The HEROES ACT- COVID Relief Stimulus Package 2.0

STG

Sparrow
The United States is lost and broken.

I've spent my entire adult life being extremely responsible financially. Never had debt. Always lived bellow my means. I've learned to live with what I need and hardly ever with luxuries.

In May I moved from a blue state to a "free" state. Found a job that pays very well, found an apartment. All while we were told relentlessly to stay home.

The time to wait is over. I've lost all faith in the system. I knew it would erode but not this fast. I'll leave a couple thousand in my bank account but every other dime is going towards assets and tangible goods.

We should have a private forum again where we can talk about this without the eyes of the public on us. Not because anything is illegal, but because we can help each other make it through this without informing a bunch of mouth breathing lurkers.
I don't pretend to know whether we will be hit with hyperinflation or deflation.

If inflation is coming you could buy assets on credit and pay them off with inflated dollars. Buy a house for $300,000 then pay off that mortgage quick as your paycheck starts coming in at $50,000 per week.

If deflation is coming you would want to sell everything you can now to stockpile cash and buy things later when the prices collapse and cash is scarce. The Great Depression was deflation. Everything was cheap but nobody had any money.

I think the safest way to go forward is to invest in tangible assets (if you can't hold it in your hand, you don't own it) while looking bankrupt on paper. That way should we navigate through this mess you won't have worked for nothing by missing out on future government cheese. You may have $400,000 in gold coins hidden away but on paper you live check to check. Now you qualify for that monthly government check that will be the national retirement system when the Millennials reach retirement age.
 

It_is_my_time

Hummingbird
It's worse than that, Blackrock is the mechanism by which they do the bailout, and consider increasing it if need be. A whole other level of government ineptitude was revealed. As far as the people are concerned, you're actually just wrong here, there is more money going to Main St (and it will likely continue) than ever before - people over the next 3-4 months will be getting 10s of thousands of dollars. They are even giving the amounts that make it stupid for people going back to work, so I'm wondering if you are even following the data.

I don't endorse much of anything the Fed does in general, but being honest, this was a forced shutdown, so it's not a classic bailout anyway, you can't have a requirement to shut down and then say too bad at the same time.
You are correct about Blackrock. People will go back to work because the unemployment will expire and they will have no choice but to go back to work.

My point is for the last 7 decades our govt. has lied their asses off to the citizens of this nation. They have destroyed our quality of life. The future of this country looks very grim to say the least. And all the causes that lead us to this point are still in full force. Mass immigration, playing favorites, out of control govt. spending on endless and pointless endeavors, and even just giving money away to other countries. And due to this when the people need help our govt. claims they can't afford to help us. Well of course they can help us, they can help everyone else, but they choose to not do so. But even if they really couldn't afford to help us, then knock off the nonsense of handing our hard earned money away to everyone else in the world.

Hopefully more and more people realize this. That we need to demand more from our government. I was blown away when I found out citizens in France get 500 Euros a month UBI. If we got $500 a month UBI, I would already have a wife and a few kids and be able to live my dream. Our government has failed in every way imaginable and they need to be pressured by their constituents to fix it.
 

Handsome Creepy Eel

Owl
Gold Member
Hopefully more and more people realize this. That we need to demand more from our government. I was blown away when I found out citizens in France get 500 Euros a month UBI. If we got $500 a month UBI, I would already have a wife and a few kids and be able to live my dream. Our government has failed in every way imaginable and they need to be pressured by their constituents to fix it.
This is the first that I'm hearing about UBI in France. Can you provide some links?
 

It_is_my_time

Hummingbird
This is the first that I'm hearing about UBI in France. Can you provide some links?
I'm not sure where you live HCE. I am in the USA and I was floored when finding out France had a national UBI of about 500 Euros per month. I have worked myself into an earlier grave, by working weekends for the last 20 years, to make an extra $500 or so a month at a 2nd weekend job. And it has paid off. But when I heard about this and realize the govt. should be giving us this money instead of starting wars in other countries and flooding our country with welfare recipients. I am furious to think about how little the US Federal government does for the people they have ripped off for decade after decade.

