“I think he wants to break the stranglehold of the Fed Put, and it’s a very difficult job and he’ll probably fail at it, but if he can succeed in maintaining the shrinkage of the balance sheet, and never go back to the zero-bound, and if that’s his legacy? And we get rid of those two, ZIRP and QE, throw them out of the toolbox forever? To me, that’s one hell of a legacy. Good for him.”
Ben Bernanke on monetizing the debt, 2012
No, that's not what is happening, and that will not happen. Monetizing the debt means using money creation as a permanent source of financing for government spending.
Florida couple charged with more than $2M in COVID-19 relief fraud A southwest Florida couple has been charged with stealing more than $2 million in COVID-19 relief funds and using the money to buy boats, new businesses and other luxury items.
You know their big mistake? Stealing more than $2 million.
The SBA states that PPP loans with original principal amounts less than $2 million (in combination with any affiliate loans) will be deemed to have made the certification in good faith.
This for some reason reminded me of our anti-science government:
DOL and OSHA, as well as other federal agencies, are working diligently to encourage COVID-19 vaccinations. OSHA does not wish to have any appearance of discouraging workers from receiving COVID-19 vaccination, and also does not wish to disincentivize employers' vaccination efforts. As a result, OSHA will not enforce 29 CFR 1904's recording requirements to require any employers to record worker side effects from COVID-19 vaccination at least through May 2024. We will reevaluate the agency’s position at that time to determine the best course of action moving forward.
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