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Drudge Retort: The Other Side of the News
Tuesday, May 05, 2020

The US has said it wants to borrow a record $3tn (2.4tn) in the second quarter, as coronavirus-related rescue packages blow up the budget. The sum is more than five times the previous quarterly record, set at the height of the 2008 financial crisis. In all of 2019, the country borrowed $1.28bn.

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That's a lot of Rubles.

#1 | Posted by REDIAL at 2020-05-04 06:48 PM | Reply

Clever they are doing it at the same time they are driving the interest rate negative.

decrypt.co

#2 | Posted by Charliecharles at 2020-05-04 09:18 PM | Reply

Free fall. When the music stops. There will be no bottom. Total collapse of the currency and everything. Cool.

#3 | Posted by Effeteposer at 2020-05-04 11:39 PM | Reply

And the vast majority of it was handed to corporations while those who'll be stuck holding the IOU (the people) were given crumbs to nibble.

#4 | Posted by jpw at 2020-05-04 11:57 PM | Reply

yeah...they've said that before...
and I know, we've never been in this
deep before, but I can't count how many
times I've heard, "Start stacking silver!",
and yet, silver never goes on it's run...

I think that the financial system stopped
working 'normally' a long time ago. There is
too much money and too much vested interest
into keeping Wall Street going. Too many Fat Cats
that would get hurt.

The real question is, when America falls on its face,
will the rest of the world finally say this time,
enough is enough, and switch over to a different
BRICK nation's currency as the standard, like the Yuan...

If THAT day ever comes...Goodbye America, hello 3rd World
Banana Republic...

#5 | Posted by earthmuse at 2020-05-05 08:06 AM | Reply

Congress, Making Austerity Great Again.

#6 | Posted by sitzkrieg at 2020-05-05 11:13 AM | Reply

Don't worry, don't worry, don't worry!

I got the fix!

How about more tax cuts for the rich!

#7 | Posted by ClownShack at 2020-05-05 11:16 AM | Reply | Funny: 1

How about more tax cuts for the rich!

#7 | Posted by ClownShack at 2020-05-05 11:16 AM | Reply

As if there is another option you silly little man.

#8 | Posted by Scotty at 2020-05-05 12:47 PM | Reply | Funny: 2

Where's the Tea Party? Why aren't they in the streets protesting this outrageous spending that's ballooning the deficit and national debt? Oh, that's right, the POTUS isn't a black Democrat, he's an orange GOP ------ stain. Proof once again that GOP hand-wringing over spending and the deficit has ALWAYS been nothing more than rank hypocrisy. It's all about priorities; Dems want more money and health benefits to go to the poor and middle class, the GOP sheep must demonstrate this outrage! The GOP wants more money to go to 1% and for the poor and middle class to have no health coverage, the GOP sheep are just fine with that.

#9 | Posted by _Gunslinger_ at 2020-05-05 01:10 PM | Reply

Boomers spend.

Millennials pay.

#10 | Posted by Sycophant at 2020-05-05 02:13 PM | Reply

Just suspend all social security retirement checks for the next 10 years.

#11 | Posted by Sycophant at 2020-05-05 02:16 PM | Reply

Can someone explain this?

If the US simply printed 1 trillion dollars it was destroy the dollar. You can't flood the market with a trillion dollars.

But, you can borrow a trillion dollars and flood the market with it.

Printing it out of the blue seems better...no interest and, since it wasn't borrowed, no need to pay back.

If it was loaned, where the hell was one trillion dollars sitting?

#12 | Posted by Petrous at 2020-05-05 06:30 PM | Reply

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