Originally Posted by LUVisLost

I got mine SCREW you all!! Yeah yeah yeah, heard it before and it’s a bad argument.

You missed the entire point by the way. The extra money is not just to help those people that need but to help jump start the US economy. We are a society of consumerism. You stop the spending you stop the machine and the evil devil we all try to avoid is deflation, and nothing starts deflation than a stop in spending. You give people money and it keeps the patient on life support. The micro and macro view is quite divergent but that is the case in a lot of economic viewpoints. Transitory inflation is what we have now. Look at lumber futures today? Absolutely TANKING…a few more days and it will be back to what it was before the pandemic started. Semi conductors have a multitude of reasons why they spiking in price but a pandemic, drought in Taiwan, shifting of the supply chain and backlog of ships in China loading and unloading in the US all are causing temporary price spikes. Those issues will also be fixed soon. So if the price to pay to keep the patient alive while the risk averse private sectors come back alive, so be it, it’s for the betterment of the national economy.

What I’m saying is and I will call you out specifically, you have absolutely no idea what you are talking about. I heard the same argument during the Great Recession, thus why we screwed the pooch and didn’t pump enough money into the economy, guess what? People still worked and inflation was tame if existent at all. MMT may provide some insight into the reasons why but I’m not totally convinced on that one yet but I am in tune with lots of online economic debates about it.