LEE KRAMER'S ROOM: With Views

[hap0206]

Here is the bottom line according to Kunstler
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[snip]
I don’t have the exact numbers, but it’s likely that the Covid-19 lockdowns took out disproportionately more jobs held by black Americans in low-paying food prep, hotels, and other service industries. A lot of those businesses will not be coming back to anything like their former levels of activity and employment. Of course, all other racial groups in US are getting battered by job loss, too, but they are expected to find solace in their whiteness, Asian-ness, Hispanic-ness, et cetera.

Pretty clearly, the next move for black America is the demand for cash reparations for all their historical indignities. That’s the hustle-of the-last-resort. One can easily predict the fiasco it will lead to. A Democrat is elected in November and reparations are enacted by congress. They’ll come out with some figure, whatever tortured process it takes. They’ll do it in the same fabled hundred days that they legislate trillions of dollars in other programs aimed at replacing lost private business with government dispensation… of everything… based on… what?

Well, not on the production of anything of value. Really just on more debt. The new crop of political leaders, like the old crop, will overlook the fact that the American economy blew up in 2020 because it had been running on debt, one way or another, for more than a decade, and we actually exceeded our ability to take on new debt. So, when the new administration borrows trillions more from itself, it will finally destroy the dollar. Within a few months, the value of reparations — whether $100,000 or $10 million per individual — will run to zero. The joke will be on everybody. Except guess what. It will be no joke.
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[all of it]
https://kunstler.com/clusterfuck-nation/beware-of-what-you-wish-for/