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The term helicopter money refers to unconventional methods used to get money into the hands of people that will rapidly put it to use. Whether to buy products or pay bills it is often seen as a way to kick start a stalled economy in need of a boost. This is seen as an alternative to quantitative easing and is considered by some a faster way to add liquidity into the economy. It could be argued that over the years such policies have proven to be inefficient and poorly targeted. While helicopter money may accomplish a certain goal such as supporting a market, it is poorly targeted and seldom addresses the root problems in a financial system or economy.
Article by Bruce Wilds from Advancing Time.
The failure of central banks across the world to use their power to push governments to undertake reforms is coming home to haunt us. Rather than assuming the role of enforcer and protector of our fiat currency system central banks across the world have joined with governments in what I call the “Financial-Political Complex.” This is comprised of the organizations, comprised of authorities, politicians, and bureaucrats that want increased power and influence. These people benefit a great deal by unleashing huge sums of fiat currency upon the masses and ignoring the long-term ramifications of their actions upon the financial system. It should not bring comfort to the average man that these unholy forces have joined together in such a union.
A huge problem with simply sending out big checks to a population with little experience handling large sums of money is that they don’t know how to handle it. While some big income earners and politicians in Washington may not think so, for a family of three with an annual income of $30,000 two checks from the government totaling $6,000 is an incredibly big deal. It is equal to 20% of their income and in truth, the windfall most likely doesn’t end there. Often other goodies are thrown their way such as rental assistance and a slew of other programs aimed at paying their bills.
An important factor we should consider is that such programs weaken in the minds of these people the relationship between the value of currency and reality. This translates into much of this money being poorly spent and flowing into areas where it does little to move the American economy forward. An example of this is when the money is not used towards old bills, mortgage payments, or rent, but used to buy flat-screen televisions imported from China. In such a situation the unpaid debts tend to fester and become a problem for the economy going forward. Buying junk produced in China generally does little good when it comes to creating jobs in America.
What consumers buy matters a great deal. When looking at the policies flowing out of Washington it is clear many politicians seem to have no idea that all consumer spending and purchases are not created equal. Senator Rand Paul has good reason to be bouncing off the wall with criticism of the 1.9 trillion dollar relief bill just passed. Sadly, not enough politicians and voters are anywhere near as outraged. This may have to do with the fact this is such a huge amount of money that few people can get their head around it. In fact, most Americans are oblivious to the fact less than 25% of the 1.9 trillion dollars in this bill is being given to the people in the way of direct checks but again the majority of it is pork and a gift to special interest.
The important issue when it comes to the latest rounds of stimulus, relief, and Fed easing is they fail to address the underlying cause of our economic problems. Rather than trying to correct the imbalances in our system, they are an attempt to paper over them. This means under the surface things are getting much, much worse. The massive overspending in the just passed bill is why Republicans in Congress did not support the bill. Senator Paul said, “There’s $10 million to study Native American languages, there’s $750 million to build Native American housing, there is $300 billion in there to bail out New York, California, and Illinois.” Paul believes those blue states spent money recklessly and in essence, are being rewarded for overspending in the American Rescue Plan. Wasting our resources is not the way to get the economy back on track.
The chart below shows how over the years each infusion of money into the economy has been greeted with diminishing returns. In the past, other countries embarking on similar policies have had similar results. With this in mind, it is difficult to make a case such spending spurs real economic growth.
It seems those in power see the way to a stronger economy will come from banks loaning more and for us to borrow more and spend more. However, at some point, we reach a place where too much money or currency makes it a worthless commodity and inflation takes root. Many investors are beginning to worry that time is rapidly approaching. When it does arrive it will bring about a financial crisis, that is when those saying that we only need to print more money to move forward will find they are on the wrong side of history.
‘The Purge’ by Big Tech targets conservatives, including us
Just when we thought the Covid-19 lockdowns were ending and our ability to stay afloat was improving, censorship reared its ugly head.
For the last few months, NOQ Report has appealed to our readers for assistance in staying afloat through Covid-19 lockdowns. The downturn in the economy has limited our ability to generate proper ad revenue just as our traffic was skyrocketing. We had our first sustained stretch of three months with over a million visitors in November, December, and January, but February saw a dip.
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It wasn’t just the shortened month. We expected that. We also expected the continuation of dropping traffic from “woke” Big Tech companies like Google, Facebook, and Twitter, but it has actually been much worse than anticipated. Our Twitter account was banned. One of our YouTube accounts was banned and another has been suspended. Facebook “fact-checks” everything we post. Spotify canceled us. Why? Because we believe in the truth prevailing, and that means we will continue to discuss “taboo” topics.
The 2020 presidential election was stolen. You can’t say that on Big Tech platforms without risking cancelation, but we’d rather get cancelled for telling the truth rather than staying around to repeat mainstream media’s lies. They have been covering it up since before the election and they’ve convinced the vast majority of conservative news outlets that they will be harmed if they continue to discuss voter fraud. We refuse to back down. The truth is the truth.
The lies associated with Covid-19 are only slightly more prevalent than the suppression of valid scientific information that runs counter to the prescribed narrative. We should be allowed to ask questions about the vaccines, for example, as there is ample evidence for concern. One does not have to be an “anti-vaxxer” in order to want answers about vaccines that are still considered experimental and that have a track record in a short period of time of having side-effects. These questions are not allowed on Big Tech which is just another reason we are getting cancelled.
There are more topics that they refuse to allow. In turn, we refuse to stop discussing them. This is why we desperately need your help. The best way NOQ Report readers can help is to donate. Our Giving Fuel page makes it easy to donate one-time or monthly. Alternatively, you can donate through PayPal as well. We are on track to be short by about $5300 per month in order to maintain operations.
The second way to help is to become a partner. We’ve strongly considered seeking angel investors in the past but because we were paying the bills, it didn’t seem necessary. Now, we’re struggling to pay the bills. We had 5,657,724 sessions on our website from November, 2020, through February, 2021. Our intention is to elevate that to higher levels this year by focusing on a strategy that relies on free speech rather than being beholden to progressive Big Tech companies.
During that four-month stretch, Twitter and Facebook accounted for about 20% of our traffic. We are actively working on operating as if that traffic is zero, replacing it with platforms that operate more freely such as Gab, Parler, and others. While we were never as dependent on Big Tech as most conservative sites, we’d like to be completely free from them. That doesn’t mean we will block them, but we refuse to be beholden to companies that absolutely despise us simply because of our political ideology.
We’re heading in the right direction and we believe we’re ready talk to patriotic investors who want to not only “get in on the action” but more importantly who want to help America hear the truth. Interested investors should contact me directly with the contact button above.
As the world spirals towards radical progressivism, the need for truthful journalism has never been greater. But in these times, we need as many conservative media voices as possible. Please help keep NOQ Report going.
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American Conservative Movement
Join fellow patriots as we form a grassroots movement to advance the cause of conservatism. The coronavirus crisis has prompted many, even some conservatives, to promote authoritarianism. It’s understandable to some extent now, but it must not be allowed to embed itself in American life. We currently have 11,000+ patriots with us in a very short time. If you are interested, please join us to receive updates.
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