Joe Biden's proposed stimulus checks are a lousy way to fix the economy says CNN

New York (CNN Business)The most expensive provision in Joe Biden's $1.9 trillion economic recovery plan is his proposal to send an additional $1,400 to most Americans. According to many economists, that's the least effective way to help revive the economy.t

www.cnn.com...

The Democrat mouthpiece is already backtracking saying most will put it in savings and using the Mitch McConnell excuse that it goes to people who don't need it

The dirtbags just keep on lying. They would have been able to give everyone 4 grand had they not lined their personal overseas money laundering accounts with the last so called Relief bill.

600 dollars for us and millions to them. So what is the best way to stimulate the economy? Well that is not really the question they should be asking now is it, they don't say that. They should call it what it is, Federal emergency relief to keep people from losing everything they have and dying is the real question !!!!

The amount of people who lost their jobs and cant get unemployment because their states unemployment system is a cluster F@@5 is staggering.

I wonder why? The states already said they made it near impossible to get money through their unemployment systems so people would try really hard to find another job. They keep claiming they have fixed those issues when they still haven't. If the jobs are not out there the dam Government needs to stop spending money on stupid crap and get people money BEFORE our entire economy crashes.

They have Billions to spend on more Jet Fighters right now as we speak but can not send the people money to keep them alive and save our economy!!

Wealthy people who don't need help call it Socialism, no its not Socialism you fools. The Chinese and Democrats caused this whole mess constantly forcing businesses to close while expecting them to pay the rent and electric bills for their place. 900,000 people signed on to Unemployment last week alone thanks to Democrat states locking down AGAIN.

Taking the Flu cases and everything else under the sun and calling them Covid cases just because the public hospitals are lying just to get federal aid money PER PERSON.

The money that the Government is and must keep sending out is a very Temporary aid for people who need it, to keep people from losing everything they have, dying and our economy from crashing.

The Democrat mouthpiece is already backtracking saying most will put it in savings and using the Mitch McConnell excuse that it goes to people who don't need it lol.

I know people who have not got the last check of 600 when they were told a specific date and now the IRS claims they are working on it. More like they have been told to stop sending them.

The problem with the direct payments, according to economists and others critical of the plan, is that much of the stimulus would go to individuals who have not been financially hurt by the Covid-19 pandemic. That means those added dollars may not do much to boost economic activity.

www.cnn.com...

Less that One percent of the top five percent under the income limit will get money FOR THEIR FAMILIES. That is a very low number and once again, they will spend it because the worst thing you can do with your cash is put it in savings so the banks use it.

The money could be a lifeline for struggling taxpayers. But one of the biggest problems, according to economists, is many who receive the checks will either put the money into savings or use it to pay down debt, neither of which will do much to increase overall economic activity.

www.cnn.com...

Do they really expect anyone with half a damaged brain to believe this crap? Even wealthy people are taking a huge hit right now if they are not in a specific industry that has not been affected and if they can get more money it ends up going back into paying someone with a dam job. That causes others to get a job!!!!

Spending is the only thing that stimulates our economy, that is a fact. How long are you all going to put up with being poor, soon to be standing in Government food lines waiting for your bread and cheese?

a reply to: RudeMarine

$1400 is 70 hours of work at $20/h before taxes.

What the # is $1400 going to get people that've been forced out of work? That'll last people about a day as they catch up on bills and such. It's a joke.

If they want to stimulate the economy, let people go back to work. You can't rebound an economy with a $1400 payment, that's gotta be one of the dumbest things i've heard and i'm hardly an economist.

a reply to: RudeMarine

Pay attention to who swoops in and buys up all of those shut down businesses and homes that are being lost due to people jobless with no income thru no fault of their own but for the scamdemic.

a reply to: RudeMarine

Oh no! As CNN goes, so goes the nation (sez the self-admirers at CNN).

So that means the congress will have to invoke the 25th Amendment so that the ultimate exercise in virtual signaling may commence.

Cheers

Ask yourself why they wouldent want people to have an extra 1400 in savings

Also I think we all saw this comming once in office the plebs get nothing

originally posted by: seeker1963
a reply to: RudeMarine

Pay attention to who swoops in and buys up all of those shut down businesses and homes that are being lost due to people jobless with no income thru no fault of their own but for the scamdemic.

Now i know why China is smirking in the corner... That's your buyer...

Living in Seattle, i get to see first hand how China influences an area by buying up freaking everything they can touch.. British Columbia was smart putting a foreign buyer tax on them.. Not sure why the US hasnt done the same, because they will be primed to scoop up loads of assets on the cheap..

I've been arguing for reopening the economy as stimulus. I'd rather not hyperinflate our money.

