An Economic Time Bomb - Analyzing the 3rd "Covid Relief" Package

An 18-minute analysis of the newest "COVID RELIEF" package that Biden signed last week (pro-tip, you can click the gear symbol and watch YouTube videos at faster playback speed, up to 2X as fast if that suits your fancy).

Did you know the US Government has spent more on COVID than they did on WW2 (inflation adjusted)? Pretty nuts to think about that! Also, combined these wasteful COVID "relief" packages add up to $4.515 Trillion in new debt, on top of a budget deficit of over $3.3 TRILLION last year and another deficit of an estimated $2+ TRILLION this year.

Also, in one of the previous COVID packages our tax dollars were used for some of the following (as you can see, all of it is COVID-focused and a great use of our tax dollars):

• NASCAR tax breaks
  
• $25 Million for "Gender Programs" in Pakistan
  
• $1 Billion so the Smithsonian can build 2 new museums (the American Women's History Museum & the National Museum of the American Latino)
  
• The Horseracing integrity & safety authority act (anti-doping measures in horse racing)
  

Additionally, the Federal Reserve has also purchased $1.3 Trillion worth of our own treasuries since April of last year (the yield on the 10-year has doubled in that timeframe).

Also, the Boston Bombing suspect who is still alive & imprisoned gets a $1,400 stimulus check in prison (I wonder what he will buy at the prison commissary with all those currency units!)

Just surpassed a record $28 TRILLION in national debt (that's $224,000 per taxpayer BTW) and it continues to accelerate higher: usdebtclock.org...

Anyway, this is my first official video and I hope it can help wake some people up as to the level of criminality we are witnessing from the upper echelons of America's government. Feedback welcomed.



PS here's a link to the podcast on related topics (12 episodes to date) - it's also on Spotify: anchor.fm...

WallSt Journal Article from the video: What Is in the Third Covid-19 Stimulus Package?

a reply to: FamCore

I heard on the news coming home that this $1.9 Trillion package has us close to $30 Trillion in National Debt. An unthinkable amount just 10 years ago.

Don't forget the $3.5 million to a researcher in San Diego, who is experimenting with Bobcat Urine, to see how to make drunk rats sober.

Always love your OP’s. Nice work

Thank you for what you do here FC

a reply to: FamCore

So far so good, nicely done if this is your first video.

Hopefully it gets more listens since this is a nightmare waiting to happen!

Listening @ 1.25X speed, thanks for the advice

a reply to: carewemust

What's the ROI on spending $3.5M on a study of bobcat urine? LOL there is just zero accountability... how are there not ANY policymakers with conviction and brains to cry out for an end to all of this spending & waste?

a reply to: FamCore

There are a lot of little wasteful expenditures like that in most "rescue" bills, whether they come from a Democrat or a Republican Congress.

The little lab that receives $3 million is hardly noticed in multi-billion dollar bills. I have a client who became wealthy from the Hurricane Katrina rescue package. He was a one-man basement waterproofing guy. Now he has 35 employees.

So while I've been worried about the debt since it was a measly 4 trillion, it seems to me, many here supported all that spending just a few short months ago.

So, what has changed? Oh, that's right, Trump and the Republicans aren't doing the spending. Now the Republicans are complaining, the exact same way the Democrats were complaining the last four years. Seems to be a pattern. A hypocritical pattern.

The DEBT is too large. It will sink our children and grandchildren. But the reality is, NO ONE CARES. Every single person here, including me, will be spending the money the government is sending us.

I've given up. So lets run this Government credit card OUT! Why not send out 100,000 dollar checks, monthly. After all, we have more printing presses.

It will catch up with us. But you know what, I'm older and.....

I don't care anymore.

a reply to: MiddleInsite

If you watched the video, politicians on BOTH sides of the aisle were criticized equally. You're the one making it about "Republicans vs. Democrats"

No. What I said is both sides do it, but only complain when the other side is spending the money.

They are equally as bad.

I was basically pointing out how hypocritical most are about the debt.

The debt isn't political. It's just the debt.

a reply to: FamCore

a reply to: FamCore

Good job!

Interesting that treasury has been decreasing the amounts they purchase before the Covid epidemic started. What do you make of that?

a reply to: MiddleInsite

thanks for clarifying, clearly the pendulum swings in the other direction whenever the opposing party takes power... I agree with that

originally posted by: KTemplar
a reply to: FamCore

Interesting that treasury has been decreasing the amounts they purchase before the Covid epidemic started. What do you make of that?

