[ExI] Summer weather and COVID-19

[spike at rainier66.com]

From: extropy-chat <extropy-chat-bounces at lists.extropy.org> On Behalf Of John Clark via extropy-chat



 

> Ja, so now the fed’s revenue drops dramatically.  How are they going to cover that?

 >…The Federal Reserve will cover the shortfall by using its superpower to create money…John K Clark

 

The real tragedy is that the Federal Reserve’s superpower is creating money rather than creating wealth.  If they can only create money, the screw the very most vulnerable among us: the poor, the citizens of foreign nations which use US currency as their only real money, pensioners on a fixed income without the option of returning to the workforce.

 

There is good reason why they can’t just print money based on nothing.  We can’t manufacture wheelbarrows fast enough.

 

spike

 

 

 

 

 

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