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A comment on U.S. Economy Shrinks at 4.8% Pace, Signaling Start of Recession. Parent comment

Re:U.S. Economy Shrinks at 4.8% Pace, Signaling Start of Rec... by ganeshkrishnan on Wednesday April 29, 2020 @12:34PM (#23021102)
No one knows what's the limit of "enough dollars". It's not infinite but it's very possible that enough money can be printed to provide ubi to the lowest rung of the society ad infinitum
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Re:U.S. Economy Shrinks at 4.8% Pace, Signaling Start of Rec... by lisper on Wednesday April 29, 2020 @12:53PM (#23021335)
There is no question that this could be done. In fact, I think that this is a fairly reasonable policy. It effectively amounts to a flat tax on wealth to fund UBI. Personally I would prefer a progressive tax to "flatten the curve" more at the top, but I'd settle for an inflation-based UBI.

But that is NOT what is happening at the moment. What is happening at the moment is almost the exact opposite: money is being injected mostly at the top in order to prop up asset values, with a little bit coming in to the bottom via the $1200 relief checks, and the middle via PPP.

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Re:U.S. Economy Shrinks at 4.8% Pace, Signaling Start of Rec... by ganeshkrishnan on Wednesday April 29, 2020 @05:44PM (#23024760)
That's right. Trickle down economy is not ideal. It was a worthy experiment and it has failed. It's best to give MMT a shot and provide UBI to the lower rung of the society.
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