'It's so disappointing to see where some Republicans have gone in modern-times in their support of government' says John Tamny

"So the PPP saved the economy, but what would have happened if they hadn't shut down the economy in the first place? You don't need the PPP," says John Tamny from Real Clear Markets.

The Randy Tobler Show
June 16, 2020 - 7:30 am
Categories: 

(KFTK) – Randy and John Tamny from Real Clear Markets both got a chuckle out of Senator Ted Cruz's praise of the PPP bailout following the Covid-19 shutdowns.

"So the PPP saved the economy. But what would have happened if they hadn't shut down the economy in the first place?" asked Tamny.  The answer, "you don't need the PPP."

Tamny says the markets continue to invest in the future, while the government bailouts only helped the past, "what are all the great business ideas that never got funding? What are all the great business that died so that we could prop up the past?  That government could basically throw money at its mistakes?"

"They created this wreckage and then they extracted three- trillion more from the economy so they could fix their mistakes," says Tamny, "the danger is in the shutdowns in the first place."

Tamny wonders why big-box retailers were able to stay open amid the shutdowns, but smaller businesses were not?  

"The whole idea was we want to keep people separate, 'social distancing', so why would you shut down so many businesses?  Why not spread it out? Why not allow people to try different places?" asks Tamny.  Why is the government "picking winners" causing people to pile into a Target or Wal-Mart?

 

Read John's articles at RealClearMarkets 

 

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