28.04.20 22:35 ET
The news today is just as disillusioning as the news when the first economic “bailout” plan passed:
After furloughing 95% of workers, SeaWorld seeks federal loan
Seriously?
Or what about this from the last PPP loan provision:
LA Lakers return $4.6 million in PPP funds to government amid coronavirus
Hell, that’s nothing. How about a non-United States based company with every ship flagged overseas getting a bailout:
Carnival Deemed Too Big to Fail, Rescued by the Fed
Mad yet bro?
Think about how it feels to run the largest banks in the United States where the U.S. Federal Reserve has now used the backs of the taxpayers to bailout the banksters just like they did in 2008? No matter how crappy their gambles, no matter how high the risk, the U.S. taxpayer bailed them out again; not just for this event, but forever.
No Junk Debt Is Too Risky: How Fed’s Bailout Changed Everything
So if the big boys gave a mortgage to an illegal it is now your children’s responsibility. If a business that speculates an internet company can guarantee a dope smoking millennial can deliver a pizza or seafood meal in 30 minutes or less, regardless of profitability, the taxpayer now has that bank’s back.
Just like the 2008-2009 finale, the American taxpayer is being told “here is your $1200 pittance, enjoy losing your home, and oh, by the way, keep paying your credit card bills to the big banks we bailed out.”
This time however, it might just be different.
How? More and more Americans who are losing their jobs are just saying screw it.
The headlines reflect it:
Share of Mortgage Loans in Forbearance Rises to 5.95%
31% Can’t Pay the Rent: ‘It’s Only Going to Get Worse’
In echo of ’08, coronavirus threatens billions in credit card losses for banks
‘The flood is coming’: Coronavirus could spur unprecedented wave of business bankruptcies
Yet the banksters and government does not see it coming. Instead, they are tightening the screws:
Mortgage forbearance part of stimulus package could turn into trap
How are landlords dealing with tenants who can’t pay May rent due to coronavirus?
It gets worse:
Credit Card Issuers Lower Credit Limits, Cancel Credit Cards Amid COVID-19 Pandemic
Thus a now devastated American public who upwards of 35 million in all probability have lost their jobs, now have their credit card limit cut unlike 2008, reducing their ability to survive, along with no money coming in as the Federal bureaucracy has delayed or screwed up tens of millions of stimulus payments and extra unemployment benefits and now the same people are asking the “citizens” who are losing it all to accept the idea of the ultra-wealthy being bailed out once again.
With no penalty for their malfeasance.
With no consequences for destroying their parents and grandparents remainder of their retirement funds of what little they had left from the 2008-2009 crash.
With no arrests, no losses, nothing for stealing from the taxpayer in 2008 or since Trump took office.
Why does this writer bring this up?
A few weeks ago on one of the huckster financial news networks, a talking head guest who was promoting their book said (paraphrasing) “…that the American taxpayer is eager to return to work, pay their taxes, and pay their debts.”
Really?
This time the idiots in charge have gone too far. This time the political elites in Congress, the Fed, the Treasury, and the corporate thieves are using the virus to distract from the final harvest. A bank theft of such epic proportions and grand design that their ideals are now being shoved down the throats of the citizens and the truly stupid will accept the fake news media’s version, while those who truly are suffering will not.
The American people have hit their limit and the elites have no clue as to the level of anger in the United States public. They will default, they will get angrier, and they will resist and defy authority; unfortunately in a manner far different from the last “crash.”
The average American individual, who has been trapped in their homes for over a month, lost their job, lost their credit line which provided them an ability to pay their necessities of food and medicine, lost their income, and will soon lose their homes either via foreclosure or eviction, is no longer going to take it. They have watched the wealthy become enriched and then fly off in their private jets to their super yachts to New Zealand to escape the coronavirus. Or worse, take a milk bath and preach to the peasants just how happy the serfs should be to be shut in while our neighbors lose everything as a Chinese Communist disease “equalizes” everyone.
This time is truly different.
Fool them once in 2008, fool them again in 2020 with better internet speeds and an improved iGadget?
No, they will not comply.
The elites are playing with dynamite, and unless they realize that with north of 35 million people losing their jobs and tens of millions more losing their businesses, it will not end with a political solution.
It will end as it began.
Like Concord.
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[…] This time the idiots in charge have gone too far. This time the political elites in Congress, the Fed, the Treasury, and the corporate thieves are using the virus to distract from the final harvest. A bank theft of such epic proportions and grand design that their ideals are now being shoved down the throats of the citizens and the truly stupid will accept the fake news media’s version, while those who truly are suffering will not. […]