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by stingraycharles 1360 days ago
From that perspective, anything always ends up in the top of the top of megacorps, and I find it not a very compelling argument to not help people just because they’re at the mercy of megacorps.

You want to tax these megacorps additionally yes, especially if they’re profiting from the current situation. But at the same time, it’s also important to redestribute that wealth towards those who have the biggest problems right now.
2 comments
vladimirralev 1360 days ago
With handouts, you only redistribute the wealth for an instant and you need to keep printing to sustain it. On top of that, the stability of this system becomes dependent on active approach of handing out money (i.e. tight dependency on central government).

And I am not saying not to help the poor people. I am saying printing money doesn't help poor people, it helps the rich. If you want to help poor people like I said you can tax the excess, or you can provide a specific minimal food/energy/shelter. But again, handing out money for free only helps the top of top.

As a side note, you know a lot of the poorest people in EM and frontier markets save money in USD either to escape their own inflating currency or as a dollar peg in their country. These people are poor and suffer the inflation in global markets, but they do not benefit from the US handouts. They can never outbid a money printer. And that's in fact the likely cause of the riots across the world in countries that don't have swap lines with the Fed.

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babarock 1360 days ago
Megacorps will get away with keeping their prices this high, as long as the gov keeps funding these "relief" payments.

It's using taxpayer money to artificially maintain prices high.

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stingraycharles 1360 days ago
But we used taxpayer money to first inject trillions into the top of the economy. And then when the inevitable happens, we can’t just throw our arms in the air “because inflation!” — that’s a great way to make sure that the bottom of the economy will suffer tremendously due to all this.

Because their income hasn’t increased nearly as much as the amount of inflation that occurred.

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