Living typo and Worst. Bond. Villain. Ever. Steve Mnuchin is determined to leave the worst economy possible for President-Elect Handsome Joe Biden to deal with:
Treasury Secretary Steven Mnuchin on Thursday asked the Federal Reserve to return all unused coronavirus relief funds set aside for its emergency lending programs by the end of the year, taking away a lifeline even as a resurgence in Covid cases threatens to upend the budding economic recovery.
Mnuchin said the programs are no longer needed, but the move goes against the Fed’s desire to keep them going, according to a statement from the central bank, in a rare show of public disagreement between the two government agencies.
To my mind, the Fed being on the side of the little guy is the kind of Opposite World or Freaky Friday I would never expect.
“The Federal Reserve would prefer that the full suite of emergency facilities established during the coronavirus pandemic continue to serve their important role as a backstop for our still-strained and vulnerable economy,” the Fed said.
The emergency programs, which were set to expire Dec. 31 unless extended, have doled out billions of dollars in loans to keep the economy afloat. Their mere existence helped restore stability to the financial system after panic over the coronavirus earlier this year threatened to shut down key debt markets.
I’m sure Mnuchin will tell us he was only following orders. They all will say that. Hair Füror is seeking vengeance on all of us for not re-electing him, and wants to leave as much broken in his wake to cripple us in recovering from his reign of terror.
All of this is on-point for the 4th Reich, as they flee they are setting the oil fields on fire, poisoning the wells, and salting the earth. They learned a lot from Saddam Hussein’s defeat in Kuwait.