It's a mistake by our friend Oberrheiner. France never had UBI, they have a Half-UBI. It is called RSA, formerly RMI.

It's free money, almost 500 euros, to prevent jobless people from going so hungry that they would cut your throat in the metro.

In reality, it's also a complementary salary for the entry-level dealers of marijuana from the suburbs.
New drug dealers make only 1000 euros per month, not enough to be happy and not cut your throats, so, the State adds 500. At 1500 euros, one is happy and one doesn't cut throats.
 

It_is_my_time

Hummingbird
@It is my time: that sounds to me more like generous unemployment benefits rather than UBI. It doesn't seem like the employed receive that.
That could be. I haven't researched it all and it might be a language/cultural difference in what I think UBI is and what France has. I don't know. I do know if we all got $500 a month for a safety net, instead of mass immigration and endless wars that take my friend's mental happiness/health/lives, then I would be a lot better off.
 

Feyoder

Robin
The treasury.
The US has money, its just not distributed properly. To put it into perspective, the Iraq War during the reign of George Bush cost 7 trillion dollars. This stimulus is barely half of that.
So that's been paid back yeah? Where is this money coming from really? Who is, is going to be paying for it?
 
So..this would mean that the govt spends more money..which they do not have....but there going to spend it anyways...which they are getting from someone..who they will have to pay back...but they cant pay it back..because they have no money...but there going to spend more money?? No wonder I dont understand economics. My question is only this how will it be paid back?
 
So..this would mean that the govt spends more money..which they do not have....but there going to spend it anyways...which they are getting from someone..who they will have to pay back...but they cant pay it back..because they have no money...but there going to spend more money?? No wonder I dont understand economics. My question is only this how will it be paid back?
Part of the creation of new money involves issuing it as a loan to a private party. Because of interest there will never be enough money to pay everything back since there isn't enough money in circulation for that. This is why defaults, bankruptcy, and recessions are all built into the system.

 

Deepdiver

Hummingbird
Gold Member
The United States is lost and broken.

I've spent my entire adult life being extremely responsible financially. Never had debt. Always lived bellow my means. I've learned to live with what I need and hardly ever with luxuries.

In May I moved from a blue state to a "free" state. Found a job that pays very well, found an apartment. All while we were told relentlessly to stay home.

The time to wait is over. I've lost all faith in the system. I knew it would erode but not this fast. I'll leave a couple thousand in my bank account but every other dime is going towards assets and tangible goods.

We should have a private forum again where we can talk about this without the eyes of the public on us. Not because anything is illegal, but because we can help each other make it through this without informing a bunch of mouth breathing lurkers.
Please advise which Free State (For opsec keep city/ town private) ... And reasons why you picked that state besides the job of course..

I live in the Free State of New Hampshire listed 6th behind Wyoming, Nevada, Montana and Florida for Quality of life. Billed the Live Free or Die state it could be renamed the Live Free and LIVE state.

Why... New Hampshire has only had 150 Covid Deaths so far 80% in nursing homes... Unlike the Gimmedats Welfare Sanctuary Harvard hates Americans state of Massdoestaxitoyou with 6000 deaths and climbing...

Why... the no English Spanglish, Chinglish, Arabic and Indus radio stations broadcast the exact steps to have immigrant mother's apply for section 8 rent 80% subsidies, EBT Snap and WIC cards to buy free food stigma free at Walmart and Target, free Medicaid health care, free transportation passes to and from work and health or Gimmedats appts, free Obamaphones and a phone book full of 501C3 Tax deductible Non Profit NGOs supported by tax deductible donations that the Billionaire classes love because it is a magnet to "Everything's Free in America" which pumps up demand for Groceries, housing, healthcare and transportation all government subsidized to 100% once said same Gimmedats radio stations and Acorn style nonprofits teach boat jobs how to game and beat the system. All the while her baby daddy works as a $25 an hour subcontractor with as little as a municipal DBA certificate or better LLC to get an EIN and be bankable... A technique (loophole) pushed by none other than BoA ... No papers no problemos.

