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Global Government Debt Has Soared To A Record $2.1 Trillion in March

From Reuters

Now they are increasing spending, but what happens when tax revenues fall off the cliff because people aren’t working? A debt jubilee, inflate the debt away, debt restructuring, or deficits don’t matter MMT – what will they do?

The latest surge in government debt sales comes after levels had already risen in 2019 when global debt across all sectors bulged by over $10 trillion to exceed $255 trillion.

Governments and central banks around the world have unleashed unprecedented fiscal and monetary stimulus and other support for economies floored by the coronavirus pandemic with the G20 pledging in March 26 it would inject more than $5 trillion into the global economy to limit job and income losses.

By the end of 2019, global debt stood at 322% of GDP – 40 percentage points higher than at the onset of the 2008 financial crisis, the IIF said.

Hat tip to Daniel Lacalle

Hospitals Say Feds Are Seizing Masks and Other Coronavirus Supplies

L.A. Times:

“Although President Trump has directed states and hospitals to secure what supplies they can, the federal government is quietly seizing orders, leaving medical providers across the country in the dark about where the material is going and how they can get what they need to deal with the coronavirus pandemic.

“Hospital and clinic officials in seven states described the seizures in interviews over the past week. The Federal Emergency Management Agency is not publicly reporting the acquisitions, despite the outlay of millions of dollars of taxpayer money, nor has the administration detailed how it decides which supplies to seize and where to reroute them. …

“The medical leaders on the front lines of the fight to control the coronavirus and keep patients alive say they are grasping for explanations. “We can’t get any answers,” said a California hospital official who asked not to be identified for fear of retaliation from the White House.

“In Florida, a large medical system saw an order for thermometers taken away. And officials at a system in Massachusetts were unable to determine where its order of masks went.

“Are they stockpiling this stuff? Are they distributing it? We don’t know,” one official said. “And are we going to ever get any of it back if we need supplies? It would be nice to know these things.”

Is this PPE they’re stealing from American hospitals the same stuff they’re turning over to the Israeli army instead? It’s all fungible, so same difference anyway.

Complying with White House Orders for a Pandemic Mask

http://jimbovard.com/blog/wp-content/uploads/2020/04/jpb-pandemic-smaller-for-twitter-20200407_121621.jpgWhite House sez wear a mask, I wear a mask. But I don’t expect to get hired as a mask consultant.

For the record: I’ve been wearing masks for several weeks.  In my March 24 Daily Caller oped on Pandemic Security Theater, I wrote: “Before granting politicians any more powers, we should recognize how the pandemic became a fiasco in part due to federal follies and falsehoods. The feds urged people not to bother wearing facemasks but widespread use of surgical masks could have “flattened the curve.”

This is Your Security Force

From the Free Thought Project: WATCH: Cops Violate Social Distancing to Arrest Innocent Dad for Playing in a Park with 6yo Daughter

Brighton, CO — Over the weekend, Matt Mooney, his wife, and their 6-year-old daughter were playing t-ball at an empty park when a half dozen cops showed up and kidnapped Mooney. The family was not in violation of any law, were obeying social distancing mandates, and had harmed absolutely no one.

Mooney tells TFTP that the city issued an order that all parks were closed during the COVID-19 shutdown. However, the open spaces at the parks were still accessible as long as certain rules were followed. In fact, the sign at the park at which Mooney and his family were playing read as follows: “Closed” but just below that part, the sign reads, “in groups of no more than 4 persons, parks remain open for walking, hiking, biking, running and similar activities.”

Mooney was in a group of three and violated none of the park’s or city’s rules. The only people violating the social distancing guidelines were the cops who showed up to arrest him.

Read the rest and watch the video here.

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