Could Emergency UBI Payments Help America Avoid A Recession?


Over the weekend, federal reserve announced
that they were cutting interest rates to almost 0%, a move that is exceedingly rare for the
federal reserve to do. It is basically kind of their junk shot. Right? It’s kind of the last thing that they’re able
to do. Once they do that, they’ve thrown all the
spaghetti on the wall and they got to see if any of it stuck and if not, well you just
wasted all your spaghetti. So they did this and immediately, unfortunately
stock futures plummeted. So it’s not looking like they’re cutting the
interest rates, which is the last tool they had at their disposal is going to do anything
to protect the economy or do anything to prevent the coming recession. Economists are now saying that within the
next few months we will be in a full blown recession and of course the current pandemic
is, you know, mostly to blame here or at least mostly to blame for exacerbating it. So they’re trying to figure out what the heck
to do and one of the ideas that keeps coming up that this government, at least as of right
now, doesn’t seem interested in listening to is universal basic income. Right? Andrew Yang’s whole presidential campaign,
universal basic income, and now we need that more than ever, at least on a temporary basis. And that is what you do have some economists
out there saying right now. There is little we can do to protect the markets
and to be honest, there’s little we should do to protect the markets at this point. The markets will come back. You just kind of have to wait it out. But average Americans out there, people who
get sick, people who are going to be stuck with enormous hospital bills from this, they
don’t get a bailout. Right? They don’t get a piece of that one and a half
trillion dollars that the Trump administration announced late last week. They get nothing. They may be stuck at home. You know, their employers may shut down. News reports out last night saying half of
Las Vegas is closing down tomorrow. I were talking about multibillion dollar casinos
shutting their doors because of how serious this is. Thousands of employees hopefully are going
to get paid sick leave. They’re, they’re exempted obviously from the
bill the Democrats just passed, because that only covered 20% of the American public and
we’re supposed to cheer them on like they did something good. No, now’s the time for universal basic income,
$1,000 to every single American citizen. That’s what’s needed right now. That is the only thing that can stave off
a recession is to put money in the hands of the American people who are likely going to
be stuck at home for several weeks as their places of employment shutdown. You know, their bosses tell everybody, hey
don’t come into the office anymore. Grocery stores are facing massive shortages
in food. People need to be able to survive and they
need money to do that and they don’t need to worry about losing their job or losing
their home, losing their cars, defaulting on loans, none of that. So in addition to the universal basic income,
we also need to halt student loan payments, mortgage payments. You know, all kinds of things like that so
that people do not fall too far behind. This is a national crisis and we have to take
drastic measures to help this country limp along, and to be honest, this is not without
precedent. Right? I’m sure most of us who are old enough, obviously,
remember during the Bush administration, the economy was tanking, so what did George W.
Bush do? His stimulus package, his first one. Remember that one? Every single tax paying American just out
of the blue gets a check for $300. Here’s $300 go out there and spend it. Here’s 300 bucks and people did. It didn’t really help. It was a onetime payment of 300 bucks, but
monthly payments of $1,000 could absolutely make a difference. That could prevent the economy from going
into a recession. It’s time we stopped bailing out the people
who are going to be able to weather this storm just fine and start bailing out the people
who are terrified about whether or not they’re even going to be able to pay their bills in
the next two weeks. That’s why this plan works, and that’s why
this plan desperately needs to happen.

73 Comments

  • Fuck off, peasants. Socialism is ONLY for the Oligarchs. You can eat Ramen noodles.

  • awesome content it was really good

  • mehhh…low income Americans are gonna get the usual shit sandwich as usual. Wall st. gonna get the lions share, a few small business owners gonna get some help, and rest of us just gonna be stuck cleaning the mess with no healthcare or support structure.

  • Yea socialism and government control "doesn't work" but Wall Street business always deserves a bailout after they f*** us all in the arse first

  • True but the Dipshit Donald won't do that

  • People will need more than $1000 to get through a time of NO INCOME.

  • I said this then other day, but if the Stock Market continues to drop as this Coronavirus spreads, not only will Trump have no real accomplishments going into the Election, but he will have done what took Bush Jr. 2 terms to do (tank the economy) in less than 1 term.