Even weekly unemployment averages just over $300 in NH and over $700 in MA add the $600 a week Federal Covid bonus and shops in both MA and NH can't get workers to come back and risk Covid from their careless customers...

NH has high property taxes and business profits and enterprise taxes 13% combined however for less than $200 you can set up an LLC and pass through all profits to you at 0% state income tax and the LLC pays the lower Feds Corp tax rates... As for property taxes buy an agritourismo community access farm, campground or Artist Colony or Motel where the main House serves as Front desk/office and most property taxes except for your family living area deductible.

Plus New Hampshire has fresh air, a clean Oceans seacoast and pristine lakes an advantage over land locked states. Thus MA CCP virus deaths 6000 and NH only 150. MA hosts approx 20,000 mainland Chinese communist students among it's 300,000 plus annual Unis student body - a Covid cause or effect? Moral of the story you got to learn to game the system otherwise the system games you!
 
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johnnydoc

Newbie
Second relief stimulus bill coming America's way, also known as the Heroes Act!

House to vote on Democrats' $3T coronavirus 'HEROES' aid: Stimulus checks, money for states, rent assistance


https://www.nbcnews.com/politics/co...rus-heroes-aid-stimulus-checks-money-n1207816

Main components of it.

1) 1 trillion dollars to states

2) Additional $1200 per person.

3) $1200 per child

4) $10,000 given to students with student debt.

5) 1 year rent freeze

6) 1 year mortgage freeze

7) $1200 for illegal immigrants who have an ITIN card and pay taxes

8) 4.8 billion for COVID reasearch

9) Expand unemployment benefits until January 2021

10) Expand the SNAP program



Thoughts?
"Heroes Act" smells like propaganda. Looks like a bailout for fiscally irresponsible states and massive disincentives to resume work. Immoral to burden future generations. This is sinking us even further into massive debt at an unprecedented pace.
 

Deepdiver

Hummingbird
Gold Member
We have to take history into perspective here. The British Empire created two major trading companies and many minor ones... The most notable being the Hudson Bay company for British North America and the East India Company for the Orient to allow British Nobility, select industrialists and the City of London Rothschild financiers to profit by British Colonial enterprises.

The City of London was set up like a British Financial Vatican City to finance the expansion of the British Empire. The British had a balance of payments problem with China as they were buying so much tea. The Crown via the East India Company came up with a solution named the China Trade wherby they traded Afghan and India opium for tea hooking much of China on Opium and led to China's 100 years humiliation. The British fought the USA in 1776 and again in 1812 when they burned the White House and tried to seize they Port of New Orleans to control the Mississippi Trade and stop the USAs westward expansion.

They ran into Andrew Jackson who kicked their butts out of the Mississippi delta. Jackson became President and dissolved the CoL supported US Central Bank at the time and issued currency direct from the US Treasury with no Central bank leeches charging usury interest... Railroads and steel boomed along with many industries fueling USA expansion westward. This incensed the Crown and City of London though British entities made fortunes trading US grown cotton and Tobacco (British American Tobacco still exists). Then along comes the US Civil War and the Queen Victoria and her ministers and CoL see an opportunity to finance the Confederacy in hopes of the South rejoining British North America ginig them a monopoly on CSA Cotton and Tobacco.

Lincoln financed the North's victory buy issuing Greenbacks direct from the US Treasury as CoL USA bonds were not an option. Again no US Central Bank and Railroads, Steel and Electricity US innovations caused a US industrial innovations revolution. This further incensed the Crown and CoL.

