Tulsi Gabbard details UBI plan for crisis

[baseline bum]

https://www.youtube.com/watch?v=XpoPIAmDF8o

[boutons_deux]

We can't have Medicare for All because white people don't want to pay for black health care

UBI has the same problem

[Pelicans78]

It will help Syria when she joins Assad’s cabinet.

[baseline bum]

$1.5 trillion to the banks yesterday... that would have paid for this UBI for 4.5 months.

[TeyshaBlue]

Give this a read BB.

https://slate.com/business/2020/03/federal-reserve-bond-market-wall-street-trillion.html?fbclid=IwAR3duRCceAmBIzaXl0WCYFiadto klfdOjbrgOtYfYfM4bCVIot-SzhwruZc

[spurraider21]

derp is going to love socialism now

[Winehole23]

Give this a read BB.

https://slate.com/business/2020/03/federal-reserve-bond-market-wall-street-trillion.html?fbclid=IwAR3duRCceAmBIzaXl0WCYFiadto klfdOjbrgOtYfYfM4bCVIot-SzhwruZcSo what's the probable size of the subsidy?

[ChumpDumper]

Good kickoff for her third party run for president.

[boutons_deux]

Fed has been pumping $10Bs into the repo market for months. Why?

and now the health crisis hits.

[ElNono]

Give this a read BB.

https://slate.com/business/2020/03/federal-reserve-bond-market-wall-street-trillion.html?fbclid=IwAR3duRCceAmBIzaXl0WCYFiadto klfdOjbrgOtYfYfM4bCVIot-SzhwruZc

It's the priorities Teysha, and the sheer amount. It doesn't matter if it's short term, long term, the liquidity is as good as money in our system.

Like I was saying earlier, an actual National Emergency releases $50 billion for the entire population, but if the banks are hurting, there's a 1.5 T insta-bailout? Are the banks really leveraged that badly in debt? Shouldn't we be doing something about it?

How about the small-medium business owner? He's going to have to go to the bank and the bank is going to take a cut, why not cut the middle-man there? It's an exceptional time, an emergency.

[Spurtacular]

derp is going to love socialism now

Lite lashing out cos he doesn't want common sense socialism when it's needed the most. :lmao

[spurraider21]

:lmao derp wants socialism because tulsi said so

surprised it didnt even take a sweaty workout video

[Spurtacular]

:lmao derp wants socialism because tulsi said so

surprised it didnt even take a sweaty workout video

Stop lashing out, Lite. What exactly do you have against her proposal?

[Winehole23]

Derp sez: it's common sense socialism.

It ain't worker control of the means of production, but in this case, I agree with him.

[TeyshaBlue]

It's the priorities Teysha, and the sheer amount. It doesn't matter if it's short term, long term, the liquidity is as good as money in our system.

Like I was saying earlier, an actual National Emergency releases $50 billion for the entire population, but if the banks are hurting, there's a 1.5 T insta-bailout? Are the banks really leveraged that badly in debt? Shouldn't we be doing something about it?

How about the small-medium business owner? He's going to have to go to the bank and the bank is going to take a cut, why not cut the middle-man there? It's an exceptional time, an emergency.
As I understood the article, it was more about shoring up treasuries...which the banks, among others, use as debt leverage. The spectre of another 2008 recession/meltdown is certainly especially dangerous to small/med business and indavidual consumers when credit disappears.

[boutons_deux]

As I understood the article, it was more about shoring up treasuries...which the banks, among others, use as debt leverage. The spectre of another 2008 recession/meltdown is certainly especially dangerous to small/med business and indavidual consumers when credit disappears.

yep, 2008 was called "repo crisis", credit unavailable, so it's worrying that Fed has been already deep into the repo cash flow since September?

[Winehole23]

As I understood the article, it was more about shoring up treasuries...which the banks, among others, use as debt leverage. The spectre of another 2008 recession/meltdown is certainly especially dangerous to small/med business and indavidual consumers when credit disappears.During the 2008-9 panic you argued for front-loaded stimulus, straight up checks to ordinary folks.

