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What's this "where money printer" meme about?
(lemmy.world)
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this post was submitted on 04 Jun 2024
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Shitposter who’s trying to make us forget about the massive tax breaks to the rich Trump handed out while he was driving record inflation.
The PPP (Paycheck Protection Program) was a huge giveaway that was partly bipartisan. Except Trump wouldn't allow proper oversight, so of course it was abused.
There’s also the quantitative easing that happened under Trump. Normally I wouldn’t criticize the POTUS for something the fed is in charge of but Donnie cried about the fed potentially raising interest rates his entire term which kept them from doing so. That left the fed with no tools but to spin up the money printing machines when Covid hit.
This seems like the most straightforward answer so far. I was hoping it was talking shit about Tether or something. (Ok, to be fair I didn't really think it was likely, but I hoped.) But thanks for the response.
You might know that nearly-all of the US currency was created very-recently...
You might know that when you double the amount of currency, you halve the value of each unit of that currency ( this is the essence of "inflation" )
The money printer is essentially how the US has been "managing" its economy: print money REALLY fast, & hope that nobody notices while the shell-games go on, changing ownerships, rigging corporations, etc...
but when it all comes crashing down, then .. accountability will just go POOF!, same like usual, with institutional-authority..
https://forexsignalsystemtrading.blogspot.com/2020/11/100-years-of-debt-in-half-year.html?m=1
Scroll-down a bit, & see the graph with the pale-blue color on it.. look at that graph, which shows how the amount of US money in circulation nearly-doubled in 2020..
The lead line in that article is important, too: 100y of debt gained in 1/2y.
Corrupt authority, both private & public, won't ever tolerate either accountability or responsibility..
it's the others who will be forced to pay, of course..
However, misregulation, disregulation, & bald-faced corruption do make the damage happen faster.
_ /\ _
PS: I'd left this implied, but it ought be explained..
IF the current-powers-that-be can just print money to make a fake "good economy",
THEN why can't we do so, too?