  • Give us free money and hope ya a thousand dollars will realy help us!!!!! Then we tax us for that but dont take a penny from a 150billion owned by one guy who is a billionaire. It isn't going to hep now and in the long run but get us to a better mentality!!!! In every occupation in us there are glitches and twists that keep the hard working man in us get rid of these things. Truck brokers are to make only 10% of the real rates and the rates should be transparency . The corporations cant just fire you becaus some stupid bod dont like you. There should be living vages,stoe giving money to Islamic dictatorial and corrupt foreign governments and go for real wars not some bullshit .health care should be part of the tax. Lazy people should be forced to work.no bullshit lawsuits to extort money from small companies.insrance companies, tole roads shou lk d be as American owned and should be caped!!! One guy cant open a bull company to teach others to make more money on real estate and monopolize the real estate industries and no monopolies period.no illegal imeration,those who employ them no mater how big rich the guy is he and his family should go to jail not the immigrants, let them know who they are employing!!!! Not some app or manager does for them.we dont need a companys so big , that the owner doesnt know there employees personally

  • The Marketdoesn't care about it putting money into the market. What the market cares about and the uncertainty that it's causing is the coronavirus and the government in action on it.

  • Even if we gave every American $1,000 it wouldn’t even be 1/2Trillion but Wall Street can have countless trillions

  • If they were smart they would do UBI of 1,000 a month for 4 months to see who has it.But that doesn't give BANK ENOUGH so we're FUCKED.

  • It should be the general population who will need this trillion dollar plus bailout, not the corporations.
    Also watch medical induced bankruptcies skyrocket.

  • I say it's time for a permanent UBI and a massive tax increase on the rich. It's the constant pandering of the wealthy at our expense that created this economic mess in the first place. Time for the oligarchs to cough it up.

  • Socialism for the Capitalists, rugged individualism for everyone else! Lets revolt, long live the people's Revolution!

  • That is also wasteful. Giving people who are still working and able to take care of themselves money, while you have people who have lost their damn job and need more than just 1,000 dollars will get screwed. Well off people will be even more well off. And poorer people will be told you got some assistance and have to make due with an inadequate amount of assistance. Having people show they have worked in an industry that has had a reduction in work hours or have been laid off is a way of insuring funds are going to people that ACTUALLY need it. My friend who is a substitute teacher who can't work because schools are closed is more impacted then say a nurse or someone who can actually work from home.

  • 1,000 a month is nothing for someone making more than that who is temporarily laid off. Instead of giving everyone 1,000 bucks which is a waste of tax money, even those still working. How about give it to those who have feeling real economic insecurity and pay them 80-100% of their original income for the time being. There are people who were making 2,000+ a month out of work that a 1,000 dollars won't really help.

  • These are desperate times. Desperate Measures are called for. Measures to help people. Pathways for us to be able to survive.

  • thank you to tulsi for introducing this legislation

    #tulsi2020 🔥🌶️💥🌶️🔥

  • Recession and dead human beings brought to you with courtesy of the republican senate who had a chance to get rid of him and blew it. Call it the imbecile virus.

  • That thumbnail is really stupid.

  • A true economic stimulus package that puts money in the p ockets of everyday Americans would always funnel upward and sideways, supporting the economy.. Money from top down never trickles down.. never has…

  • Australia did it during the gfc. We did not have a recession.

  • start using the correct term, DEPRESSION

  • Should have been done in 2008 during the great recession. Would have saved all those homes. Think how much better all would be today.

  • Halting student loan debts? Oh, they've already dug into IRS refunds for that on every American..

  • It's unfair, but money makes the world go round. Perhaps when this coronavirus has passed, the government should seriously consider Medicare for all.

  • dude its more looking like a deppression

  • If businesses are shutdown where will people be spending the money? The money needs to go to the people who are laid off that still have monthly expenses that they have to cover. If bars, movie theaters, clubs and major events are shutdown and people are staying home to avoid exposure all that extra money will not be spent. People's propensity to spend will be lower. Seems like you don't actually understand the situation.

  • Shouldn't be blaming the Democrats 100% for why that bill only covers about 20% of workers. The Republicans wouldn't accept any deal unless the amount of coverage was cut down.

