Thursday, April 16, 2020

BILLIONAIRE: The Government Should Bail Everyone Out

Billionaire Expedia and IAC Chairman Barry Diller appeared on CNBC this morning and said, "everyone needs to be bailed out" in the face of the COVID-19 panic.

Of course, if you just give everyone more money, one question becomes: Where do you get it?

The only answer is that the Federal Reserve Board prints the money up and that is just like telling everyone to add a zero or two to bank accounts and paper bills. How thus that help anyone?

It just creates a very rapid price inflation.

The only way you can remedy an economy damaged by lockdowns is to open upon the economy and those most vulnerable to serious reactions to COVID-19 infection should be extremely careful or complete self-quarantine. Locking down the entire country and printing money to solve the problem makes no sense.



  1. A bailout is essentially debt forgiveness.

    That bailouts are being done in a partial manner is criminal corrupt crony kleptocratic BS.

    1. Nope. A bailout is theft from holders of cash (such as savings accounts) and dollar-denominated fixed income - i.e. the middle class, and particularly pensioners and parents saving for their kids education, - by the rich and politically connected elite.