JP Morgan's father was a CoL bonds trader selling various British Empire bonds issues to Wall Street tapping into massive new USA wealth. There were several notable financial panics after the Civil War and JP Morgan with his CoL contacts hatched a new Central Bank ... A private consortium of CoL affiliated US (((Banksters))) with the innocuous name Federal Reserve created under cloak of extreme secrecy on Jekyl Island resort in Georgia which passed Congress in 1913 by the OG globalist President Wilson. Reference The Creature of Jekyl Island by G. Edward Griffin who has done a number of presentations now on YT.

The British then got bogged down in WW1 thinking it would be a short war and decided to drag their new financial Colony the USA into the war to defray the costs in men, blood and costs. The war saw accelerated innovation in artillery, machine guns, tanks, aircraft, ships and submarines and chemical weapons and defense. The beginnings of the US military industrial complex. The Brits and French urged their US financial Colony to agree to the onerous reparations forced on Germany which ravage poverty and the Weimar hyperinflation on Germany to thwart the Bolsheviks but resulted in that NAZI rise to power and an enormously expanded US MIC all financed by the Fed and CoL.

Then came the cold war and proxy wars to contain communist expansion across the globe all financed by the Fed via Congress and the US Treasury. Nixon abandoned US Bretton Woods agreements with the USD pegged to gold and fiat dollar value collapse continues to this day.

So what is the solution... Simple really, Nationalize the Fed and return the 100s of Billions of annual Fed % skim to the US Treasury to benefit the US people rather than the CoL Rothschild and CFR Rockefeller (((Banksters))) cartel. US banks would have to return to financing US industry like Lincoln's greenbacks did along with financing real estate and infrastructure with plenty of cash now available for 90% Federal and 10% state splits that built the US interstate highways and bridges after WWIi.

Withy plenty of Education grant money issued to all students who maintain a B average or better.

Eventually the Fed would be phased out with money created directly by the Treasury with the people owning all of the bonds and assets being bought by the Fed with the people benefitting instead.

Other innovation could be expanded by severely limiting law firms from buying up patents including so called design patents and suing every successful small biz innovators forcing them out to Shenzhen China to innovate. Of course expanded Chinese Tarrifs and low taxes would encourage supply chains return to the US and perhaps Canada and Mexico under USMCA with US Banks now eager for their business rather than Fed and Treasury bonds arbitrage borrowing 0% from the Fed and buying Treasury bonds.

Lastly end the short term US stock buybacks that wipe out Corporate balance sheets during market corrections i.e GE and Boeing and the Airlines etc , requiring Fed bailouts.

Savings %rates would normalize returning the USA to a sane economy rather than cradle to grave debt.


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Deepdiver

Hummingbird
Gold Member
What the Global geopolitical landscape looks like post covid 19, 20, 21...

USA/USMCA and dollar UP for next 50 years as EU and CCP China dis-integrate due to corrupt incompetent and evil response to Covid 19 ... Since the Beijing answer to the world and Brussels answer to Southern Europe was literally phock off and die the Covid backlash in supply chains repatriation and Super Anglosphere anchored trading block as UK dumps sinking EU Globalists Titanic and is thrown a lifeline to rejoin British North Amaerica (Canada-USMCA) along with 5 Eyes members Oz and NZ... Who the US will forgive as the Anglosphere ends its 40 year tryst with it's mistress whore Communist Red China saying the sex was great but the Covid STDs are deadly.

Blowback is a beatch.

Venezuela turns into new Biafra as Oil demand collapses, Persian Gulf Chaos and Nigeria/Africa chaos continues...

Central South America thrive based upon how well they integrate trading relationships with USMCAnglosphere trading blocks as Latams growing youth demo shifts more manufacturing with growing young labor pools as China 30 year 1 child policy decimates CCP demographics. Nordic and Southern Europe also re-trade with the Mega USMCAnglosphere global trading block after being told to foff and die by the Brussels 4th Reich. Russia Saudi oil conflict escalates with Saudi kingdom flooding Russian islamostans with ISIS diversity enrichment... Putin pulls a page from his Cechnyan annihilation playbook and crushes the Islamostans and Mecca and Medina while the Anglosphere clutches their pearls... After CCP Covid backlash plays out Irony is future for China follows Hong Kong and Taiwan free markets playbooks.

