Corona Virus Relief?
Last I heard, the government was working on a plan to help save the economy during this epic downturn that was supposedly brought upon us by the Corona Virus. While I don't doubt Covid-19 is partially responsible for the market issues, I think a lot of people will verify that this was a long time coming and many people much smarter than myself predicted a recession in 2020 anyway.
Part of the "stimulus" package that they are suggesting is a $1200 payment to each adult in the country. For all I know this has already been passed and is in motion. Last I heard it was being held up somewhere in the process. Supposedly Bernie Sanders was keeping the hardworking Americans from getting their money. I don't necessarily believe that though.
So here is my question for you today... Let's imagine you are an American and you are lucky enough to be blessed by this gift from our government. What do you do with it?
Personally, I am on the fence. I am considered one of the essential employees right now where I work, so I am not at much risk of getting laid off. That isn't the case for my wife as far as I know. I am trying to determine if we are going to be able to pay our bills should she get laid off.
My first option would be to use the money to pay down some of our debt so that we can minimize our payments each month. That $2400 total would go a long way towards helping us out.
On the other hand, part of me would want to take a good portion of that money and invest it in some more cryptocurrency. All of these loans and handouts the government is lining up seem like a stop gap measure to me. They are doing nothing to fix the fundamental flaws of the financial system as a whole.
I know for a fact the next time someone questions me about how bitcoin actually has any value, I will point to the couple trillion dollars that the government made magically appear and see if they finally understand.
I'm not trying to be in everyone's business, I am just curious, do you plan on investing back into a broken system or putting your money into the future of finance?
