Friday, March 12, 2021

Wall Street is OK with the $1.9 Trillion "Covid-19 Relief Bill"

 The Dow Jones Average reached a new high after Biden signed the bill yesterday.  Of the $1.9 Trillion bill only 10% of the money does anything for Covid-19 work.  The rest of it goes to favorite Democrat programs, like the National Endowment for the Arts.  

   The US GNP is only a bit more than $17 Trillion, so this Covid-19 Relief Bill equals better than 10% of the entire GNP.  The money will simply be printed, debasing the currency, and creating inflationary pressures.  Everything will be a little more expensive due to Covid-19 Relief.  

Not to worry says Wall Street. 

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