Fri, 29 May 2020
It keeps getting better. Japan announces a $1.1 trillion bailout plan, which equals 40 percent of their GDP. The EU just announced an $826 billion liquidity plan. Lufthansa gets $10 billion bailout offer but doesn’t like the strings that came with it. Economies around the world are starting to reopen. Korea is having issues. In the US and elsewhere things are going pretty well. No vaccine or cure coming soon, but not being able to reopen assures an endless depression. However, the debt continues to increase geometrically. Stagflation seems to be the most likely result, but we could encounter a hyperinflationary bubble. You can create the illusion of health and normality by increasing debt, but is the latest debt enough to do it? The next year is going to be really interesting. If we don’t go back into lockdown, we’ll see how everyone handles the increased debt burden. Corporations have been on a borrowing binge this last month. They maxxed out their credit lines and issued new bonds to cover the difference. |
Fri, 29 May 2020
Everyone talks about the homeless crisis but few people try to do something about it. Michael Fischer has started the Central Park Civic Association to mobilize the community to rescue the City and the homeless who are the victims of misbegotten political policies that only act to encourage more homelessness. He's dedicating his life to get the parties together to come up with common-sense solutions that will help communities and get real help for the homeless. It's not a question of money, it's already being spent. It's a question of political will and sound policy. The homeless problem is not an economic crisis, it's a national mental health crisis and until we recognize this fact and start humane institutionalization it won't be solved. Count us as major supporters to Michael's and our hope is that this will turn into a national movement that forces our leaders to lead and actually solve the problem. |