  • Don't hold your breath, no pun intended. We aren't corporations that have billions in the bank so we won't get a dime. Well I hope they know that without money we can't buy anything and even when we do get back to normal we're going to have to play catch up and that means no spending on anything except the essentials. So it could be a year before our spending gets back to normal.

  • King Donald was made aware of the Coronavirus 3 months ago. If he had acted responsible then we might not be in the current financial and pandemic crisis. If King Donald acted immediately the situation we are in now would be in serious condition as opposed to our present critical pandemic let's talk about Socialism for the rich & Wall Street getting a Trillion dollar bail out while the working Americans who mostly living pay check to pay check get SCREWED. A $ 1000 per month would help the majority of the 98% of those hard working Americans. If not for the 2017 TAX SCAM ACT for the rich we would have the money to fund the Medical emergency & the $ 1000/ month. We are supposed to be the RICHEST Country in the world then we shouldn't have a problem with the proposal. .

  • Let's call it the Emergency National Defense Mobilization, and enlist every adult civilian in the Army at E-1 base pay, currently $1,773.10 per month.
    Congress can always find money for the military, can't they?

  • You can't throw money at money to save money, that is what a fool said what he was bailing the stock market in 2003 .

  • Aren't we into Andrew Yang territory now?

  • We can fix this with the election vote the fucktards out period.. our country has had about all it can take of stupid mindless fucktards voting against there own interests.. if your not rich and your a republicon you are the problem remove your head out of your ass now please..

  • trump has been bashing the Fed since before he took office and pressuring them to lower rates.
    trump wants to be able to control the Federal Reserve in order to pump-up the economy just in time to influence the 2020 election. He is not the first president to want to do so.

    trump, on a personal level, does not want high rates.

    It's been reported that trump may have lost over $5 million due to interest hikes in 2018 alone – no wonder he wants to have a friendly face or two on the Federal Reserve board!

    How many times has he talked about the interest rate being wrong & that the Federal Reserve doesn't know what it's doing?

    Ask yourself this; does trump want what’s best for the country or what’s best for trump?
    With the latest cuts in rates during, what trump claims is, the best economy ever he's trashed any hope for Fed help in the near future.
    During a good economy you keep the rates high!
    But that doesn't suit trump and so you find yourselves in the situation you're in now – headed for a full-on recession with NO safety net.
    WELL DONE trump – you effing MORON.
    end of rant! 🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️🤦‍♂️😬

  • #greatlesson
    What is happening is a great lesson for learning.
    Help each other or hoard everything.
    This silly song helped me not to worry be happy.
    https://youtu.be/d-diB65scQU

  • 1,000 dollars will be good for afew days but it will NOT going to be helpful on a long run. It’ll be like putting small bandage on a open chest wound.

  • Run for the hills …..the fact that the fed cut rates to almost 0 the Sunday before to avoid a meltdown and it didn't work at all…..be very worried !!!! the next question is are the banks liquid ?

  • Its not a recession anymore. I'm no economist but I can look at history. The stock market in 1929 had better points not all of them yes but still. 2020 it has fallen 20% has of 10 Mar in 29 it fell 24%. Bonds in 29 were 4.3% ish now below 1%.

    Its way worst then what we realize I fear.

  • That 1.5 trillion could have bought a lot of hamburgers .

  • The trillion dollars should go to the people, regardless of citizenship status. Not to the billionaires.

  • You know chump and his cronies are only thinking about the crooks on wall Street and not me trying to keep food on the table. Trump's cronies told him don't even think about giving poor people money when he suggested a stimulus

  • Mary Elizabeth Croft PDF
    Learn what the bankers are doing.

  • America’s solitions use so much blunt. No well thought out plans whatsoever. I hope they’ll come out of their juvenile phase and establish some actual safety nets. Suggestion: Look at the instruments in place in first world countries.

  • The bankers got us right where they want us fighting each other Democrats and Republicans.

  • If a person is healthy and catches the virus they'll probably be fine. If our economy was healthy when we caught this virus it probably would've been fine. It wasn't so now it's similar to a 90 year old smoker on a respirator, time will tell whether or not it recovers fully.

