UBI will have to be instituted to save the economy

In general , I agree with you on this subject .... I just want to clarify one particular phrase ....I think this phrase is kinda overused and misused.

Leveraging Debt .... Businesses nor people leverage debt , they leverage value on "something". They leverage the value of X into credit (debt).

It would be precise to say "Leveraging Equity".

 

I'm in agreement on UBI - To actual PEOPLE ....

It's much less costly than trying to bail out so many businesses , it's billions per month rather than trillions.

 

I just want to say , I think this is the only post from @Senator that ive ever liked .*

UBI just makes sense y’all .

now , at this point with places reopening I’m not sure how large the stimulus needs to be , but there should still be some imo .

I’m very much in favor of a normal 1k a month during normal times , but these aren’t normal times and part of the reason Yangs proposed structure made sense was because there would also be a tax that paid for it , at least in part .

the root of the problem with the economy right now is that there is very little resilience.

so many live paycheck to paycheck , businesses run week to week and month to month .

Why and how we got there is a discussion in and of itself , there is plenty of blame to go around.

how we get out of it is also a very important question . We are in a bind right now on two fronts . How many businesses will truly bounce back ?

the best way to help small business is instead of putting money into businesses and using banks and government cough “oversight” to allocate funds , just put money in people’s hands .

the concern about inflation and printing money and borrowing , let me tell you we’ve already done a lot of it . People are reluctant to spend right now / can’t .

I’m not gonna say inflation is a myth , but small amounts of inflation isn’t bad , medium amounts are ok too . Right now we are at 0. Deflation is actually a more dangerous threat and can turn a recession into a depression .

we need to engender an environment where people that are able to live frugally can build savings .

some inflation may result in the future but it can be a good thing . It can help some markets stabilize and find a baseline . Even in a case where inflation reaches core goods like groceries if the price of milk is 2 bucks and it goes up 25% which is pretty ****ing high , how many gallons a week do you have to buy for that meaningfully to cut into 1000 bucks a month ? And it’s 25 percent a year not a month . And it Probsbly stabilizes within a year . I don’t think the price of milk would go up that much anyways , it’s not like cows are dying .

it’s just such a common sense solution and the arguments people make against it can be applied to a number of things the government is already doing . It could and I would bet will have major unintended positive consequences along with a few negative , don’t get me wrong ... it’s not a perfect idea. Completely paying for it requires some strong luck .

monetary and macroeconomics is beyond me. Central bankers are their own special breed and truly , those are the peeps that control the reigns .

But I’ll say , the full depth of the “economy” as a whole is too vast to be contained and considered in any one persons head .

I think our current application and allocation of capital right now is misplaced and/ or not enough. The current dynamic of either tying money up in government process , or banks favored clientele , or going with a more “free market” approach and letting big business swallow up smaller companies disadvantages the many in favor of the few .

this top down bullshit has got to stop . The best way to help businesses in the short and in the long run is to put buying power in the hands of their customers . Good business can differentiate itself . The prospects for a well run local restaurant are much better on the rebound and during the pseudo lockdown if it’s customers have extra cash to spend .

This post is getting too long so I’ll stop but , Hopefully my track is clear.