Quantitative easing is epic scale theft by the rich

[Chew Toy McCoy]

Remember the theory of trickle-down economics and how if you let the rich and corporations have more money they’d gladly share it with those under them when in reality it only trickles down for about 5 seconds when a major recession manufactured by the rich causes some worker unrest?

Well, that simply wasn’t good enough. Enter quantitative easing where the federal reserve printed trillions of new dollars and then handed it to these exact same assholes as if they’ve been good stewards of the economy.

But illegal immigrants.

 

[SuperMatt]

Remember the theory of trickle-down economics and how if you let the rich and corporations have more money they’d gladly share it with those under them when in reality it only trickles down for about 5 seconds when a major recession manufactured by the rich causes some worker unrest?

Well, that simply wasn’t good enough. Enter quantitative easing where the federal reserve printed trillions of new dollars and then handed it to these exact same assholes as if they’ve been good stewards of the economy.

But illegal immigrants.

Since this is MLK Jr. Day, perhaps you’d like his thoughts on the topic as well. Do NOT believe the fake version of King put forward by today’s right wingers. They intentionally try to create a version of him that agrees with their point of view. The fact is, if you read any of his speeches, he would disagree with basically everything the GOP is doing today.

While America refused to do anything for the black man at that point, during that very period, the nation, through an act of Congress, was giving away millions of acres of land in the west and the mid-west, which meant that it was willing to under gird its white peasants from Europe with an economic floor. Not only did they give the land, they built land grant colleges for them to learn how to farm. Not only that it provided county agents to further their expertise in farming and went beyond this and came to the point of providing low interest rates for these persons so that they could mechanize their farms, and today many of these persons are being paid millions of dollars a year in federal subsidies not to farm and these are so often the very people saying to the black man that he must lift himself by his own bootstraps. I can never think ... Senator Eastland, incidentally, who says this all the time gets a hundred and twenty-five thousand dollars a year, not to farm on various areas of his plantation down in Mississippi. And yet he feels that we must do everything for ourselves. Well that appears to me to be a kind of socialism for the rich and rugged hard individualistic capitalism for the poor.

Full speech:

https://gphistorical.org/mlk/mlkspeech/mlk-gp-speech.pdf

He‘s denouncing systemic racism, and quantitative easing appears to be a part of it too. Most wealthy people are white, and policies like that give more money to already wealthy white people.

 

[Chew Toy McCoy]

Since this is MLK Jr. Day, perhaps you’d like his thoughts on the topic as well. Do NOT believe the fake version of King put forward by today’s right wingers. They intentionally try to create a version of him that agrees with their point of view. The fact is, if you read any of his speeches, he would disagree with basically everything the GOP is doing today.



Full speech:

https://gphistorical.org/mlk/mlkspeech/mlk-gp-speech.pdf

He‘s denouncing systemic racism, and quantitative easing appears to be a part of it too. Most wealthy people are white, and policies like that give more money to already wealthy white people.

Makes me think about how not too long ago “hard work” just meant rolling your covered wagon out a couple hundred miles and going “Mine!” I realize there is hard work after that and many still fucked it up, but it’s a really nice FREE STUFF start, especially how property and home ownership is getting the spotlight to being the key to wealth for generations.

An even lazier and more recent version of that is all the plots of land in the middle of my city that were essentially neglected weed fields for most of my life. Then along came the Silicon Valley and those long time weed fields are transforming into high end condo or retail space and I’m sure that land either got bought or leased for a fortune, and I wouldn’t even call it just a small fortune. It's a fortune. In this case the “hard work” was simply not doing a damn thing with that land until a boom market came banging on your door.