Opinion | Main Street Needs More Fed Help

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From WSJopinion: The Main Street Expanded Loan Facility is wrongfully prioritizing preventing losses over rescuing the economy, write Glenn Hubbard and HalScott_HLS

The U.S. economy is in free fall. Leading economic forecasters predict as much as an 11% year-over-year decline in second-quarter gross domestic product.

Small businesses—those with under 500 employees, which constitute 50% of the workforce and 44% of GDP—have closed their doors and are teetering from illiquidity to insolvency. Depression is around the corner. The priority should be to get funds to these firms to avoid disaster. Unfortunately, the Main Street Expanded Loan Facility, designed by the Treasury and Federal Reserve, will fail to do so. It wrongfully prioritizes preventing losses over rescuing the economy....

 

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opinion HalScott_HLS Travesty and Americans are the victims continuing to be stepped on by those with hidden agenda - only it's pretty obvious.

opinion HalScott_HLS Hereby call for investigation into the modeling and those who acted on it with such aggression. Missed the mark by 180,000 deaths mid April. Fraudulent death certificates, fake science, crooked politicians now looking to save face

opinion HalScott_HLS The Main Street Expanded Loan Facility is wrongfully prioritizing preventing losses over rescuing the economy' Just like d GFC when Obama bailed out the banks n GM but home owners lost their mortgage

opinion HalScott_HLS Oh please. You guys don't give 2 shits about Main Street. That was proven by the way you invested that tax return money in share buybacks instead of in the American worker and American manufacturing!

opinion HalScott_HLS How about Main Street pull itself up by the bootstraps? Am I right, libertarians?

opinion HalScott_HLS 1. Abolish income tax/minimum wage 2. Deregulate everything 3. Cut government spending 30%

opinion HalScott_HLS Amen...

opinion HalScott_HLS

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