«

»

Jun 07

Was the government’s COVID-19 response the biggest transfer of wealth in history?

Government Made the Rich Vastly Richer; Impoverished Millions of Others

Jim Cramer, host of CNBC’s “Mad Money,” stated on June 4 that The coronavirus pandemic has produced “one of the greatest wealth transfers in history.”
“This is the first recession where big business … is coming through virtually unscathed,” even as 21 million Americans are drawing unemployment.

Since March, many governors have ordered most small businesses shuttered and closed. Small businessmen who tried to stay open have been arrested, fined, and prosecuted. Unemployed Americans have been forced to obtain food and necessities from just a handful of government-approved retailers.

WalMart, Costco, Target, Amazon, and major grocery chains have had virtual monopolies, thanks to these government orders.

The stock market has recently seen record-setting gains, even as small businesses have been crushed.

In alleged response to the coronavirus, the U.S. Congress and President Trump passed the largest spending bill in world history, costing taxpayers some $2.2 trillion. The vast majority of these funds went to make government agencies LARGER.