COVID 19 and introduction of an unconditional income supplement

DennisTate · Oct 9, 2020

Finally it is possible to view several aspects of the bigger picture and see the obvious possible connections. The first thirty minutes of this forty six minute video will astonish you. I've listened to it in full and in part many times already.

FORGET IRAN, IRAQ, UKRAINE
THIS IS WHERE WWIII STARTS...

Anti-inflammatories and COVID 19?

DennisTate said: ↑

Thank you for this post. It is great to read this other angle on all this. I will try to read up on this option as well.

Oh..... although green tea and other remedies are expensive......... it intrigues me that in 2014 CIA economist Mr. Jim Rickards stated that there were two hundred and ten trillion dollars in the USA Derivatives markets.......... Derivatives are only one part of the massive Insurance Industry and yet...... three hundred and thirty million Americans are supposed to be terrified of a thirty trillion dollar national debt?????????????

The numbers there are worthy of some thought and..... this will give you an idea of what I feel is a possible logical response for the long term.........

COVID 19 and introduction of an unconditional income supplement

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(From page one of this discussion) :

DennisTate said: ↑

.... this idea of an unconditional income supplement to all Canadians that is taxable would act similar to the idea of Jubilee. If each Canadian was given five hundred dollars per month unconditionally..... there is very little need for a bureaucracy. This idea was proposed by economist Milton Friedman. This is certainly NOT merely trickle down economics but would be like side by side economics as all thirty seven million Canadians would be able to do much more to employ each other.

Israel could adopt this idea first..... if this was done in Canada many more Breslovian Chassidic Jews would be able to make the trip to visit the remains of Rabbi Nachman and put together the financing to bring his bones from Uman in the Ukraine to somewhere in Israel.

So a family of four would get an extra two thousand dollars per month and Canadians could soon pay down their high interest loans and credit cards. The COVID 19 virus is causing a huge number of us to be humbled and closer to our families much as Isaiah predicted would occur before the Era of Moshiach would begin.

.......
If my advice is unwise.... my apologies but I am going to share this to my wall to get some feedback but I am of the belief that this virus could set in motion a Bear Market, another 1929, and in my forty or so years of researching some theories on economics I am of the belief that one of the best responses to the possible economic fall out may be:

"Five hundred dollars per Canadian per month, can this work?
I am advocating the usage of the Bank of Canada that is owned by all Canadians to finance giving five hundred dollars per month to all thirty seven million Canadians.
It will of course mean much more to poorer Canadians than to millionaires........
but it could be surprising how many stay at home wives with cheap and stingy millionaire husbands who control the purse strings of the home may find this extra five hundred very helpful indeed.
I suspect that well over eighty percent of of Canadians will spend this money reasonably well and:
1. enrol their kids in more after school programs.....
2. begin to purchase a higher percentage of organic produce vs the cheap GMO stuff
3. purchase a newer car, SUV or half ton truck
4. do renovations to their homes
5. hire landscapers to do certain projects on their properties
6. pay down their debt loads, especially the higher interest ones
7. buy a new home rather than renting
8. buy a cottage outside the city so that they can get away for weekends
9. many will choose to move to rural Canada in order to escape relatively hectic city life
10. eat at nice restaurants more often
11. I also believe that a significant percentage of Canadian women who would have chosen to have an abortion under the present economic situation will CHOOSE to keep their babies as opposed to having an abortion!
I suspect that less than ten percent of Canadians will attempt to live off this five hundred dollars / month and simply use it to drink or smoke more.
To whatever degree this happens the worst cases where these Canadians put themselves and others in danger this can be dealt with by issuing food stamps vs a monthly check."

I posted this to the wall of my local Member of Parliament to give him and his boss P. M. Justin Trudeau something to think about.

https://www.facebook.com/SeanFraserMP/posts/2637804269833837
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a better world · Oct 9, 2020

DennisTate said: ↑

Finally it is possible to view several aspects of the bigger picture and see the obvious possible connections. The first thirty minutes of this forty six minute video will astonish you. I've listened to it in full and in part many times already.

FORGET IRAN, IRAQ, UKRAINE
THIS IS WHERE WWIII STARTS...

Anti-inflammatories and COVID 19?

(From page one of this discussion) :
Click to expand...

I see I engaged this thread way back in March, post #24).

Btw of course you can use that post in any way you wish!

Re WWIII; yes, with national (public) debt threatening to spiral out of control as governments are forced to rescue their pandemic-hit economies, the potential for war is obvious.