Brilliant Peter Zeihan interview:

 
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kel

Kingfisher
That's incredibly optimistic. I hope you're right, but I can't be anywhere near that optimistic.
 
Pelosi's bill has $600 per week going on until 2021. That's more than many workers make. It could be to rely on the government.

That being said, the national debt is rising and neither party does a thing about it.
 

Hindu Man

Newbie
Big changes could be coming for student loan borrowers

When Democratic presidential candidates Bernie Sanders and Elizabeth Warren dropped out of the race, it seemed that proposals to tackle student loan debt would go away, too.

They haven’t. Between the impact of the coronavirus pandemic and a growing sense that there’s something broken with how the U.S. finances higher education, plans to deliver relief to borrowers are taking off.

It’s unclear if Republicans in the Senate will support that long of a reprieve, said Mark Kantrowitz, a higher education expert. “But, given that 2020 college graduates are graduating into the worst job market ever, I think an extension is likely,” he said.

Meanwhile, new federal student loans will come with historic-low interest rates – 2.75% for those disbursed after July 2020. Currently, rates are between 4% and 6%.

“In the private student loan market, the most vulnerable borrowers are going to be the hardest hit,” said Seth Frotman, executive director of the Student Borrower Protection Center.
Calls for widespread student loan forgiveness are mounting.
The HEROES Act would cancel $10,000 in student debt for economically distressed borrowers.
Democratic presidential candidate Joe Biden has said that he would forgive undergraduate federal student loan debt for borrowers who attended public colleges.


Under the HEROES Act, people with private student loans would also get their monthly loan payments covered by the government until September 2021 and $10,000 of their debt forgiven.

Biden also joins a growing chorus of Republican and Democratic policymakers who want to allow student loan borrowers to discharge their debt in bankruptcy. Borrowers now have to exhibit a “certainty of hopelessness” to walk away from their student debt in court.

Federal Reserve Chairman Jerome Powell has said he can’t think of a reason why the loans are treated differently than other types of debt in bankruptcy.

Student loan borrowers deserve a fresh start, Kantrowitz said.

“Credit cards can be discharged, but not student loans?” he said.

Consumer advocates have expressed concern over the fact that private student loan borrowers haven’t received any relief during the pandemic, save for some accommodations by individual lenders. The $130 billion student loan market is up more than 70% over the last 10 years, and has recently outpaced the growth of auto loans, credit cards and mortgages.




The U.S. Department of Education already has said that due to the public health crisis, federal student loan borrowers don’t need to make payments on their loans until at least October. And during that time, no interest will accrue.

House Democrats, in their $3 trillion HEROES Act, are pushing to extend that break for another year, until Sept. 30, 2021.



Just forgive all student loans, simple way to boost the economy and overall productivity.

Yes, it is irresponsible for someone who studied useless subjects like art history or literature to be no longer responsible for paying back student loans. However, higher education should not be a business in the first place. It should be free or dirt cheap.

The Anglo-Saxon 'business' view on higher education is the issue. US/UK/Australia/Canada fail in terms of efficiency with innovation, research and technology compared to Germany.

The German university model should be followed. Technical University of Munich (TUM) is a world class university and does not charge any tuition; TUM should be the ideal model, not Harvard/Columbia/Yale/Stanford/LSE/Oxford/Cambridge/etc.

My 2 cents
 
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Hindu Man

Newbie
Heck, even Denmark/Norway/Sweden (if I'm not mistaken) and Austria do not charge university tuition fees.

Is the University of Vienna or University of Oslo significantly less prestigious (in terms of quality of education and job placement after graduation) compared to average money-making/for-profit universities in the Anglo-Saxon world?

For example, University of Vienna (Austria) versus University of Florida (US) or University of Liverpool (UK). Lets say an MBA program.

Our society has been brainwashed to believe an education from Austria is inferior to one from the US/UK.
 
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