Uncle Joe has spoken, and the US Treasury Department says that Americans are “entitled” to direct payments. Here’s what comes next…
(by Half Dollar) No charts today.
I mean, isn’t it amazing how much more draining it can be to say nothing than to say what you want?
That said, here’s something I can say: I remember going to those Mexican border towns in the very early 1990s before the Mexican Peso crisis and subsequent devaluation.
If my memory is still working, I recall that back then, I found it interesting that lunches would cost about 35,000 pesos at the time, which was about three US dollars, but nobody ever converted dollars to pesos back then at those touristy, shanty border towns, so aside from thinking, “wow, that’s a lot of pesos for one dang lunch”, I didn’t really pay it any mind.
Side Note: Where have all the clearance sections gone?
Now, today, in the United States, a bottle of ranch salad dressing costs about $3.50, but tomorrow, ranch salad dressing will be a luxury for the Proles, so most of them won’t be indulging.
But I digress.
This morning, I wrote about the coming, or rather, imminent, food price inflation, and since writing that article, the White House has released a bunch of talking points, facts sheets and whatnots.
Here’s pretty much all you need to know, from the very last paragraph of “Talking Points: January 22 Executive Orders – Economic Relief” (bold added for emphasis and commentary):
The all-of-government executive order, combined with the President’s historic relief package and forthcoming jobs package will help Americans persevere through the pandemic and lay the foundation for a strong and equitable recovery.
So, the entire US Federal government is hard at work making sure we don’t have a “V”-shaped recovery, nor a “K”-shaped recovery, but an “Equitable Recovery”.
And since I am indeed an expert in language, let me go ahead and translate the main point of the last paragraph for anybody who doesn’t quite understand what “equitable recovery” means:
We will lay the foundation for a major plunge in living standards where everybody loses, everything.
Or is that not what the last paragraph really means?
Regardless, isn’t it amazing, that only two days in, we’ve got gazillions of words, edicts, decrees, orders, and, like, who comes up with all of this stuff anyway?
There I go again.
But hey, even the US Treasury Department had a presser in the chute:
Households are “entitled” to relief.
There’s only one problem with that: Uncle Sam is beyond broke, so how exactly can somebody with nothing provide something?
Spoiler Alert: It’s not possible.