But now we know public debt is an illusion, capable of being dismissed by the 'wave of a hand' through the treasuries of sovereign currency-issuing governments (unlike private debt which must be repaid by the due date).
Central bankers want to hide this truth from the public, but the pandemic might finally expose their lies, if 2nd and 3rd waves force additional lockdowns.

But if sovereign governments CAN issue and spend their own currency into the economy - alongside private sector spending which is currently hindered by the pandemic - then an actual, operational, international rules-based system (eg backed by UNSC without veto) would be handy...for obvious reasons...

DennisTate · Jan 13, 2021

a better world said: ↑

I see I engaged this thread way back in March, post #24).

Btw of course you can use that post in any way you wish!

Re WWIII; yes, with national (public) debt threatening to spiral out of control as governments are forced to rescue their pandemic-hit economies, the potential for war is obvious.

But now we know public debt is an illusion, capable of being dismissed by the 'wave of a hand' through the treasuries of sovereign currency-issuing governments (unlike private debt which must be repaid by the due date).
Central bankers want to hide this truth from the public, but the pandemic might finally expose their lies, if 2nd and 3rd waves force additional lockdowns.

But if sovereign governments CAN issue and spend their own currency into the economy - alongside private sector spending which is currently hindered by the pandemic - then an actual, operational, international rules-based system (eg backed by UNSC without veto) would be handy...for obvious reasons...
Click to expand...

From what I hear.... we will know more about this actually being done within two weeks!

DennisTate · Nov 9, 2021

My belief is that the key is to make this Unconditional Income Supplement absolutely
unconditional..... and even cut a check for the wealthy as well....... so that there is essentially zero need for bureaucracy to go along with this idea.

This can be done along with DECREASE IN INCOME TAX as well... once MMT, Modern Monetary Theory is actually understood.

The value of the USA petro dollar is backed up by the PRODUCTIVITY OF AMERICANS and the Biden administration seems determined to greatly DECREASE the productivity of Americans.......
The same seems to be happening here in Canada as well.....

The Conservative Case for a Guaranteed Basic Income
Creating a wage floor is an effective way to fight poverty—and it would reduce government spending and intrusion.

By Noah J. Gordon

Last week, my colleague David Frum argued that conservative welfare reformers need to focus on simplification. As a young crop of conservative policymakers announce a range of proposals, there’s some movement in that direction. Florida Senator Marco Rubio’s plan would move most of America’s existing welfare funding into a single “flex-fund” to be disbursed to the states. Wisconsin Representative Paul Ryan, partly inspired by the “universal credit” reforms of Britain’s Conservative government, proposes allowing states to combine different forms of federal anti-poverty funding—food stamps, housing assistance, and more—into a single funding stream. In a recent speech about fighting poverty, Utah Senator Mike Lee told the Heritage Foundation, “There’s no reason the federal government should maintain 79 different means-tested programs.”

Meanwhile, the intellectual wing of reform conservatism likes these plans because they reduce government and offer citizens more control, at least in theory. Yuval Levin, one of the authors of the reform-conservatism manifesto Room to Grow, has praised Ryan’s plan, saying it would “give people more resources and authority and greater freedom to find new and more effective ways up from poverty.” Liberal wonks, on the other hand, have claimed it’s actually a paternalistic program at odds with the traditional Republican desire for less-intrusive government, since it relies on providers who make decisions for beneficiaries.

In any case, these ideas are circumscribed by traditional boundaries. Neither is a truly radical small-government idea alternative. But one idea that Frum highlighted is more radical: a guaranteed basic income, otherwise known as just giving people money.

The idea isn’t new. As Frum notes, Friederich Hayek endorsed it. In 1962, the libertarian economist Milton Friedman advocated a minimum guaranteed income via a “negative income tax.” In 1967, Martin Luther King Jr. said, “The solution to poverty is to abolish it directly by a now widely discussed measure: the guaranteed income.” Richard Nixon unsuccessfully tried to pass a version of Friedman’s plan a few years later, and his Democratic opponent in the 1972 presidential election, George McGovern, also suggested a guaranteed annual income.

More recently, in a 2006 book, conservative intellectual Charles Murray proposed eliminating all welfare transfer programs, including Social Security and Medicare, and substituting an annual $10,000 cash grant to everyone 21 years and older. The Alaska Permanent Fund, funded by investments from state oil revenues, sends annual dividend checks to the state’s residents. Switzerland is voting on an unconditional basic income later this year. (Though the fundamental basic-income guarantee involves an unconditional grant to every citizen, no matter their wealth or age, other versions wouldn’t cut checks to those in top tax brackets or those receiving Social Security.)
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COVID 19 and introduction of an unconditional income supplement

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