Looks like that like in 1930 we need big gov programs to fight unemployment again
Don’t worry. These programs are coming, more than they are enacted by now, actually.
More brrr, more subsidies, more government spending, more deficits, more debt.
We are sending our balance sheets in an uncharted territory screwing future generations because of the greed of current bureaucrats.
Yes, they are the only ones benefiting from this.
Homeowners and the unemployed are benefiting handsomely. Unemployment has never paid this much. American workers are getting paid more to stay home than they get from their actual jobs. Mortgagees are getting up to 1 year off from paying their mortgages.
In other words, many millions of people who would otherwise be squeezed into foreclosure and/or would need to seriously curtail their consumer spending are getting a long term expenses paid holiday!
Imagine what would happen if all the unemployed homeowners actually had to liquidate to cover their mortgages, as would happen in an actual free market. The entire housing market would collapse! Then we'd see banks collapsing too.
This is how you prop markets up, ladies and gentlemen.
