March 20, 2021
Data show lots of ‘Covid relief’ stimulus checks went directly into financial markets, not spent on necessities
By Thomas Lifson
While there are plenty of people whose lives have been thrown into chaos by the lockdowns imposed on us in the name of protecting against Covid, the “free money†sent out without a single Republic vote in Congress went to a lot of people who didn’t really need it. The checks amount to Democrats buying votes, so why should they limit the purchase to the truly needy?
A report from Goldman Sachs, which watches financial flows closely, stated (via MarketWatch):
“These payments may be making their way into mutual funds and ETFs, as well as other assets,†the Goldman analysts wrote. “All industry categories saw positive net inflows on the week; the largest net purchases as a share of [asssets (sic) under management] were of industrials and telecom.
more
https://www.americanthinker.com/blog/2021/03/data_show_lots_of_covid_relief_stimulus_checks_went_directly_into_financial_markets_not_spent_on_necessities.html
