{"id":55975,"date":"2020-12-12T07:01:44","date_gmt":"2020-12-12T12:01:44","guid":{"rendered":"https:\/\/olduvai.ca\/?p=55975"},"modified":"2020-12-12T07:01:44","modified_gmt":"2020-12-12T12:01:44","slug":"handout-economics-bizarre-new-game-played-by-governors-and-mayors-nationwide","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=55975","title":{"rendered":"Handout Economics: Bizarre New Game Played by Governors and Mayors Nationwide"},"content":{"rendered":"
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Handout Economics: Bizarre New Game Played by Governors and Mayors Nationwide<\/a><\/h3>\n<\/div>\n<\/div>\n<\/section>\n
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\"Handout<\/div>\n

If you willingly chose to quit your paying job, spent all of your savings, then demanded that someone\u00a0else<\/em>\u00a0foot the bill for your lifestyle\u2026 that wouldn\u2019t make sense. Well, not to most people.<\/p>\n

But it sure seems like some states in the U.S. are doing that, by utilizing a form of \u201chandout economics\u201d after\u00a0voluntarily<\/strong>\u00a0choosing to shut down businesses in\u00a0response<\/a>\u00a0to COVID-19.<\/p>\n

One example would be Washington state, where Governor Jay Inslee has kept the state under various levels of \u201clockdown\u201d\u00a0since<\/a>\u00a0February 29. \u201cNon-essential\u201d business closures or restrictions resulted in record unemployment\u00a0as high as<\/a>\u00a015.1%\u00a0<\/strong>back in May.<\/p>\n

Leaving alleged Nigerian unemployment\u00a0scams<\/a>\u00a0aside, Inslee has since\u00a0demanded<\/a>\u00a0that Congress send even more money his way. Quite strange, considering\u00a0his<\/em>\u00a0decisions created Washington\u2019s worker and tax\u00a0revenue shortfalls<\/a>.<\/p>\n

In California, Governor Gavin Newsom also requested to dip his hands into the federal government\u2019s coffers. This request came to\u00a0account for the bloated<\/a>\u00a0state budget and\u00a0skyrocketing debt<\/a>\u00a0caused in part by his decision to lock down the Golden State.<\/p>\n

But to look at what seems to be a more interesting example, we head to San Francisco\u2026<\/p>\n

More \u201cMad Money Printing\u201d and the Fed\u2019s Problem<\/strong><\/p>\n

Around December 7, San Francisco Mayor London Breed issued yet another immiserating lockdown for the \u201cGolden City.\u201d She even admitted to\u00a0the impacts on Twitter<\/a>:<\/p>\n

Small businesses are closing at alarming rates. People are behind on rent. This isn\u2019t sustainable.<\/p>\n

Local budgets have been crushed by this pandemic and we\u2019re facing devastating decisions over the coming months around jobs and services.<\/p><\/blockquote>\n

As Mayor Breed should have expected, if she made the decision to shut down small businesses, they\u00a0would<\/em>\u00a0eventually close. The people that worked there\u00a0would<\/em>\u00a0become unemployed, and eventually get behind on their rent or mortgage payments. Without the added tax revenue stream, local budgets\u00a0would<\/em>\u00a0get \u201ccrushed.\u201d<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Handout Economics: Bizarre New Game Played by Governors and Mayors Nationwide If you willingly chose to quit your paying job, spent all of your savings, then demanded that someone\u00a0else\u00a0foot the bill for your lifestyle\u2026 that wouldn\u2019t make sense. Well, not to most people. But it sure seems like some states in the U.S. are doing […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[2809,18769,195,303,827,3650],"class_list":["post-55975","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bailouts","tag-birch-gold-group","tag-debt","tag-fed","tag-united-states","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/55975","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=55975"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/55975\/revisions"}],"predecessor-version":[{"id":55976,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/55975\/revisions\/55976"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=55975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=55975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=55975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}