Re:One way to fight a coronavirus recession: $1k for every A...
by neltnerb on Monday March 16, 2020 @02:43PM
(#22595947)
For context, the US has 330M people. So $1k per person is a $330B expense.
The Fed, which has no legislative oversight on this kind of thing, lowered interest rates to 0% and is buying $700B of treasuries to stabilize the banks. So you know, only twice that much authorized to make things marginally better for banks and the stock market.
So I think maybe pretend that it was actually $2k per person. Other than losing your job this seems like a reasonable amount to hunker down and not eat out or go to events for 6 weeks. But if you lose your job long term... I think the effect is going to be much longer than a few weeks of people working from home.
The Fed, which has no legislative oversight on this kind of thing, lowered interest rates to 0% and is buying $700B of treasuries to stabilize the banks. So you know, only twice that much authorized to make things marginally better for banks and the stock market.
So I think maybe pretend that it was actually $2k per person. Other than losing your job this seems like a reasonable amount to hunker down and not eat out or go to events for 6 weeks. But if you lose your job long term... I think the effect is going to be much longer than a few weeks of people working from home.