  • Pretty much too late.The damage traitor Ttrump has done will be hard to undo.Ttrump and his lackadaisical attitude just showed us he doesn't give a shit about America, its citizens.Hes worried about his money ,Wall Street ,the millionaires, billionaires he let down watching that final 3000 point plunge right off the cliff in front of America and Ttrumps eyes!!Hes a lifelong fuckup,a failure something many as myself have said ..Now many have witnessed and America will eventually pay the price ,like it or not!!!

  • Trump will throw all the commoners to the dogs. Like all Republicans have always done and always will

  • wtf = disabled Vietnam vet here who never got $300 from fkn Bush – R U fkn serious?

  • Now certain states and cities are closing down. Most everything but grocery stores are closing. Professional Sports have stopped. Of COURSE there will be a recession

  • Unfortunately, this is the kind of situation that increases crime.
    If you family is starving and or faced with being homeless, people will commit crimes to get what they need.

    And the cops will just shoot them. 😵

  • Republicans will launch a civil war over it

    There are videos on yt?

    You will inflatable our money

  • If the plan works and needs to happen the Donald Trump administration is likely going to ignore it and put a far worse plan in its place.

  • What happened to the 1.5trillion that was to help last week? No work..no way to pay rent, mortgage, food. End up homeless more than likely! 300.00?, I only got 100.00!

  • Rump-dump wasted 1.5 trillion on the stock market and 1 trillion tax cut. Yeah they should give 1k to all american adults but that wont happen.

  • That trump Simpson's episode is really coming to life … the one where lisa became president after trump

  • Q is the people’s revolution.
    The FED is about to go down.
    Greatest transition of wealth for all nations in human history and Farron is clueless.

  • Yep that's right people really want to starve as long as they are wearing "ring of fire" across their chest!!! Do you realise how brutally inane that sounds?!!!

  • No thanks to Trump and McConnell, they think the virus would go away yet believe the stock market will rise again. The tortoise however cut the relief bill for those who are infected.

  • What is ubi… free money

  • It'll help lots of people.

    Rent –
    Food –

  • Over half of Americans can't afford a $400 emergency… yet we bailout the super wealthy ?
    Ridiculous !

  • Even LL Bean is closing all their stores for the time being.And 2 weeks ago they put all employees on a 30 hour week,no more full time!

  • Trump will bailout the Casinos next that is his favorite charity. To be clear all honest economists predicted this would happen last year and the virus just put the final nail in the coffin.

  • I'm not surprised you would absolutely not mention Tulsi gabbard's name in this video given your bias toward her. Since Yang left it is her and her alone talking about UBI an emergency UBI. But yes pull an AOC why don't you

  • UBI would be innovative. Trump, the idiot, was adding to the debt and pressured to keep interest rates down during A BULL market. Macro Econ 101: Save and raise interest rates during the good times, spend and lower interest rates during the bad times. Keep the markets stable, keep the markets steady. Trump was already bankrupting America when he should have been fiscally responsible.

    A 1.5 trillion boost to the high finance imaginary world didn't do much, lowering the interest rates from low to lower didn't do much, UBI might be all they have left to try. Though, UBI means helping the unwashed voters who got him elected, and he doesn't like to help his voters. He likes taxing his voters and giving tax breaks to his friends. His voters are masochists who like it when he hurts them economically. The Perverts are getting what they voted for, what Trump promised them. Next thing he'll try is cutting social security to help reduce the national debt that he made worse. Cutting taxes, and cutting social security, and cutting food stamps and moving that money to his friends is how he'll try to fix the economy next. R.I.P. his voters, but they like it that way. They are into that bad touch. They like high drug prices, it's what they voted for. They are the pro-life folk who vote for higher infant mortality rates. They like it when their water has a chemical flavor. Trump voters are anti-america, and they vote with that confederate civil war thought in mind.

  • more homeless and poor coming.this is like 87 reagan voodo econamics that started the rich getting richer.

  • Where's the GOP all of a sudden. Still at mar-o-lago hiding?

  • Wynn casino paying us only 2 weeks, thank God I saved my taxes😒💸💸💸💸

  • 1 trillion would pay off all credit card debt

  • My governor has basically closed down the whole state and my entire industry. I got laid off about two weeks ago, and I don't have the skills to get a WFH job. I don't know how I'm going to pay rent right now, so yeah, THIS NEEDS TO BE DONE.

  • $1000.00 is an insult when the capitalists are getting billions. Revolt now!

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