And only three years after forcibly shutting down millions of small businesses and doubling the country’s money supply asymmetrically with all the new cash going to middle and upper classes. What a surprise.
Specifically I’m referring to people who had stock portfolios when the government pumped up stocks.
Everybody’s income went down relative to the massive inflation, and stock porfolio values grew massively. That balanced things out for people above the paycheck-to-paycheck level, and screwed everyone below that level.
Sorta like if we said “We’re gonna take $10 from everybody, but don’t worry every pair of testicles is eligible for a $20 subsidy! It all balances out!” It doesn’t balance out at all; that would be a massive transfer of wealth from women to men.
The Covid response was a massive transfer of wealth from the poor to the rich. Probably the largest in history. And it was a vast reduction in the size of the pie, as a result of huge damage to the economy from forced business closures.
