Bitcoin Forum

Other => Politics & Society => Topic started by: gredinger on March 12, 2021, 04:12:57 AM



Title: Stimulus has passed - law of the land.
Post by: gredinger on March 12, 2021, 04:12:57 AM
https://i.imgur.com/ZqdDhi0.png

Didn't realize cobra coverage was part of the bill.

Good stuff.


Title: Re: Stimulus has passed - law of the land.
Post by: OgNasty on March 16, 2021, 05:41:19 AM
It’s starting to feel like the government is paying my bills at this point. I give it 2 more presidents at the most before we’re all getting monthly checks. Everything feels like we’ve moving towards universal income, it’s just a matter of time.


Title: Re: Stimulus has passed - law of the land.
Post by: PrimeNumber7 on March 16, 2021, 06:00:56 AM
This is not stimulus. It is government handouts to people that largely do not need the money. More importantly, and not mentioned in the OP, it is pork funding democrat special interests.


Title: Re: Stimulus has passed - law of the land.
Post by: Gyfts on March 16, 2021, 07:10:20 AM
This is not stimulus. It is government handouts to people that largely do not need the money. More importantly, and not mentioned in the OP, it is pork funding democrat special interests.

Hey now, it's called "relief" and by relief I mean 10 percent goes to Americans and the other 90% goes out to bailing poorly run states out, teachers unions, who Biden seems to love, and ACA subsidies.

No one should be getting 1400 dollar checks. At most you could make the case for unemployment supplements because if you're someone that has a legitimate reason to be out of work (not just being a bum), then you should get some help. 1400 bucks doesn't even do anything and it's a number that was made up out of thin air. Trump also very stupidly suggested 2k checks which helped R's to lose the senate so really there's a lot of blame to go around.


Title: Re: Stimulus has passed - law of the land.
Post by: Poker Player on March 16, 2021, 11:31:12 AM
It’s starting to feel like the government is paying my bills at this point. I give it 2 more presidents at the most before we’re all getting monthly checks. Everything feels like we’ve moving towards universal income, it’s just a matter of time.

Good luck with going in the direction of Venezuela. They have kind of universal income there with 26 minimum wage increases in the past few years which leave a minimum wage of less than $1 (like 0,5M bolivares). So everybody is equally hungry.

This is not stimulus. It is government handouts to people that largely do not need the money. More importantly, and not mentioned in the OP, it is pork funding democrat special interests.

This.


Title: Re: Stimulus has passed - law of the land.
Post by: Rruchi man on March 16, 2021, 01:24:48 PM
Great to see that there is a package for the dependents. Very particularly important because for some the people they are depending on now need help.


Title: Re: Stimulus has passed - law of the land.
Post by: BADecker on March 16, 2021, 09:30:35 PM
When the money system flops, it will go in a short time... maybe weeks or days, or even less.

People will laugh at this stimulus like people laugh at 'nowhere to go to avoid inevitable death'.

8)


Title: Re: Stimulus has passed - law of the land.
Post by: PrimeNumber7 on March 16, 2021, 10:21:30 PM
This is not stimulus. It is government handouts to people that largely do not need the money. More importantly, and not mentioned in the OP, it is pork funding democrat special interests.

Hey now, it's called "relief" and by relief I mean 10 percent goes to Americans and the other 90% goes out to bailing poorly run states out, teachers unions, who Biden seems to love, and ACA subsidies.
Representative Gosar introduced (https://www.foxbusiness.com/politics/republican-slashes-trillion-dollar-covid-package-asks-for-10000-stimulus-checks-instead) a competing bill that would cost $1 trillion and would give $10,000 checks to Americans. The law passed gives Americans $1,400 and costs $1.9 trillion.

No one should be getting 1400 dollar checks. At most you could make the case for unemployment supplements because if you're someone that has a legitimate reason to be out of work (not just being a bum), then you should get some help. 1400 bucks doesn't even do anything and it's a number that was made up out of thin air. Trump also very stupidly suggested 2k checks which helped R's to lose the senate so really there's a lot of blame to go around.
The $1,400 is $2,000 when you add in the $600 that Americans got in Trump's final days in office. The March 2020 stimulus money was largely spent on savings (the personal savings rate went way up), and paying down debt/bills unrelated to covid. At this part of the economic cycle, I see little reason for additional stimulus spending. I would have to agree that the stimulus payments are not money put to good use.


Title: Re: Stimulus has passed - law of the land.
Post by: gredinger on March 17, 2021, 02:32:45 AM
Great to see that there is a package for the dependents. Very particularly important because for some the people they are depending on now need help.

Yep. The money doesn't arrive for 90 days. After that, it's in monthly checks until the end of the year.


Title: Re: Stimulus has passed - law of the land.
Post by: ammodotcom on March 17, 2021, 06:42:18 AM
It’s starting to feel like the government is paying my bills at this point. I give it 2 more presidents at the most before we’re all getting monthly checks. Everything feels like we’ve moving towards universal income, it’s just a matter of time.

When people depend on the government for their existence, the government suddenly needs them less than ever.


Title: Re: Stimulus has passed - law of the land.
Post by: bryant.coleman on March 17, 2021, 12:04:45 PM
This is not stimulus. It is government handouts to people that largely do not need the money. More importantly, and not mentioned in the OP, it is pork funding democrat special interests.

Hey now, it's called "relief" and by relief I mean 10 percent goes to Americans and the other 90% goes out to bailing poorly run states out, teachers unions, who Biden seems to love, and ACA subsidies.

No one should be getting 1400 dollar checks. At most you could make the case for unemployment supplements because if you're someone that has a legitimate reason to be out of work (not just being a bum), then you should get some help. 1400 bucks doesn't even do anything and it's a number that was made up out of thin air. Trump also very stupidly suggested 2k checks which helped R's to lose the senate so really there's a lot of blame to go around.

If I was an American, then I would be unhappy about all this. Since I am not an American citizen, all I care about is the impact of this stimulus on Bitcoin exchange rates. The entire episode will be beneficial. There are two factors. First of all, 75% of the people who receive these checks don't need them. So they will be investing in assets such as equities and Bitcoin, thereby increasing the demand. And secondly, there will be inflation with US Dollar and that will push Bitcoin prices upward.


Title: Re: Stimulus has passed - law of the land.
Post by: Poker Player on March 17, 2021, 01:24:13 PM
I would have to agree that the stimulus payments are not money put to good use.

I'd say not even those who put them into practice believe that they are using the money correctly. They just think this will get them more votes.  Humans tend to overestimate short-term effects and underestimate long-term effects. So, I bet there will be more people getting the check and liking it than worrying about the long-term effects of the package.