The Panic of the Elites

[kentuck]

It wasn't the coronavirus that panicked them so much. It was the uncontrollable drop in the stock market. They tried every trick in the book and nothing worked. People had zero faith in the markets.

The Fed put one and half trillion dollars into the market and it had an impact for about an hour. Then it disappeared. They promised unlimited resources to protect it.

As the epidemic continued to explode and fears mounted, they decided that it was more important to get back to work and save the market than to save the lives of Americans. They said it would be elder Americans, mostly, that would die, but data suggest that many victims of the scourge are between 18-40 years of age.

Then they rushed thru a two trillion dollar emergency bill to save the economy, to save Wall Street. They compromised and gave hundreds of billions of dollars to help workers with unemployment and other assistance. They gave assistance to hospitals and community health centers.

But the epidemic continued at its own pace. It didn't give a whit about the stock market or the panic of the wealthy. It attacked capitalism and capitalism had no response. They even thought of shutting down the stock market to prevent further freefall.

Just this morning, the new unemployment figures came out. More than 3 million jobs were lost in the last couple of weeks. But the market went up for a couple of days, with the insertion of trillions of dollars more into our economy. Can this type of "socialism" save capitalism?

There is fear on Main Street but there is panic on Wall Street.

[Jamastiene]

1. The rich care about their money only.

They know there are so many of us under them working our asses off on any given day, to make them richer.

In this situation:
If we are not working, they are not getting richer.

So, Trump will most likely get his Easter wish, all of us out there spreading this virus with each other and whoever survives will work harder knowing there will be fewer jobs than there once were, all to make him and his rich cronies richer.

Trump will get his wish. It'll work like clockwork too, because for most of us, reality sets in and we realize we don't make enough to save enough to be able to afford to follow this "social distancing" isolation protocol, that would be best, much longer.

Rent is still going to be due in most places and bills still need to get paid, because the rich want their fucking money. Damn our health and our lives. As long as they get their precious fucking money.

[OldBaldy1701E]

2. Let them try

I cannot wait to see 400 people trying to force several hundred million sick people to give them something they do not have. I also hope they think they can try to displace several hundred million people. That will just bring revolution. And it is looking like that is what it will take. (What am I saying... the sheeple of this country will do their masters bidding because they have been programmed to do so.)

[klook]

4. They want OUR money.

And, thanks to the Republicans, they’re getting it: first the tax cut boondoggle and now this. At least there was some for workers, thanks to Democratic action.

[OldBaldy1701E]

3. Great post

I would like to clarify one thing. It wasn't that 'It attacked capitalism and capitalism had no response', it was that 'It attacked capitalism and capitalism showed it was not geared for any kind of response to a situation like this'. You know, when reason, compassion, and ethical behavior was expected. They have never done this before, why would we ever start thinking that they would now?

[LiberalBear]

5. Let me splain this to the "greedy marker makers"

So let me attempt to splain this in terms the money grubbing, prosperity gospel following, "right to lifers" can understand. Do you remember the 2007-2008 crash induced by a glut of bad mortgages? The way we saved the banks was we instituted a program that did little to protect any american from foreclosure but was successful at slowing the rate of foreclosure over time (insert her rate of infection) such that the banks balance sheets would not be swamped with garbage debt all at once (insert hospitals swamped with infected people beyond their capacity to provide even the most basic of care). So maybe if the idiot Trump and all his "life lovers" think of hospitals as banks and infected patients as bad mortgages, we can move past this stupidly and get about the business of making our country whole again.