To some people's surprise, it's not just your neighbor that fell on hard times during this pandemic that is currently waiting on a $1200 stimulus check from the Fed and Uncle Sam. In the current state of our economic world, even many of the top institutions on the economic ladder have become either dependent or addicted to constant stimulus and corporate welfare being given to them.
This really shows when you see just how many of the benefits of the Cares Act for example went to Wall-Street and many other well off institutions, rather than to evenbMain-Street.
According to Reuters (this article and other articles being mentioned will be linked to below), many Wall-Street traders and investors are waiting cautiously to see when the next Stimulus package will arrive from Congress. Of course this also means that little actions are being seen at the moment when it comes to the Stock Market.
Across the ocean, many of the Asian Markets are also waiting to see what comes out of the deal behind the Stimulus Package as for example Tokyo's Nikkei's Index had shed 0.4% to 22,438.61 as a result of the anxious vigilance over Capital Hill.
When it comes to the crude market, small gains have been seen as the price of U.S. crude gained $0.20, to $42.39 a barrel.
If this current dependency on what basically amounts to Monopoly Money doesn't ring trouble to anyone at the moment, maybe you'd want to reconsider such a view once we start seeing cases of High Inflation. Remember after all, more money was printed in June than in the first 2 centuries of the US's founding.
The cost of these checks will come one way or another, and let's hope that those that would be most affected by such a downturn will be prepared. But that can only come by understanding what is really going on in the world.
Articles Cited: https://www.reuters.com/article/us-global-markets/stocks-slip-as-markets-await-u-s-stimulus-idUSKCN2513C6
https://apnews.com/b8e4b24269fb3e05109049b103dd44b3
https://www.thenation.com/article/economy/bipartisan-cares-act-unemployment/
https://cointelegraph.com/news/us-printed-more-money-in-one-month-than-in-two-centuries/amp
That check, if it comes will be held hostage by the democrats if they don't get what they want.
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