“Amazing” Hypocrisy: Democrats Make Wreck of Covid-19 Relief Negotiations Matt Taibbi
This is very good news for folks who own stocks, bonds, investments, assets, real estate, the rich, Wall Street, and people who are friends of our nation’s central bank, the Federal Reserve. I expect the same members of Congress who worked on this stimulus package. They should do very well with this agreement if it passes.
The Fed has been begging Congress to provide lots of stimulus. Now that it appears Congress will not, the Fed will reach into it’s “tool box” and could very likely use much more QE (eternal ZIRP is already a given) – which is basically a welfare program for rich asset holders. In the Fed’s eyes, if Congress does not step up with more stimulus, then it has no choice but use the tools in it’s tool box to do that itself, with more QE1.