Saturday, April 18, 2020

Is the Government About to Issue $2,000 Checks to Pretty Much Everyone for At Least Six Months?

I don't know when the deflationists are going to finally say "Uncle" but if the Emergency Money for the People Act passes, they just might. 

Zack Friedman informs:
Representatives Tim Ryan (D-OH) and Ro Khanna (D-CA) introduced new congressional legislation — the Emergency Money for the People Act — to provide $2,000 cash per month to eligible Americans until employment returns to pre-COVID-19 levels.
Emergency Money For The People Act
If passed by Congress in its current form, the Emergency Money for the People Act would work like this:
  • Eligible Americans would receive $2,000 in cash per month guaranteed for at least six months.
  • These monthly cash payments would continue until the employment to population ratio for people ages 16 and older is greater than 60%.
  • The monthly cash payments would not count as income.
  • The monthly cash payments would not adversely impact anyone’s ability to qualify for an income-based federal or state assistance program.
Who Would Be Eligible
As with the $1,200 stimulus check (Economic Impact Payment), not every American would be eligible for a stimulus check under the Emergency Money for the People Act. Here’s who would get a monthly cash payment under this legislative proposal:
  • Every American adult age 16 and older making less than $130,000 annually would receive $2,000 a month;
  • Married couples earning less than $260,000 would receive at least $4,000 per month;
  • Qualifying families with children will receive an additional $500 per child, with funds capped at a maximum of three children.
  • College students and adults with disabilities who are still claimed as a dependent would be eligible. The individual would receive the monthly payment and their parent or guardian would receive the dependent credit.
  • Individuals who are unemployed or who had no earnings would be eligible.
Individuals who were not eligible based on 2018 or 2019 tax returns could be eligible based on 2020 adjusted gross income by submitting two months of consecutive paychecks.
Does anyone seriously think that with the current money giveaways that price inflation isn't going to roar?

This new proposed giveaway would surely top them all. With current unemployment payouts averaging around $1,000 per week and with an additional $2,000 a month that would be a tax free $72,000 per year. Who would work? How would unemployment ever return to pre-covid levels? These payments could go on forever with fewer and fewer products and services entering markets. Less product and more money demand is a prescription for higher inflation.

Is a majority of Congress clueless or mad enough to pass this thing?

Hug your gold coins tonight.



  1. I think they really are that stupid! They actually are still wearing idiot masks and demanding people "socialist distance" as if coronavirus is actually deadly!

    It's not!

    Here are the results of the Stanford U corona Antibody study:

    "But it is one more piece in a jigsaw which is slowly building up a picture of a virus which may be far more prevalent — and possibly far
    less deadly — than was at first believed.

    Another day, and yet more evidence has appeared that could indicate the number of people who have been infected with SARS-CoV-2, the virus which causes COVID-19, might be vastly higher than official figures suggest. This time a Californian study suggests the figure in one county could be more than 50 times the number who knew they had had the virus.

    A team from Stanford University and other colleges recruited volunteers in Santa Clara County via Facebook adverts and produced a sample of 3,000 representatives of the county as a whole. They were then invited for blood tests to detect the presence of antibodies to the virus. The result was positive in 1.5 percent of cases. Adjusting for age, gender and ethnicity the results suggest that 2.8 percent of people in the county had already had the virus."

    In short take the number of "confirmed cases" and multiply it by 50!

    700,000 confirmed/tested corona cases in U.S. x 50 = 35,000,000 estimate number of corona virus cases in the U.S.

    You can then recalculate the mortality rate:

    35,000 claimed cornoa virus deaths in U.S. / 35,000,000 = 0.01% estimated mortality rate for cornoa

    Its far less deadly than even the flu's 0.1% mortality rate!

    We have been hoaxed out of our freedom!

    1. The best data has shown for two months that C-19 is at worse no more deadly than a bad flu season. I have been telling all I can this, even venturing on to the hated Facebook and twitter where I have encountered cognitive dissonance from relatively intelligent people. Even being blocked by when simply presenting data. There have also been some "likes" and people agreeing with my posts. This is exhausting.

  2. Oh, I think they're nuts enough to do something like this.

    That said, I guess if they're going to hand my wife and I $4000 a month, I'll use to pay my mortgage...for months. One thing inflation can't touch is my mortgage payment, so that money would be good for that.

    Otherwise, this is beyond insanity. (Oh, and I'd keep working. I can't just sit and do nothing).

  3. Don't you get it? It is scripted to happen this way. They are not stupid. They are not clueless.

  4. Listen, I hear the chow's gonna be pretty good inside the camps. Ooops, back to the basement.