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President-elect Joe Biden will unveil a stimulus package proposal on Thursday designed to jump-start the economy during the coronavirus pandemic with an economic lifeline that could exceed $1.5 trillion and help minority communities.

The stimulus package has a price tag above $1.5 trillion and includes a commitment for $1,400 stimulus checks, according to a source familiar with the proposal, and Biden is expected to commit to partner with private companies to increase the number of Americans getting vaccinated.

A significant portion of the additional financial resources will be dedicated to minority communities. “I think you will see a real emphasis on these underserved communities, where there is a lot of hard work to do,” said another transition official.

Biden plans to introduce his package during a prime-time address on Thursday evening, underscoring the seriousness of the topic, but he will have to compete for attention with the political drama in Washington.

A lot of thoughts about this.

1. Far left will be upset that Biden is starting off at such a low number that they expect Republicans and moderate democrats will whittle down.

2. Right wingers will be upset that Biden mentioned giving help to minority communities. I hope he doesn't bring that up on T.V. today. A lot of people in America would rather go without aid than see minorities get any help.

3. Regarding the above point, it is interesting that Biden and whoever is managing him seem aware that minorities make up a fundamental part of the democrat base and chasing right wing votes is a lost cause.

4. Including $1400 in the proposal might go a long way to building pressure to pass this bill. The money would be nice but I agree with people who argue that it isn't the best use of our monopoly money.

5. Trump is going to do something stupid today to grab attention away from Biden's T.V. address

6. I like the fact that Biden doesn't seem interested in getting caught in the tangle of Trump impeachment drama and wants to get straight to work.

I agree that the stimulus checks are wasteful spending. I rather see that money either rolled into food stamps or unemployment or invested into a jobs program.

GME is the most exciting thing this year

I can see the fun in sticking it to the hedge funds which have destroyed so many companies just because they can.

Of course some media is now trying to link this to trump and the altright

More relevant Futurama


Though, as someone disinterested, I do find all parties to this news item rather unpleasant.

DesertFox- wrote:

More relevant Futurama
https://www.youtube.com/watch?v=EHUtHITYb94

Though, as someone disinterested, I do find all parties to this news item rather unpleasant.

There was a funny comment in the /r/WSB thread when it was announced the SEC was looking into the whole thing "I guess I'm a Libertarian now"

Correction: I cannot sell.

Wiping out a hedge fund to pay rent and debts sounds good for the economy.

Though if it was big enough it could create a ripple effect when they have to sell everything to cover their bets.

Congressional democrats are calling for investigations over why platforms stopped allowing buys of the pushed stock but allowed sales to go through. The democrats actually have the political authority to call hearings. I don't expect substantive changes but all of the corporations involved in this are groaning at the idea of congressional hearings. Those are never good. I am glad to have done my part.

RTHKI wrote:

Citadel does 40% of retail investor transactions in the US and most of Robinhood. So if citadel says stop they will.
All according to stuff I've read on reddit anyway.
Schwab is letting me buy and sell now. On reddit some could some couldn't. Systems are overwhelmed.

From what I understand from a little Googling: Citadel bailed out the Melvin hedge fund after their loss from the GME. Citadel does a lot of business with Robinhood by facilitating their transactions on Wallstreet.

A conspiracy theorist would argue that Citadel asked Robinhood to stop the trading but I can see RH making an independent decision that harmed their partners reputation as well as their own.

All conspiracies aside, we should all at least appreciate the fact that some Reddit users dropped a banking scandal on top of a bunch of people who had no idea what a reddit is when they woke up Monday for work. What a time to be alive.

I read that over half of RH users owned some Gamestop stock. If that is the case then what a disaster. There has already been two class action lawsuits filed against RH within hours. Members of congress from both sides are denouncing RH for what they did. RH cost a lot of average people a lot of money. RH probably needs to invest in physical security.

occupy was a thing