I'm not sure but maybe that was due to the liquidity problems in the repo markets (repurchase agreements) which enable short-term (overnight) liquidity for large domestic & international institutions/parties. The repo markets essentially "broke" in September 2019 and I'm not sure how these policymakers are using the Treasury General Account versus the Fed's Balance Sheet. just a few thoughts I had, sorry for the non-answer but the question is over my head.

a reply to: MiddleInsite

BS.


Many here called out the Trump administration for signing that debt.

a reply to: ofleming

it's only a matter of time (sadly), the controlled demolition of the current global financial system will allow nefarious actors to usher in the new financial system & infrastructure for an all-digital + all-taxable surveillance state

a reply to: FamCore

Quick follow up... government incinerates another $700 million by sending over 4,200 duplicate PPP checks in error, no consequences for government, just irreparable damage to the US Dollar and natural reinforcement of such bad behavior from our government administrators U. S. Pandemic Relief Program Mistakenly Paid $692 Million in Duplicate Loans: Watchdog

originally posted by: MiddleInsite
So while I've been worried about the debt since it was a measly 4 trillion, it seems to me, many here supported all that spending just a few short months ago.

So, what has changed? Oh, that's right, Trump and the Republicans aren't doing the spending. Now the Republicans are complaining, the exact same way the Democrats were complaining the last four years. Seems to be a pattern. A hypocritical pattern.

The DEBT is too large. It will sink our children and grandchildren. But the reality is, NO ONE CARES. Every single person here, including me, will be spending the money the government is sending us.

I've given up. So lets run this Government credit card OUT! Why not send out 100,000 dollar checks, monthly. After all, we have more printing presses.

It will catch up with us. But you know what, I'm older and.....

I don't care anymore.

That's BS what fantasy world are you living in? Show me one post by someone here who was ok with the pork in the bill, I definitely won't be holding my breath

a reply to: FamCore

Funny enough, earlier in the morning Youtube displayed 101 views, now it's gone down lol

but of course!

originally posted by: MiddleInsite
So while I've been worried about the debt since it was a measly 4 trillion, it seems to me, many here supported all that spending just a few short months ago.

So, what has changed? Oh, that's right, Trump and the Republicans aren't doing the spending. Now the Republicans are complaining, the exact same way the Democrats were complaining the last four years. Seems to be a pattern. A hypocritical pattern.

Not how I remember the story. I distinctly recall lots of unhappy folks posting here, both D's and R's, when the composition of the stimulus package was made public, and the extent of the pork revealed. I will agree that both major parties have their own pet spending initiatives that they champion, and remain quieter than a mouse fart when they run up the US debt, but scream and shout when the other side asks for funding of their pet projects.

originally posted by: MiddleInsite
The DEBT is too large. It will sink our children and grandchildren. But the reality is, NO ONE CARES. Every single person here, including me, will be spending the money the government is sending us.

No, I won't be spending one penny of the stimulus package, because I didn't receive any nor will I this round. Some of us, probably more than a few, don't qualify.

I am not bitter one bit, as I want to see my fellow Americans helped out after the financial destruction the shutdowns have inflicted.

That said, EVERY SINGLE CENT FROM THE STIMULUS SHOULD BE GOING /DIRECTLY/ TO US CITIZENS. Period.
No multi-million grants for Pakistani gender studies.
No military spending, domestic or foreign.
No fiscal bailout packages to bankrupt city and state governments.
This should be about helping out American citizens whose net worth has taken a hit due to lock-down. End of story.

originally posted by: MiddleInsite
I've given up. So lets run this Government credit card OUT! Why not send out 100,000 dollar checks, monthly. After all, we have more printing presses.

It will catch up with us. But you know what, I'm older and.....

I don't care anymore.

What an atrocious mentality. You must not have any kids then, or if you do, you are abrogating your parental responsibility to care about their future.

originally posted by: FamCore
a reply to: carewemust

What's the ROI on spending $3.5M on a study of bobcat urine? LOL there is just zero accountability... how are there not ANY policymakers with conviction and brains to cry out for an end to all of this spending & waste?

It's a #ing financial windfall for the asshole who is doing the study. Wonder who's brother in law he is.

Very good job with what many consider to be a boring but important subject. I am of the opinion however that the cow is out of the barn already and we are headed for a "great reset" whether managed, planned or accidental. It IS coming and soon. Directing the fallout is the primary task of the controllers which is why I feel strongly that depopulation to the tune of billions is part and parcel of their goals.
Thank you for a presentation well done.