$1.9 trillion stimulus passes senate

[Bergkampsballs]

I believe that it is wrong to distribute money for free to the entire population of the country. For residents of the United States, $ 1000 will not give much benefit, and for the economy, $ 1.9 trillion is a very high cost indicator. This money could be directed to better goals, which would lead to any positive consequences.

I think Americans in general have a tendency to hate any policies that could be labelled as socialist such as this but like I said in the above post, if you look at the Scandinavian countries that follow the Nordic model of high taxes to subsidize world class social welfare programs, it's actually resulted in their citizens enjoying a fantastic standard of living...


Social Welfare spending as % of GDP:

Finland: 30.8%
Denmark: 27.8%
Sweden: 27.1%
Norway: 25.1%
UK: 21.5%
USA: 19.3%

https://en.wikipedia.org/wiki/List_of_countries_by_social_welfare_spending

Quality of life index:

Denmark: 1st
Finland: 3rd
Sweden: 10th
Norway: 11th
USA: 13th
UK: 18th

https://www.numbeo.com/quality-of-life/rankings_by_country.jsp


World happiness report:

Finland: 1st
Denmark: 2nd
Norway: 3rd
Sweden: 7th
UK: 15th
USA: 19th

https://en.wikipedia.org/wiki/World_Happiness_Report

GDP per capita:

Norway: 6th
USA: 10th
Sweden: 15th
Denmark: 19th
Finland: 24th
UK: 26th

https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita

Poverty:

Norway: 0.2%
Finland: 0.2%
Denmark: 0.5%
UK: 0.7%
Sweden: 1%
USA: 2%

https://en.wikipedia.org/wiki/List_of_countries_by_percentage_of_population_living_in_poverty

Income inequality:

Finland: 3.9
Denmark: 4.0
Norway: 4.1
Sweden: 4.6
UK: 5.4
USA: 9.4

https://en.wikipedia.org/wiki/List_of_countries_by_income_equality

Life expectancy:

Sweden: 82.7
Norway: 82.4
Finland: 81.7
UK: 81.2
Denmark: 80.8
USA: 78.9

https://en.wikipedia.org/wiki/List_of_countries_by_life_expectancy


World education rankings:

Finland: 3rd
Norway: 12th
USA: 17th
Sweden: 19th
Denmark: 24th
UK: 25th

https://www.theguardian.com/news/datablog/2010/dec/07/world-education-rankings-maths-science-reading


World ranking of countries by IQ:

Norway: 100
UK: 100
Finland: 99
Sweden: 99
Denmark: 98
USA: 98

https://iq-research.info/en/page/average-iq-by-country

Crime rate:

Finland: 22.75
Denmark: 24.72
Norway: 33.51
UK: 43.64
USA: 46.73
Sweden: 47.21

https://www.numbeo.com/crime/rankings_by_country.jsp


World Health organisation ranking of health systems:

Norway: 11th
UK: 18th
Sweden: 23rd
Finland: 31st
Denmark: 34th
USA: 37th (Privatised healthcare system)

https://en.wikipedia.org/wiki/World_Health_Organization_ranking_of_health_systems_in_2000


Unemployment rate:

USA: 3.5
UK: 3.8
Norway: 4.0
Denmark:  4.8
Sweden:  6.3
Finland: 7.2

https://en.wikipedia.org/wiki/List_of_countries_by_unemployment_rate


Homicide rate per 100,000:

Norway: 0.5
Sweden: 1.15
Denmark: 1.2
UK: 1.2
USA: 5.3

https://en.wikipedia.org/wiki/List_of_countries_by_intentional_homicide_rate

Incarceration rate per 100,000:

Finland: 51
Sweden: 59
Denmark: 63
Norway: 63
UK: 140
USA: 655

https://en.wikipedia.org/wiki/List_of_countries_by_incarceration_rate

Infant mortality rates per 1000:

Finland: 2.3
Norway: 2.6
Sweden: 2.9
UK: 4.3
Denmark: 4.4
United States: 6.5

https://en.wikipedia.org/wiki/List_of_countries_by_infant_mortality_rate

[Baofeng]

Every reply here has been about investing in "bitcoin"...

