[ExI] Summer weather and COVID-19

[Stathis Papaioannou]

On Mon, 25 May 2020 at 00:21, spike jones via extropy-chat <
extropy-chat at lists.extropy.org> wrote:

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> *From:* extropy-chat <extropy-chat-bounces at lists.extropy.org> *On Behalf
> Of *John Clark via extropy-chat
> *Sent:* Sunday, May 24, 2020 7:01 AM
> *To:* ExI chat list <extropy-chat at lists.extropy.org>
> *Cc:* John Clark <johnkclark at gmail.com>
> *Subject:* Re: [ExI] Summer weather and COVID-19
>
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> On Sun, May 24, 2020 at 9:03 AM spike jones via extropy-chat <
> extropy-chat at lists.extropy.org> wrote:
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> *> **We point out the obvious to those who would loan the Fed money: this
> is a risky investment and getting more so.  You might never get your money
> back.*
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> >…That will never happen simply because unlike matter, energy and momentum
> money is not conserved. The Federal Reserve has the legal right to
> effectively create money from nothing…
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> Ja, we know it well: the print more money argument.  If they do that, then
> those who lent real money are paid back in play money, diluted currency.
> They will not do that again.  This is a strategy that can be used only once.
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> >…And whatever the dangers that immediately printing vast amounts of new
> money may be they are trivial compared to the dangers of not doing it…
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> Plenty of lenders are coming to that realization.  The ones still lending
> to the US are clearly not dealing with reality.
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> >… In the last couple of months the income to 40 million American families
> has dropped to zero and they've also lost their health coverage during the
> worst pandemic in a century that has already killed 100,000 Americans with
> no end in sight…
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> Ja, so now the fed’s revenue drops dramatically.  How are they going to
> cover that?
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> >…and all those unemployed people are not going to just die quietly…
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> That’s right.  They are saying to hell with the government, we need our
> jobs.  What are they going to do, arrest everyone?  Then what?
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> It has been interesting to watch in California.  The fed has chosen to
> stand down on the stay-home business, the state government has mostly
> stepped aside.  Counties are still making demands, but cities are generally
> not following.  I haven’t heard of sheriffs making arrests over businesses
> which refuse to close.  At some point, economic reality demand it: the show
> must go on.  We have bills to pay.
>

The businesses will not stay open long without customers, afraid of a
deadly disease or afraid to spend money because their jobs or investments
are in jeopardy.

> Schools: many questions there.  Few solutions.
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>
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> >…If the federal government refuses to create money and give emergency aid
> to the
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> American people then the federal government will not be around for much
> longer…
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> John, was it not you who said we don’t need a militia?  Are you still
> saying that now?
>
>…and neither will the constitution. I don't know what will replace it but
> it won't be pretty.  John K Clark
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>
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> Sounds like you and I eventually converged in our vision of the future.
> The difference is that we disagree on whether the print-more-cash notion is
> a solution.  I say it isn’t.  It has been tried before.  Things went
> badly.  My suggestion is to cut federal government to match government
> revenue.  You are right: that won’t be pretty.
>
>
>
> spike
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>
-- 
Stathis Papaioannou
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