Fed announces plan for states and municipalities.

[The Spin Meister]

For the first time ever, the Fed is offering 2.2 trillion in aid to states and municipalities to get them through this period. Assuming by buying bonds. A huge move by the Fed.

 

[LionJim]

For the first time ever, the Fed is offering 2.2 trillion in aid to states and municipalities to get them through this period. Assuming by buying bonds. A huge move by the Fed.

Whew.

 

[JoeParulz]

While they are in a giving mood, why not just fully fund every State pension to make them solvent for years to come. What the hell, a trillion here, a trillion there, what's the difference?

 

[Ranger Dan]

Anything beyond the federal budget should be supported by bonds.

 

[RU31trap]

While they are in a giving mood, why not just fully fund every State pension to make them solvent for years to come. What the hell, a trillion here, a trillion there, what's the difference?

That would be music to my ears.

 

[JoeParulz]

That would be music to my ears.

Bail out everyone and everything. Afterall the Fed has unlimited money according Chairman Powell.

 

[Art]

Dumbly and Fats want to know if PSU can get in on the deal.

 

[BobPSU92]

Anything beyond the federal budget should be supported by bonds.

Bobby? Barry? Gary U.S.? Chico’s Bail?

 

[Mile High Lion]

I want a trillion. Where is my piece of the pie?

 

[Art]

Anything beyond the federal budget should be supported by bonds.

Uh, how do you think the Federal budget is funded?

 

[Ranger Dan]

Uh, how do you think the Federal budget is funded?

Income from taxes, etc.

 

[Art]

Income from taxes, etc.

Guess you never heard of the national debt, all $23 trillion of it.

 

[Achowalogan]

Dumbly and Fats want to know if PSU can get in on the deal.

...clear path to their own pockets....

 

[Ranger Dan]

Guess you never heard of the national debt, all $23 trillion of it.

Oh, I’m aware of it. Pissed off, actually.

End the Fed and return to the gold standard.

 

[Art]

Oh, I’m aware of it. Pissed off, actually.

End the Fed and return to the gold standard.

And return to a standard of living of, say, 1910.

It's not the Fed that's responsible for the level of the national debt.

 

[RU31trap]

The Gold Standard would have some economic advantages, but as it relates to the United State that ship sailed many decades ago. One thing is for sure the deficit spending we experienced in 2008 and are about to see in 2020 would have never happened under the Gold Standard.

 

[Ranger Dan]

And return to a standard of living of, say, 1910.

It's not the Fed that's responsible for the level of the national debt.

They are responsible for printing money without end.