Any reason that wouldn't be appropriate now? I get that the Fed is taking its lender of last resort responsibility seriously, but like El Nono said, if measures like this are necessary to avoid systemic financial.collapse, direct, robust fiscal stimulus belongs in the conversation too.

[TeyshaBlue]

yep, 2008 was called "repo crisis", credit unavailable, so it's worrying that Fed has been already deep into the repo cash flow since September?

Yeah. That's definitely a concern. I need to study that angle next.

[TeyshaBlue]

During the 2008-9 panic you argued for front-loaded stimulus, stright up checks to ordinary folks.

Any reason that wouldn't be appropriate now? I get that the Fed is taking its lender of last resort reaponsibility seriously, but like El Nono said, if measures like thisnare necessary, robust fiscal stimulus belongs in the conversation too.

Oh, my argument for a front loaded stimulus package is still valid and I'm still a fan.

[spurraider21]

Stop lashing out, Lite. What exactly do you have against her proposal?
not much tbh. i think there should be UBI for everybody earning under a certain amount (or in the alternative, have the minimum wage be a living wage).

its just hilarious how left wing you become just because tulsi says it.

[baseline bum]

not much tbh. i think there should be UBI for everybody earning under a certain amount (or in the alternative, have the minimum wage be a living wage).

its just hilarious how left wing you become just because tulsi says it.

You means test UBI and you're never getting it through in this crisis. It has zero chance happening if you deny it to the middle class. Just view it as a temporary subsistence level income for the poor as our economy is about to be trashed and temporary stimulus for everyone else to try to prop the economy back up. Just keep it simple like Tulsi is proposing.

[spurraider21]

You means test UBI and you're never getting it through in this crisis. It has zero chance happening if you deny it to the middle class. Just view it as a temporary subsistence level income for the poor as our economy is about to be trashed and temporary stimulus for everyone else to try to prop the economy back up. Just keep it simple like Tulsi is proposing.
i agree with that

i was speaking on a more broad, long term approach

[baseline bum]

i agree with that

i was speaking on a more broad, long term approach

It's not time for a long term approach IMO, all that matters right now is minimizing deaths in this pandemic. And I think it is very possible if we're on the brink of a crippling recession and when we see a huge gain in corona positive Americans soon. Bush did it on a smaller scale 12 years ago and this is a crisis orders of magnitude worse than the 2008 crash.

[spurraider21]

It's not time for a long term approach IMO, all that matters right now is minimizing deaths in this pandemic. And I think it is very possible if we're on the brink of a crippling recession and when we see a huge gain in corona positive Americans soon. Bush did it on a smaller scale 12 years ago and this is a crisis orders of magnitude worse than the 2008 crash.
man, i forgot about those stimulus checks

[ElNono]

As I understood the article, it was more about shoring up treasuries...which the banks, among others, use as debt leverage. The spectre of another 2008 recession/meltdown is certainly especially dangerous to small/med business and indavidual consumers when credit disappears.

Yup, it's federal money backstopping banks' liquidity. I understand that's important we don't add a financial crisis on top of the current crisis. However, I'm disgusted with the fact that I don't see similar help for the population at large, not from the government, nor the private sector (which will make good use of that federal money to make more money in this time of crisis).

[Spurtacular]

not much tbh. i think there should be UBI for everybody earning under a certain amount (or in the alternative, have the minimum wage be a living wage).

its just hilarious how left wing you become just because tulsi says it.

Her solution is based upon keeping order and stability during a pandemic. Let's not pretend it means more than that.

[Spurtacular]

man, i forgot about those stimulus checks

What stimulus checks?

[Spurtacular]

Derp sez: it's common sense socialism.

It ain't worker control of the means of production, but in this case, I agree with him.

You're a socialist. Lite isn't.

[rascal]

Tulsi 2024