The Federal Reserve Board has announced this morning that it will provide $2.3 trillion in loans for a combination of small and midsize businesses and U.S. city and state governments.
The Fed also said it would expand previously announced corporate lending programs to include some classes of riskier debt that had been excluded.
This continues a stunning amount of money printing by the Fed.
It is just remarkable that anyone could think there is not going to be accelerating price inflation on the other side of this lockdown.
And I note, hardly anyone is warning of such in mainstream financial television or newspapers.
Remember this down the road.
They promote Keynesian nonsense with near-zero understanding of how the economy really works.
-RW
Borrower is slave to the lender. Debt is slavery.
ReplyDeleteTime to end slavery once and for all and forgive debts and make debt illegal. Call it what it is....slavery.
Free the slaves and make it illegal!!!
The slave masters are desperately trying to get people to extend their slavery by borrowing more. Loans are nothing except a slave contract.
Do we need to fight another Civil War over this?