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A recession inevitable due to COVID-19?

Discussion in 'Other Off Topic Forum' started by Dilusha, Mar 9, 2020.

  1. BT

    BT F1 World Champ

    Mar 21, 2005
    14,590
    FL / GA
    Full Name:
    Bill Tracy
    I find it incredulous that the public is screaming for this dumb stimulus bill to pass. they want to get a check for $1,200. Don't they realize the money will have to be paid back (with interest) through taxation? Assuming there are 100 million working Americans that pay taxes, the average tax bill will be $20,000. I think people should have paid attention during math and civics classes. Glad I am about to retire, but sad for my kids that they are being further burdened by this stupid government.
     
  2. plastique999

    plastique999 F1 Veteran
    Silver Subscribed Owner

    Nov 9, 2008
    5,280
    SoCal
    Full Name:
    Edward
    Are you talking of the current new Stimulus Care bill?
    My understanding is it is directed towards small businesses to support their payroll, rent etc. which could be huge for businesses ....


    Sent from my 16M
     
  3. BT

    BT F1 World Champ

    Mar 21, 2005
    14,590
    FL / GA
    Full Name:
    Bill Tracy
    Yes, I am talking about the current $2 trillion stimulus. The people that will pay it all back are the taxpayers. Considering there are about 100 million tax paying workers in the United States, out works out to about $20,000 per person. If businesses are supposed to pay it back, they will simply tack it on to the costs passed on to the taxpayers again (plus profit), so in that case, the cost to the average worker is going to be a bit over $20k.
     
  4. spicedriver

    spicedriver Formula 3

    Feb 1, 2011
    1,857
    These things never get "paid back". The Fed will just create the money out of thin air. This will inflate hard assets like stocks and real estate, but will dilute the value of cash savings. The people holding cash are going to take the hit.
     
  5. BMW.SauberF1Team

    BMW.SauberF1Team F1 World Champ

    Dec 4, 2004
    12,620
    +1 yep that is exactly what will happen. QE programs cause asset price inflation. Bubble reflating.
     
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  6. 09Scuderia

    09Scuderia Formula 3

    Nov 20, 2011
    2,130
    Austin, Texas
    Full Name:
    Tim&Julie
    - it is not 2, it's 6 trillion countings the money the fed is spending buying 'stuff'. 6 trillion.
    - It will never, ever in a billion trillion years be paid back.
    - negative rates happened today.
    - the fed will never stop QE, stimulus or whatever you want to call. They can't.
     
  7. one4torque

    one4torque Formula 3

    May 20, 2018
    1,607
    USA
    Full Name:
    One4torque
    Time to go back to work...... 3rd world countries are laughing at us now....... toughen up, suck it up..... get back to work.....
     

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