National Eviction Nightmare! People Chaining Themselves to Eviction Courts!

Ultimately, the evictions will be the fault of those that wanted to lock us down in the first place. Sending us back into a depression could have been avoided had our government listened to Sweden instead of contributors to the problem like Fauci saying we should start wearing goggles.

The people who pushed the social distancing, the mask mandates, the new wave of state-run authoritarianism, those are the only people responsible for these evictions. Fauci should have to personally pay out to every American he has affected with his BS. As well as Trump.

Besides, it’s a election season. Trump is tanking. What do you expect?

 

The average starting pay for entry level, unskilled labor was $10.50 an hour all the way until the recent mess, and that went up to $11.00 for front line, starting rate.

Imagine what could be earned if these people applied themselves, made themselves worth a little more in the employment marketplace, without government involvement. There is a phrase that some people need to remember "If the government can give it to you, the government can also take it away".

 

Most certainly....but I can already hear the howls of protest from certain sectors of the private sector, as they seek to protect their profits.

Hence the need for a guaranteed right of, and personal responsibility for, (above poverty) participation, according to one's ability to contribute and the needs of the community.

Yes, that's one of the drawbacks of welfare which is really only a sign of a dysfunctional system (see the 'NAIRU' concept of orthodox neoliberalism).

No doubt, but I would like to know the actual degree of satisfaction the average Chinese citizen has with the nation's economy.

I envisaged going really hard to eliminate the virus (too late now in the US).

That means a total lockdown of the non-essential economy.

That means government changing the numbers in the bank accounts of citizens so they can buy food, and pay essential bills. Inflation is not an issue in that scenario, because much of the nation's productive capacity would be deliberately idled, to save lives....

MMT's time has come, if we are to avoid a prolonged recession overshadowed by massive government debt after the pandemic has passed. And yes, money should enter the economy via wages, not welfare.

 

Even if those without food must die?

 

National Eviction Nightmare! People Chaining Themselves to Eviction Courts!

The governors caused them to lose their jobs. They should hire them. What they did was wrong and even authoritarian.

 

How big of a problem you reckon starvation is in America?

 

If our Right wing types want to help, push their Republicans in the Senate to pass the Heroes Act.

Of course, they don't and they won't.

But that does put paid to the lies.

 

Whoops.

 

That doesn't seem to contradict what I said.

Are you talking about a Nancy Pelosi that didn't pass the Heroes Act?????

Because if you're in an alternative Universe, that would be good to know.

 

So just to be clear, if the United States printed and issued 100 Trillion dollars today, the value of money wouldn't change? Meaning, the cost of a loaf of bread would remain the same as before the issuance?

 

People in the rust belt didn't vote for Trump because "they aren't doing well". Who ever told you that lied to you.

 

Maybe we should shut down more businesses and send more jobs to China! WalMart was allowed to stay open while mom n pops selling the exact same crap had to shut down.

Lets say you have rental property and need it for your own family. You want to close eviction courts?

 

State dictators caused this by saying businesses had to shut down. Landlords have to pay property taxes water and electric bills. If their properties are foreclosed on these people will still be evicted.

This is a nasty position, the easiest resolution is end all lockdowns immediately.

 

Smithfield Farms kills more hogs a year than any other pack ing plant in the world and is owned by China, so it makes sense that Ch8na would send some of that meat to China.

 

No. That would cause inflation, because there would not be sufficient resources/goods/services for the government to purchase, with that amount of money.

But the fact remains: for the sovereign currency-issuing government, the inflation constraint is an available resources and productive capacity constraint, NOT a money constraint.

In this age of AI and IT, the economy's productive capacity of all firms and available labour is readily tabulated.

Now, at the start of the pandemic, the federal government (but not state governments) COULD have easily locked down the entire non-essential economy for 6 months, until the virus was eradicated, and spent say $5 (or $10) trillion on food, rent, mortgages, and utility costs, without borrowing the money from private sector financiers, to enable non-essential workers to stay home during the pandemic.

