Government Spends Equivalent Of Entire US Student Debt To Rally Stock Market For 15 Minutes

| Educate!

Above Photo: Feature photo | Tom Greene, the Vice President of Building Operations at the New York Stock Exchange, rings the opening bell, March 13, 2020. Mark Lennihan | AP

The money spent was equal to the total amount of US student debt, more than twice as much as the Wall Street bailout of 2008 and nearly 30 times the net worth of former New York mayor Michael Bloomberg, the richest man to ever run for president.

  • voza0db

    Awesome news!

  • voza0db
  • ANTONIO

    MONEY. Money also serves as a means of circulation. Whereas before its was merchandise = merchandise (barter)now we have merchandise = money = merchandise. The amount of money necessary to fulfill the needs of mercantile circulation is determined by the total prices of all merchandise in a particular year. If the amount of paper money is greater than the mount of gold required to cover its price necessary for commerce, paper money is devalued. For example, if merchandise require 1 million gold units and the State emits 2 million in paper money, the bills are worth half of what is printed on them. After the First World War paper money suffered great instability, and lost value. This is known as inflation, which affects workers who are getting paid the same, but can do less with the same salary. Inflation is a kind of hidden tax. Money is a means of accumulation. Those who are rich have accumulated a lot . In buying and selling on credit, money fulfills the function of a means of payment. Credit allows the society to reduce the amount of cash in circulation. In commerce between countries money fulfills the role of world money.

    LAW OF VALUE. In mercantile production the exchange of merchandise is ruled by the socially necessary (hourly labor unit cost) work invested in that production. Each worker works in isolation from the others, with the aim of the market, but without knowing ahead of time what the demand might be. The equality between demand and supply, under conditions of anarchy of production, can only be established as a consequence of market fluctuations. This causes price to be separated from value,sometimes more, sometimes less. If the offer is greater than the demand, prices fall below their value, if the demand is greater than the supply, the opposite happens. Prices tend to balance out with their value, if the price of a piece of merchandise is greater than its value, production increases, increasing the supply making the price lower to its value, thus balancing out.

  • Howard

    Keep in mind that when Kelton says “the government creates money” it is the big banks, JP Morgan Chase, CITI Bank, Goldman Sachs, who run the Fed and they run the government, select our leaders, control public policy and direct the entire economic development of society choosing what news stories appear in their media. For OUR government to actually create the money as a debt-free asset for the general welfare of we the people, we will have to elect one. As Jill Stein said in 2012, “These are not OUR wars, this is not OUR economy and this is not OUR government.” It is time to make it OUR government and pass the NEED Act HR2990 so we can respond effectively the this multi-dimensional crisis. Greens say, “Greenbacks to the rescue, only this time ban bank created money.”