Record government and corporate debt risks 'tipping point' after pandemic passes

[Zorro]

The United States is embarking on a rapid-fire experiment in borrowing without precedent, as the government and corporations take on trillions of dollars of debt to offset the economic damage from the coronavirus pandemic.

The federal government is on its way this year to spending nearly $4 trillion more than it collects in revenue, analysts say, a budget deficit roughly twice as large relative to the economy as in any year since 1945.

Business borrowing also is setting records. Giant corporations such as ExxonMobil and Walgreens, which binged on debt over the past decade, now are exhausting their credit lines and tapping bondholders for even more cash.

To support such borrowing, the Federal Reserve has dropped interest rates to zero and added more than $2 trillion of loans to its portfolio in the past six weeks — as much as in the four years following the Great Recession.

https://www.washingtonpost.com/us-policy/2020/04/18/record-government-corporate-debt-risk-tipping-point-after-pandemic-passes/

[lark]

1. "Risks", my ass.

This is a planned venture in establishing a rw fascist government by destroying a liberal constitutional democracy. PUtin advised drumpf how to use this to destroy the working class and poor in America, steal all our money, and give it to himself and the other rw fascist oligarchs. He is destroying us on purpose so he can declare a financial disaster and steal all the funds from Social Security and Medicare, end free public schooling, end all environmental and labor laws including min. wage and 40 hours work week and child labor laws as well, disallow any form of contraception, and end all government rules on healthcare which of course would entail ending Medicaid, ACA and the CHIP programs. The more of us are sick, the bigger the pandemic, the larger the rw force will be that will bring guns to the election, cause panic and kill us so that drumpf declares martial law and stops the election. Once that is done, he will take everything else from us, all the things I named above. SCOTUS will co-sign everything he does with 5-4 rulings because they too are evil fascist Russian Repugs who are trying to implement a government of and for the olgiarchs with nothing at all for anyone else.

WE must rise up in mass, walk through broken glass, thoroughly gear up and plan to be in lines for 8+ hours if needed. I will be bringing a small stadium chair and a fully charged Kindle, wearing a mask and gloves if I can't vote early voting as usual. I also promise to make GOTV calls through the auspices of FL Democrats as soon as it's safe for me to be retrained and get new access.

[2naSalit]

2. +1

[2naSalit]

3. The thing that matters most to them is monetary power.

If we take the economy away from them, they lose. And all we have to do is stay home until election time, if that's what it takes.

We can build a new economy after we defeat the two viruses. And it can be far more equitable than what they have in store for us. There is no "going back to normal'. There is only moving forward into a new mode of living that can include a new economic structure..

[Skittles]

4. they could use all the massive tax giveaways to the rich RIGHT ABOUT NOW

FUCKERS