The coronavirus outbreak has caused considerable damage to the global economy and this week the U.S. is facing the onslaught of the scare. As Republicans and Democrats battle in congress over a 2020 stimulus plan, corporate industries are leaping at the chance to get a bailout. While the Fed tosses around trillions of dollars, nearly every major American industry is looking for a cut. The airline industry, the restaurant sector, hotel enterprises, lobbyists, defense contractors and more are knocking at the government’s door looking for a piece of a growing $5 trillion handout.
Also read: US Real Estate in Jeopardy – Analysts Predict Housing Market Crash to 29-Year Lows
$5 Trillion – Fed’s 2020 Bailouts to Eclipse 2008’s Stimulus
Wall Street and the corporatists in America who have monopolized certain industries for years are once again seeking stimulus from the U.S. federal government. During the last two weeks, the Federal Reserve has created trillions out of thin air and it seems everyone now wants a piece of the action. Of course, private megabanks are being taken care of as we speak but a large number of American industries are begging bureaucrats for some cash injections and tax cuts.
On March 21, author Matthew Stoller tweeted about the massive tidal wave of corporatists who are begging politicians to be included in the great stimulus plan being penned in Congress. During the 2008 financial crisis, financial institutions, auto manufacturers, and a myriad of industries were bailed out by simply telling U.S. politicians these businesses were in trouble. Corporations