But if they're going to print it, it's going to crypto.

a reply to: RudeMarine

They're not wrong, but I can see this for what it is... CNN is getting their robots ready to pull support for Biden and throw it all to Harris. If she makes the exact same proposal, CNN will tell everyone it's a good idea and much better than nothing. Biden will be in his wheelchair smiling and nodding his head like Bernie did after he got the shaft.

a reply to: jhn7537

British Columbia was smart putting a foreign buyer tax on them

It was a token gesture that hasn't stopped #. They now just use locals as fronts to buy the property while funnelling the money back to china.

originally posted by: dug88
a reply to: RudeMarine

$1400 is 70 hours of work at $20/h before taxes.

What the # is $1400 going to get people that've been forced out of work? That'll last people about a day as they catch up on bills and such. It's a joke.

If they want to stimulate the economy, let people go back to work. You can't rebound an economy with a $1400 payment, that's gotta be one of the dumbest things i've heard and i'm hardly an economist.

Opening economy so people can go back to work is the only solution. The problem is the goal was to hurt the economy to get Trump out of the office. The only way to make that work was to force businesses to shut down.

The economy will be reopening soon now that the election is over. They will roll back all the draconian measures... we already see blue state governors saying they need to reopen. CDC / WHO changing guidelines for how cases are counted will result in a miracle decline in Covid case counts and Biden will be able to claim his management / policies defeated Covid when all that changed is how things are measured.

originally posted by: F2d5thCavv2
So that means the congress will have to invoke the 25th Amendment so that the ultimate exercise in virtual signaling may commence.

Dusted it off for Trump knowing full well they were really gonna get rid of Biden with it.

From the perspective that I wasn't in-range for it ... I'm laughing at all the people who voted "Stimulus Check". Stoopid ... mouth-breathing ... suckers.

a reply to: RudeMarine

This is interesting. CNN, along with 95% of corporate media, hasn't said one negative thing about Biden up until this point for obvious reasons.

Its beyond obvious that Trump's mere existence brought them viewership thru manufactured hatred.

So now what? What's the formula for the Chinese sponsored outlets? Mix in a few benign swipes at Biden per week to give their sh!tty product an edge?

I predict the first month or so they'll try to milk the last drops out of the last American president we had. They'll push the angle of Trump facing criminal charges. For what? They wont say. But the desperation will be palpable and nothing will come of it.

Geez. It's all so lame. Can we get some actual justice?

a reply to: RudeMarine

Uh, check the IRS site. if you get a paper check,4 weeks to get the 600. its already mailed out. March will be the same for the 1400.

Most of the people working for CNN probably don't qualify...Dah, they think it is a bad idea because they won't benefit from it. No sheet.

originally posted by: seeker1963
a reply to: RudeMarine

Pay attention to who swoops in and buys up all of those shut down businesses and homes that are being lost due to people jobless with no income thru no fault of their own but for the scamdemic.

This is what it has ALWAYS been about. Wealth transfer to the haves from the have nots. The election show was just to keep people’s heads in the sands and not pay attention. It’s still happening.

The past couple stimulus checks have had MILLIONS of people take that money and dump it into the stock market. The common man has been manipulating elitist marketplaces and using federal money to take back some of the money financial institutions have siphoned off for decades.

I know tons of people who turned their free $1600 into $20K in the market betting against financial institutions since last March. Multiply that across and wealth is being taken back.

The elite in this country can’t have that, and they’ve been free rolling it for the last 10 months.

They’ll ratchet up financial pressure to continue to suck the common person dry.

a reply to: RudeMarine

Good points man I agree with everything you said.

How long are you all going to put up with being poor, soon to be standing in Government food lines waiting for your bread and cheese?

I see this coming soon unfortunately. We are in the later stages of a massive bubble right now. You guys think 2020 was bad? $h!t is about to get real this year people.

originally posted by: seeker1963
a reply to: RudeMarine

Pay attention to who swoops in and buys up all of those shut down businesses and homes that are being lost due to people jobless with no income thru no fault of their own but for the scamdemic.

Agents from within the Rothschild/East India Company 😎

a reply to: RudeMarine

Or, looking it at this another way, it shows that there is no monolithic liberal power bloc.

And stimulus money is no substitute for fixing structural issues and investment. It's the economic equivalent of pawning your TV to pay the electricity bill.

a reply to: jhn7537

And once the dollar is dropped assets are what it will be about. The Chinese are buying farms in America right now. So is Bill Gates.

While giving money away is the best way to kill the economy, increase unemployment and created and economic crisis down the pipe, the DemocRats have not plan on how to bring the economy back right now, you can no keep pushing covid, stay at home and keep people in fear for ever.

Do not think for one moment that the money no given to people is going to be saved, this money will end up in the hands of foreign nations and useless incentives like the ones for green energy soo they can run with the money and claim bankruptcy later on. Better yet is going to be need for money to support the caravan of illegals coming to America after all they are the future of the Democratic party for next elections.