed proper
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Land will work but most small businesses do not own the land they are on. It is the equity in the business that can be used for collateral.
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couldn't agree more.
enjoy the 100% upvote and some !wine
The consequences for this can be severe. Politics can get crazier than it already is.
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Yeah it is batshit crazy.
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