Post-Stimulus, Officially A Socialist-Republic
TLDR; The bipartisan bill about to be passed is hiding Federal purchase of Corporate Bonds, Mortgage Backed Securities, and ETFs behind those stimulus checks, officially making the US by dictionary definition a Socialist Republic. They assume you will be so focused on the extra pocket-money that you won’t see what they are doing. This will stifle innovation, and only increase wealth/racial inequality/inequity in the US.
It is incredibly important that you read this, and understand what is about to be done by your elected officials. Republicans, Democrats, Independents (with some notable exceptions).
In case you are unaware, the stimulus deal about to be struck in congress will indeed give $600 stimulus checks, but it also allows the Federal Reserve to indefinitely keep the unconstitutional “special purpose vehicles” from the first stimulus bill (SPVs). This allows the Federal Reserve to buy corporate bonds and Exchange Traded Funds (ETFs), effectively guaranteeing credit/cashflow to particular favored large corporations as the Federal Reserve desires, and destroying the ability to compete for any company not listed in major ETFs.
Essentially, the stimulus checks are hush money for we the people to allow our nation to migrate from capitalism to bonafide, dictionary-definition socialism. I am not as frightened by this word as many others are, but I think it is important to recognize what is happening, and what this means. It has been the unfortunate reality that congress has picked winners and losers for some time, allowing the rich to get richer and crushing anyone who doesn’t donate to their Super-PACs. But we the people get to elect congress, we don’t get to elect the Federal Reserve.
Now, the Federal Reserve and Treasury (being partisan bureaucratic agencies) officially have the ability to pick winners and losers within our economy. The market is fixed. Innovation will be snuffed out in the name of economic “security/stability.” Monopolies will run rampant, the rich get richer, the poor get poorer. Democrats should be outraged at the inequity/poverty/wage-slavery this will cause, Republicans should be outraged that these blatantly unconstitutional concessions passed bipartisanly with little pushback. BOTH SIDES have taken advantage of a crisis to willingly destroy the free market.
What companies succeed or fail is now entirely decided by two white male investment bankers, two white male (and one white female) university professors, and two white female career bureaucrats.
If Progressivism is regression, we’ve got it. If Conservatism is fiscal irresponsibility, we’ve got it.
On a lighter note, how will you spend your hush money?
Article from r/Libertarian: For a Free Society