They're Saying Lockdown Spending Erased Poverty....

They're Saying Lockdown Spending Erased Poverty....
(Jason Connolly/Summit Daily News via AP)

Some would say it’s the education system’s failings, but the view here is that confusion is a bullish signal of prosperity. Staggering amounts of it enable the kind of sloppy thinking that would be rather impolitic to express during times of relative desperation.

All of this and more came to mind while reading a Wall Street Journal account of the economic implications of the 2020 shutdowns. According to a cheery report on A1, they “threatened to ruin Americans’ finances”, but “for many, the opposite happened.” Based on this summation, Congress has a magical ability to extract resources from somewhere else not on planet earth. More realistically, for an individual to be bailed out some other individual must be bailed in, a lot or a little. Looking back to 2020, tens of millions of Americans lost their jobs amid political nailbiting that was remarkable even by Washington’s standards, not to mention the millions of businesses that saw their fortunes either severely impaired or erased altogether.


Read Full Article »

Show comments Hide Comments

Related Articles

Market Overview
Search Stock Quotes