Thursday, April 30, 2020

Op-ed:
Funding Approved, Debts Need Canceling, Payback Pending
By: Diane Sori / The Patriot Factor / Right Side Patriots on Right Side Patriots Radio

I want to thank Congress for answering my call to pass this critical funding.”
- President Donald J. Trump on last Friday's signing of part two of the "Paycheck Protection Program"

Now as seemingly draconian restrictions and rules are finally starting to be relaxed...something I feel has been somewhat long overdue...our nation is slowly starting its state-by-state economic recovery all due to a nasty little virus that made its way here from China. And as allah's chosen ones are about a week into their “oh my g-a-w-d we have to skip lunch” anything but fasting holiday...issues keep cropping up that are either directly COVID-19 related or the recipient of COVID-19's fallout.

And here let's start with the economic fallout the virus has caused our beloved America and in turn the world what with America being the world's largest economy. And let's begin by saying that our not so long ago thriving economy...thanks to President Donald Trump's leadership, tax cuts, and business savvy...saw that very economy basically being shut down for over a month now as the number of those infected by COVID-19 as well as the number of those who succumbed to COVID-19 continues to rise. And to that affect, last Friday our president signed into law part two of the "Paycheck Protection Program" (PPP) as, to date, over 26 million Americans have filed jobless claims what with both federal and state issued stay at home/social distancing orders still in place...orders we hoped would never morph into becoming America's newest, albeit hopefully temporary, societal norm.

So even as some restrictions are now starting to be eased in certain states with the hope that at least some semblance of a normal life will in time emerge, most Americans still fear having no jobs to return to what with both large and small businesses having had to close their doors, and it's not because they wanted to but with no customers to service due to the nationwide stay at home order what choice did they have but to close. And it's only now that we can see the true impact COVID-19 has had not only on said small businesses but on specific segments of America's population as well.

In fact, a recent Pew Research Center survey found that lower-income adults felt and are still feeling, no matter the stimulus monies they've received, the economic impact more than most others. Also, as per said survey, 43% of U.S. adults say that they or someone in their household has either lost a job or taken a cut in pay due to COVID-19, up from 33% at the end of March. And among lower-income adults that number is even higher, reaching 52% who say they or someone within their household has lost their job or has been forced by circumstances to take a serious pay cut.

And while 75% of upper-income adults are three times as likely as lower-income adults in regards to having enough emergency funds on hand to readily cover their expenses for three months, and with with but 48% of middle-income adults having the same, it means that lower income folks are indeed more affected economically on an actual day-to-day basis. And lower income folks who are small mom-and-pop business owners sadly do appear not only to be hurting the most, but also worrying the most about paying their now escalating post due bills as well as having enough funds on hand to handle their regular day-to-day living expenses. And our president knew this and thus made it clear that PPP part two must ensure that small businesses can continue to pay their employees while also covering the actual costs incurred in keeping their small businesses viable.

Thankfully, partisan politics was put aside for the moment allowing President Trump to sign part two of the "Paycheck Protection Program" into law.

So what exactly in dollars and cents is in part two of the "Paycheck Protection Program"...the program originally designed to authorize "forgivable loans" to the 30 million small businesses across the country...and why is a part two even needed? Simply, because in its initial funding phase the original PPP program actually did run out of money in just 13 days. So now with $310 billion in new funding, part two will enable millions of Americans to stay on payroll along with $75 billion going to medical workers and hospitals to aid in their front line fight against COVID-19; $25 billion has been allocated for helping to defray the cost of the still ongoing countrywide testing being done with even more testing promised to come; and $50 billion will be put towards the "Economic Injury Disaster Program" with an additional $10 billion for the "Economic Injury Disaster Advance Program."

So while words to the affect that even these monies won't be enough to completely bail out small businesses and get the economy back up to full speed are making the media rounds, know that there are ongoing talks between Congressional members regarding yet a third round of PPP funding what with many economic experts believing that this second round will indeed run out of funds in less than two weeks time as did part one. Putting the proverbial cart before the horse I'd say.

And so this becomes yet even more fallout to rain down on our country courtesy of Communist China's lies, deceit, deviously calculated silence, and its resulting cover-up about a virus they knew early on was possibly pandemic in nature. And while COVID-19's economic fallout is something we as a country are addressing with the resources we have on hand...and know that with President Trump at our nation's helm we will come back even stronger than before...it's time we as a country address tangible payback. And why... because China is not America's friend, never really has been and probably will not be for the foreseeable future. And what we once thought to be unfathomable damage...economic damage coupled with the cost in human suffering and lives lost...has now become a sad reality that cannot and must not go unpunished for to do so will see China gaining the upper hand in a very true geo-political sense...a dangerous something that must never be allowed to happen.

