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1. Caek Islove 🍰 ❤️ (caekislove@gleasonator.com)'s status on Sunday, 19-May-2024 04:30:37 JST Caek Islove 🍰 ❤️

   Imagine still promoting UBI after witnessing first hand how much all the free COVID money fucked the economy.

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   • Gabe (gabriel@mk.gabe.rocks)'s status on Sunday, 19-May-2024 04:54:30 JST Gabe

     in reply to

     @caekislove@gleasonator.com
     I'm not in favor of UBI generally, but this is a misunderstanding of what happened during Covid.
     Yes, "stimmy checks" were handed out, but there was a lot of other insane (& criminal) financial engineering going on.
     Using policies to shut down small businesses to give large players a de-facto monopoly has also enabled a lot the problems.
     
     I understand the point you're making but it's a pet peeve of mine when people blame inflation entirely on low-income recipients when there was a lot of fraud and outright financialized looting going on.
     
     I do agree with your primary point though, I would just suggest pointing to "government taking direct control of the economy" rather than the mere handouts which were only a bribe to enable much worse pillaging.

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   • djsumdog (djsumdog@djsumdog.com)'s status on Sunday, 19-May-2024 04:54:32 JST djsumdog

     in reply to

     • Gabe

     UBI would only ever work in Star Trek world: a world where there is infinite cheap power, instant atom level recycling and zero resource scarcity.

     Real UBI would be much more like The Expanse and less like Star Trek.

     Just because COVID was the largest psyop and authoritarian litmus test the world has even seen, doesn't discredit what it showed us specifically about modern monetary theory, a.k.a just printing money.

     Money has to represent some value. When you hand out that much of it without exchanging value, the rest in circulation looses value.

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