IOW, the accumulated rescue 'debt' could be simply written off - after the pandemic - by treasury and reserve bank, since the resource constraint was never an issue (apart from needing to eat less meat, perhaps....)

That is what is meant by government having access to 'unlimited' (national) currency.

As an aside: eg, if it became urgent to exit the fossil industry, the government could marshall $50 trillion of the nation's productive capacity to transit from fossil to green, without borrowing the money from the private sector (though government might need to constrain/divert private sector consumption, via taxation).

 

Inflation is the constraint.

This is precisely what happened to Venezuela. Their currency has no value. People are starving and rioting.

I agree with your concept that the government isn't like a household budget, but that doesn't change the fact that balancing the value of dollars in circulation with the nation's wealth is imperative.

Inflation is often used as a mechanism for economic development and is the basis of most "stimulus", but the economic growth must exceed the inflation to make it worth it.

 

Correct, but you (mis-) understand the term inflation from the obsolete neoliberal monetarist viewpoint.

Neoliberalism deliberately denies the capacity of the (sovereign currency-issuing) public sector to create money alongside the private sector, albeit subject to the inflation constraint.

As reported by another correspondent in the MMT thread;

"The educational foundation has not been laid (to understand MMT). Not one person in 100 -- maybe not one in 1000 -- understands how the debt money system turns any economic difficulty into an emergency, and a crisis like COVID-19 into a global economic catastrophe. This is not an accident. Bankers do not want people to understand the debt money system, and have made sure that they do not:

“It is well enough that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” -- Henry Ford .

You of course are one of the 999 people noted above, ensuring (in an earlier generation) Ford's status as the wealthiest man in the US, .while his thugs were sanctioned to murder his workers in the GD. (see "Ford massacre")

I already explained what happened in Venezuela.

OTOH, the US, Britain, Japan, Australia, etc have diversified economies that can survive the crash of a given commodity. (Note: EU nations, who have given up their own currencies in favour of the Euro, are in an even more difficult situation in this pandemic; hence the ECB is forced to break deficit-spending Maastricht Treaty rules to keep the more indebted EU nations afloat).

Balancing with "wealth"? That should read: " balancing with available resources (inc. labour) and the nation's productive capacity. These are NEVER fully utilised in a purely profit-driven, private-sector-funded system.....see eg the NAIRU concept of neoliberalism.

Seen from your obsolete neoliberal viewpoint.
Direct government-issued debt-free spending into the economy to maintain real full employment, alongside money creation in private banks when they write loans for credit-worthy customers, is always required to achieve a truly functional economy, ie, one that works for all.

 

So, nearly half of America’s full time employees make less than $8.65/hr? Where did you come up with that figure from?

 

Unfortunate, but unfortunate for landlords if they are not allowed to evict since they also have carrying costs with those properties, including many who have mortgages on them. I did see an article today that said about $500K was available to residents in our area facing eviction but I don't know if they are grants, loans, or what as I am blocked from reading the article since I don't subscribe to the local paper.

 

Umm a lot more than Moscow mitch. The dems approved a bill MONTHS ago Moscow mitch in his usual fashion chose to sit on it and felt putting in another incompetent judge last month was way more important.

 

You make it sound so easy.. what happens if you take that large loan out and all of a sudden something even beyond your control wipes you out. Now you are certainly living on the streets. That's some bad advice to give to just anyone...

 

Please go back and reread the thread so you understand what was being said. I was the one advising people not to go into debt. Then someone else said that capitalists borrow lots of money. I was simply explaining the difference between business debt and consumer debt.

My quip of " the secret of financial security" was referring to staying out of consumer debt. Again, go back and follow the points in previous posts - Post #36 and the replies that followed. Thank you.

 

Oops then I am sorry just saw the one part and was horrified lol. I had a friend who took a similar gamble he bought houses to fix up and resale but a short time after that the housing crash happened.....