October 3, 2022

MAHARREY: Inflation Alert! The US Government Remains Handing Out COVID Money and It Wants More

It’s clear that the “fiscal authority” (the federal government) does not have any intention of “covering existing fiscal imbalances. ” In fact , the plan seems to be to spend more money and create more debt. Any excuse will do, including the pandemic that ended more than a year ago.

Do you know the Biden administration continues to be handing out COVID-19 stimulus money?

Actually there are still billions of dollars within pandemic aid sitting in a variety of federal and state government balances waiting to be handed out.

Just last week, the particular Biden administration announced $1 billion in federal scholarships for “ manufacturing, clean energy, farming, biotech and more. ” The money will be doled out to 21 regional relationships throughout the nation.

According to the  AP , the money comes from  Biden’s $1. 9 trillion coronavirus relief package   dubbed the American Save plan passed in 03 2021

The US government showered more than $7 trillion in stimulus money to the US economy during the outbreak — most of it made out of thin air. Now, greater than a year later, stimulus cash is still dripping into the broader economy, even as Americans labor under the weight of pumpiing. And there is more money in the pipeline.

For instance, only 12% of the $122 billion American Rescue Program money earmarked for education  has been spent . States and school areas have until the end of 2024 to spend that cash. And according to Treasury Department figures, state and local governments have only spent about $70 billion of the $350 billion allocated to all of them in the plan.

Meanwhile, the Biden management is  pushing to get more COVID cash . Simply last week, the White Home released a “ supplemental” emergency spending request totaling $47. 1 billion. The proposal included more aid for Ukraine and “ $22. 4 billion to hide ongoing needs associated with the COVID-19 pandemic. ”

In other words, even as the Federal Reserve is raising rates of interest to fight inflation, COVID-era inflation is still dripping in to the economy and the Biden management is pushing for more.

As  ZeroHedge   place it , “ The issue of covid stimulus remains a key issue for the US economy for multiple reasons – First and foremost, it was the covid incitement packages that sent our own stagflationary crisis into overdrive. ”

“ While Biden and the media consistently point out initially high retail sales and low unemployment numbers as a sign that all is properly, what they conveniently ignore may be the effects of the covid money bonanza.   When you remove $8 trillions into the program in the span of 2 yrs (continuing into 2022), what you are doing is creating a massive spike in artificial requirement.   People, businesses and government agencies are going to go out immediately and spend that will money with wild reject.   By extension, that will spending will create a requirement for more workers and more tasks. However , this momentum can be impossible to maintain because because trillions of dollars are made the value of the money diminishes.   Inflation or stagflation could be the inevitable result. ”

In other words, if you’re already paying for all of this incitement through the  pumpiing tax . And the price is going to continue to go up.   As Peter Schiff explained during a recent interview , when you talk about family members struggling with inflation, they’re actually struggling with government.

“ Inflation is really a tax. It’s the way authorities finances deficit spending. Federal government spends money. It doesn’t collect enough taxes, so it needs to run deficits. The Government Reserve monetizes those defiticts – prints money. They will call it quantitative easing, but that’s inflation. Government gets bigger and bigger, and families across America will have to bear that burden via higher prices. ”

A recent  paper quietly published by the Kansas City Federal government Reserve Bank   admitted that the central bank can’t get inflation in check when the government keeps borrowing and spending money.

“ Trend pumpiing is fully controlled by the monetary authority only when general public debt can be successfully stabilized by credible future fiscal plans. When the fiscal power is not perceived as fully accountable for covering the existing fiscal unbalances, the private sector needs that inflation will rise to ensure sustainability of national debt. As a result, a large financial imbalance combined with a weakening fiscal credibility may lead trend inflation to move away from the long-run target chosen by the monetary power. ”

It’s clear that the “ fiscal authority” (the federal government government) has no intention associated with “ covering existing fiscal imbalances. ” In fact , the plan seems to be to spend more money and create more debt. Any reason will do, including a outbreak that ended more than a yr ago.


Dr . Peter McCullough Issues Crisis Covid-19 Warning

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