And while America will always remain the world's number one super power...whether Russia likes it or not...China has been covertly trying to basically rule the global economy what with their undercutting production costs, cheap labor, their openly stealing foreign intellectual property, their gaining control over and/or manipulating both global supply lines and important future technologies, and their not so secretly buying up tangible properties (as in land)...properties and businesses not only in our country but in many other countries as well.

And while some say that China should be charged under international criminal law with “intentional and real harm and damages”...it will be hard if not impossible to prove that the virus was anything but accidentally released. And while the Chinese government and their cohorts in the W.H.O. covered up the ramifications of the disease itself, criminal charges would neither bring back the dead nor aid in economic recovery for any of the countries affected by the what some now are calling the “virus from hell.”

Now, I believe the best way to payback China for its duplicity and harm done is through economics itself...as in let China's economy suffer as has ours and the free world's...in other words directly hit China in its economic pocketbook. And this can be done by simply cutting off any and all U.S. trade agreements with China...period...as simple sanctions are but a slap on the wrist. And why a total cut off...because isn't it odd or at the very least a bit disconcerting, that it was in early to mid-January of this year that we first heard serious and credible rummages of an escalating worldwide epidemic that originated in China, and that this was around the same time that President Trump signed the new Phase One trade deal with China...a deal that benefited our country's economy way more than it did China's, and China knew it.

So what better way to turn the tables on the U.S. than by hurting our economy while at the same time “saving face” for their agreeing to a trade deal they knew was not truly favorable to them. And the much needed catalyst came via China's remaining ever so silent to the now nationally and internationally spreading disease...as in COVID-19. Simply, by China's allowing COVID-19 to basically go unchecked within its own country while still allowing their possibly infected citizens to continue traveling abroad, they knew the virus would ultimately spread worldwide. And this spread included to the U.S. where the virus would eventually cause negative economic repercussions to occur all on its own...with China thinking that no tangible blame could be placed on them as viruses do tend to naturally spread.

How very wrong the Chinese government's thinking was then and still is now what with payback...when it does happen...tending more times than not to be a true bitch slap.

And so once again I say, we must cut off all...I repeat all... trade with China and hope that all our allies do the same thing. “Made in America”...“Grown in America”...“Product of America”...or in the U.S.A...must now and forever be our country's new mantra and that applies to any and all goods, services, and equipment coming from China. And let the cut begin with pharmaceuticals, medical supplies, medical instruments, as well as always needed protective equipment as the U.S. must never again rely on anyone other than ourselves in regards to the health, safety, and welfare of “We the American people.”

Also, all companies and even buildings owned and/or operated by China here in the U.S. must be immediately returned to U.S. ownership as well as properties themselves (as in actual land) bought by China. And all debt we owe China must now be marked either paid-in-full or outright canceled, meaning no principal nor interest will remain for that debt has now been paid for via American blood and deaths.

And on the international front...with COVID-19's fallout being felt worldwide payback should be worldwide as well. And to that affect China should no longer be allowed to be the world's largest debt lender nor the keeper of trade agreements. And why...because as of today China has lent about $1.5 trillion in direct loans and trade credits to more than 150 countries, thus allowing China to become the world’s largest “official creditor”...larger than the World Bank, the International Monetary Fund (IMF), and all 34 member countries of the Organization for Economic Co-operation and Development's (OECD) creditor governments combined.

In other more direct words, China can actually hold the world's economies hostage if payments on loans are not made on time, thereby being able to send the global economy into yet another free fall, and they would not need a virus as the catalyst to do so. And its here, as with the U.S. debt, that all loans made by China should be marked “paid-in-full.”

Let China's communist leaders digest that international “should be” reality for awhile. And while they do that President Trump can sneak in from behind and cut all U.S. economic ties with China, mark all our debts to China “paid-in-full,” and then send China packing via a one a one-way ticket out of the U.S...just saying...just hoping...just praying it gets done. Case closed.

Copyright @ 2020 Diane Sori / The Patriot Factor / All Rights Reserved.
 
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For more political commentary please visit my RIGHT SIDE PATRIOTS partner Craig Andresen's blog The National Patriot to read his latest article, The News and a Dose of Snark.
 
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Tomorrow, Friday, May 1st from 7-9pm EST, RIGHT SIDE PATRIOTS Craig Andresen and Diane Sori discuss 'Funding Approved, Debts Need Canceling, Payback Pending'; 'The News and a Dose of Snark'; and important news of the day.

Hope you can tune in to RSP Radio at: https://streamingv2.shoutcast.com/right-side-patriots

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