We Need To Do Both

If you are confused about how to save America, you are NOT alone.  To fix this country we need to get out of this nasty rut we are stuck in ASAP.  And to do this, we need to not only reopen the country by ending the lockdowns and restrictions OR only firehose the economy with federal money, we need to do BOTH.  

Yesterday.  In fact, yesterday is not soon enough!

If we keep these restrictions for any longer while hoping to just paper over the massive holes in our economy and society with newly printed money, that will not work in the long run, as we will just keep on damaging the economy and society.  Likewise, if we attempt to reopen with a bang without injecting federal dollars into the economy, it will be a big disappointment since the damage is done and has not been repaired.  Either way, it is like pushing on a string--or like pushing an elephant up the stairs.

As we have already noted in a previous article, we can effectively end the pandemic in ONE WEEK tops without lockdowns, masks, or vaccines, full stop.  Simply send everyone an Indian-style $2 Ziverdo kit (Zinc, Ivermectin, and Doxycycline), and as Karl Denninger notes, the Doxycycline is optional and can be substituted with Vitamins C and D (and if we had our way, also add Niacin, Thiamine, and Quercetin as well).  And for the few severe or critical cases that still occur despite this, there is always the MATH+ Protocol (and even cheap steroid inhalers) to fall back on.  In fact, early use of steroid inhalers seems to reduce the number of severe cases by 90%!  Problem solved.

(In India, adding Vitamin D to the Ziverdo Triple Therapy mix is also known as Quadruple Therapy.)

Oh and by the way, did you know that we are basically at the holy grail of herd immunity in the USA (if not also globally on average) already?  Why else would virus cases be plummeting starting weeks before fully vaccinating a significant chunk of the population, in the middle of winter, even in states and countries with little to no restrictions?  Even with those supposedly scary new mutant strains allegedly running rampant for weeks, no less.  If it can't be due to seasonality, vaccines, or restrictions, then it MUST be due to naturally acquired herd immunity.   Too bad we had to climb a mountain of corpses to get there thanks to the incompetence and malfeasance of our "leaders" who suppressed the treatments and prophylaxis that actually work while throwing the wisdom of the ages out the window like so much garbage.  And that's to say nothing of all the collateral damage deaths caused by the lockdowns and panic.

(NOTE:  The sharp decrease in cases predates the reduction in the PCR test cycle threshold in many places, and was in fact followed by decreases in hospitalizations and deaths, so it can't be entirely due to sleight of hand unless one concedes that all of the data were nearly 100% false from the very start.  Either way, the case for restrictions crumbles.)

Thus, no reason not to end all restrictions and open up right away, full stop.  That is, no more restrictions than we had a year ago in February 2020, other than those that individuals and businesses voluntarily choose to put on themselves.  But again, the damage is already done at this point, even if we don't do any further damage going forward.  We must then do the Herculean task of healing the existing damage done.  Fortunately, the federal government has just the technology to do that--the printing press, or its more modern equivalent, a computer with a keyboard.  Money is simply an accounting entry these days, so make the entry and be done with it.  Yesterday. 

(And before anyone predictably cries "inflation!", the truth is that deflation is actually a much, much bigger risk nowadays in the age of secular stagnation.)

The recent paltry stimulus is just barely scratching the surface of what is needed.  We will need an ongoing Universal Basic Income for all (at least $2000/month per adult and $1000/month per child for the first three months, followed by at least half those amounts per month thereafter). We will need single-payer Medicare For All. We will need to expand Social Security.  We will need to increase funding for schools.  We will need free higher education as well.  We will need a Green New Deal to create millions of good jobs while saving the Earth at the same time.  And we will ultimately need some sort of debt jubilee as well.  Seriously, now is NOT the time to be pikers!

So what are we waiting for?

UPDATE:  As the ever-insightful Bill Sardi notes, we can now add the amino acid lysine to the rapidly accumulating list of treatments and prophylaxis for COVID-19.   It may be the biggest game-changer of all.

We Need A Debt Jubilee Yesterday

Forget a mere "stimulus", that is far too stingy to get America out of the hole we are in now.  We need a massive DEBT JUBILEE like the ancient Israelites used to do every 49 years (and frankly never should have stopped doing!), and not just for student loans (though certainly for that too). And the forgiven/cancelled debt amounts must be 100% non-taxable since we do not want to defeat the purpose of the jubilee.  So how can we do this without zeroing out everyone's bank account?  Easy, just print (or more accurately, electronically keystroke) the money.  The federal government is Monetarily Sovereign, and money is simply an accounting entry ever since we got off the gold standard on August 15, 1971.  So make the entry and be done with it.  And it wouldn't even be inflationary, since striking debt by the same amount as the amount of money creates has a net effect of zero on the money supply.  Meanwhile, removing this massive debt burden would be a massive B-12 shot for economic growth.  So even people who have zero debt and feel they have no dog in the fight would benefit from a stronger economy that is no longer weighed down by a massive collective debt overhang.

