Comment Re:You can't live below your means (Score 1) 86
> radical increase in legal wage floors
The Federal minimum wage remains unchanged.
Notice how I didn't say anything about the Federal minimum wage?
30 states + DC (basically, the blue ones) have implemented minimums of $15 and higher, some of those nearly doubling their previous $8 rates.
Pls, show me where QE or QE-like policies were implemented in 2001? The Fed rate was cut, but they didn't print money like drunken sailors in 2008, 2010 (less so), and 2012. What incompetent wastrel was president each of these times, again? I'm not even arguing 2008 due to the crisis (I still disagree with it, but my job isn't to get re-elected either). But democrats perhaps need to stop trying to print themselves out of every crisis, maybe?
I don't get your point about qe vs money to 'ordinary people'? I prefer NO increase in M1 no matter in whose pockets it lands. Whether it's largesse to billionaires or 'hardship checks' to 200m 'ordinary' people, THAT INCREASES INFLATION.
And no, it WAS $1trn, or as close as matters:
I see:
1) (CARES Act, 2020): Up to $1,200/adult + $500/child. Total: ~$300b.
2) (Dec. 2020 / Consolidated Appropriations Act): Up to $600/adult + $600/child. Total: ~165b.
3) (American Rescue Plan, 2021): Up to $1,400/person incl dependents Total: ~$410b.
I callt it about $900b, the GAO tallies $931 billion across roughly 165 million recipients
(https://www.gao.gov/products/gao-22-106044)
This is DIRECT PAYMENTS to people.
Stupid Keynesians actively validating the damned gold-bugs.