Hacker News new | ask | show | jobs
by tangjurine 1869 days ago
Where did that money go to? To the "socialist" stimulus checks?

The majority of money printed was loaned out to banks and other institutions, which promptly put that money back into the stock market and other investments.

Think about it this way. Would you rather have your investments crash and pay the same taxes, or take the tax increase and also have your investments go up? If you would prefer the second, you benefited from the government's actions.

In fact, I feel the lower class were the ones that the government took from, in the form of impending inflation.

1 comments

Yeah, it's a loan, when you pay the loan back the money supply actually ends up contracting again and only the residual interest payments are actually added to the economy.