Additionally, we would also need a permanent Universal Basic Income (UBI) of at least $1000/month for adults and $500/month for people under 18 (and double those amounts for the first three months), single-payer Medicare For All, free public college for all, and things like that as well if we are to truly transcend the crisis America is in.  Again, for a fraction of the amount that the FERAL Reserve creates every year to give/lend to the big banks, we could do it without raising taxes or inflation.

As for putting Americans back to work, there are three words:  Green New Deal.  The infrastructure upgrades and changes that need to be made will create lots of new jobs. And since goods and services would by definition increase in tandem with the new money created to fund them, the net effect on inflation would also be effectively zero as well.

(Hat tip to the brilliant and wonderful Ellen Brown for pointing so many of these things out.)

That said, what we will NOT advocate is shutting down the economy again and hoping to print our way out of it.  Because deliberately shrinking the goods and services in the economy via shuttering the economy by fiat, while simultaneously printing money to paper over the hole, WILL be VERY inflationary if maintained for more than a few weeks at most.  Just ask Argentina how well their world's longest lockdown is working, with 40% inflation and a COVID death rate higher than wide-open Brazil.

So what are we waiting for?

The Ultimate Stimulus Package

Wanna know a secret, everyone?  An open secret, yet probably the best-kept one of all?  The total amount of global debt, all $233 trillion (!) of it, is 100% man-made. That's right--the very concept of debt is man-made, because money itself is man-made.  That includes both private debt as well as the public debt that the austerity hawks won't stop fretting about.  Every single penny of it.  Money is really nothing more than a simple accounting entry in a computer these days anyway.  So make the entry and be done with it already.

Wait, hold on--did he just say what I think he said?  You got that damn right, and I didn't stutter either.  The single best stimulus package that could possibly be done given the current state of the global economy is--you guessed it--a DEBT JUBILEE of sorts.  You know, kinda like the ancient Israelites did every 50 years, where all debts were cancelled and forgiven across the board, period.  The only difference today is the scale and the technology involved, and the fact that we use pure fiat currency instead of specie makes it even easier still.  So why aren't we doing it?  I mean if the world owes $233 trillion, who on Earth do we owe it all to?  You guessed it--the BANKSTERS.  And the biggest contributor to the gargantuan size of the debt (and the number one cause of inflation as well) is compound interest, also known as USURY.  So there are plenty of powerful vested interests who would oppose such a thing, and it's time to take the power back.

We could start by paying off the national debt in one fell swoop via money creation, as is recommended by Richard E. Noble.  The Noble Solution, if you will.  And contrary to popular opinion, doing so would NOT cause hyperinflation if done properly because while creating money is inflationary, paying off large debts (i.e. "debt-deflation") is inherently anti-inflationary, so the two effects would cancel each other out.  And the newly created money would be done interest-free as well.  And also give everyone $1000 or $2000 as well.  Remember, back in 2011 Bernie Sanders audited the Feral Reserve and found that they gave a whopping $16 trillion secret bailout to the banks in 2009-2010 (and later rose to $29 trillion in total).   And with that money, they could have paid off the entire national debt (below $12 trillion then) and still had trillions left over to give to We the People by depositing money in our bank accounts.  And the government would have been able to do a much bolder fiscal stimulus package since there would be no worries about the debt.  Yes, really.  And the "recession" (i.e. depression) would have ended a LOT sooner as a result.

As for private debt, an Act of Congress could conceivably be passed that nullifies all such debt as well, including (but not limited to) student loan debt, mortgage debt, credit card debt, and medical debt. Creditors wouldn't like it, of course, but debtors greatly outnumber creditors, so the net effect would be beneficial overall for society.  And repeat every 50 years or so.

Additionally, while we are at it, we should also nationalize the privately-owned FERAL Reserve and make it a truly public FEDERAL Reserve that creates its own money interest-free, as Ellen Brown recommends.  We should also put a 10% cap on ALL interest rates period, including private loans and credit cards, and eventually phase-out the very concept of interest altogether.

Also, the TSAP would recommend a Universal Basic Income Guarantee for all, an idea whose time has come and that is in fact LONG overdue.  That would solve so many problems indeed.

Now THAT would be a real stimulus package!  Not only would it act like a giant B-12 shot for the economy by causing increased economic growth in the short to medium term, but in the long run it would also help us end our addiction to growth for the sake of growth, the ideology of the cancer cell which eventually kills its host.

Remember, as Buckminster Fuller famously noted in the 1970s, there are enough resources on Earth for everyone in the world to live like a millionaire, but such resources are currently being hoarded and wasted by the oligarchs to prop up their massive Ponzi scheme.  It's time to end the current obsolete paradigm of scarcity (most of it artificial) in favor of a new paradigm of abundance for all, that we may all enjoy mutual benefit and protection.  Yesterday.

(In the meantime, though, there is always Rolling Jubilee.)