Even $1200/$1400 in BTC now is not going to get you any real gains? CMON.. BTC would have to hit say $300,000 to get anything that would at least support you for at least 6 months.. forget "life changing money".

Let's say BTC is $60,000 end of March... It hit's $200,00 end of year maybe... That's only 3.3x or something. Turning your $1000 into $3000 or so.?

Right, but you can still manage to make some money investing on bitcoin.

Much better in a lower cap or mid cap like Eth, Ada, UNN

But it's more volatile than bitcoin I would say, hard to say what the price will be in the future as investors might shift to bitcoin when they saw that it is on a super fast rally. Just look at the previous stimulus package and what it should be worth by today if you invested on bitcoin.

[wxa7115]

I don't think the effect would be seen now. Besides even if they spending power increases, it would lead to inflation, and less money to spend on crypto trades, methinks

Inflation means big spending as well. Inflation occurs when people have too much money and they can afford to pay for assets that are not essential. So there is a real chance that some people who were initially hostile to the idea of cryptocurrency may go for it. I believe large number of individuals in the United States are about to get their stimulus cheques very soon. It will be having an immediate impact on the cryptocurrency market in the form of increased purchases of BTC.

This is already happening, I remember seeing a graph that monitored how many purchases have been made with the same amount of dollars that was given as stimulus to the US population and as you may guess there was a tremendous spike every time the US government gave those stimulus check to their population, which means that bitcoin has been benefiting from those policies in a very direct way.

And not only that as governments keep printing money this benefits bitcoin over the long term as well as inflation begins to impact the country and the price of everything begins to go up and only hard assets like bitcoin keep up with the inflation causing even more people to come to this market to protect whatever wealth they have left.

[proudhon]

Spending sound USD fiat money on unsound crashing bitcoin would be a bad idea for anyone getting a stimulus check. The best thing to do is put the check into a safe, insured, low yield savings account. Over the long term it will do better than bitcoin.

[carlisle1]

When the American population begins to receive a stimulus, it will have a sizeable effect on the price of Bitcoin. Because with a pandemic situation like now, people are more careful about spending the money they have.

Most of them are broke, and they needed this money personally. Maybe for some they'll be able to think out of the box and invest, but

for most them, they'll going to keep the money as reserves and for paying bills.

And the news regarding the price of Bitcoin which continues to rise, has become a hot topic on the internet for the last few months. This is why Americans who receive the stimulus will likely choose to invest in Bitcoin.

Likewise, there are some that will bring their received  money into investment, and with Bitcoin's popularity it will one of those options for them.

Therefore, the target price for Bitcoin to reach a price of $ 100k this year is very achievable, if it is true that many Americans are buying Bitcoin.

If does, then it's not impossible to see the growth up to this level as flowing money coming from those who are hopeful to succeed

will help this industry to prosper.

[STT]

I was wondering what effect you think this will have on Bitcoin over the coming days,

Buy the rumour sell the news, when the law is actually passed and in effect is not when the market moves but in anticipation is when you must decide how this will influence price and asset quality under this change.   Its kinda universal rule that acting now would be after the fact really, the market can still be surprised or unaware of an outcome but most of the time any free market works always in anticipation of effects.

My take on 1.9tn is it makes the dollar weaker, most actions by government work to consume more then they produce where as people and private business is a producer and government is the tax on that productive capacity.  1.9tn represents something of a tax, the market likes weaker dollar as it provides cheaper currency at this time under easy monetary policy.  The overall effect on economies is negative as it detracts from capitalist enterprise in favor of cheaper money and centralised government spending, that influence makes the individual weaker though some might gain from its benefits obviously those not able to work for one reason or another.
   This is politics unfortunately many will disagree but DXY or dollar index generally gets weaker and the point Im making is this bill was on the cards for months hence dollar already fell; now it might rise possibly confusing as that is.