$6,000,000,000,000! ; ;
That's right, Larry Kudlow announced this morning that the US Government's stimulus package "will come to roughly $6 Trillion." ; That's in the form of $2Tn of direct CASH!!! to businesses and individuals and $4Tn from the Federal Reserve or, in other words, given to the Banksters. ; If they just gave the $6Tn directly to our 300M US Citizens, that would be $20,000 for every man, woman and child or about $70,000 per household. ; I think that would do a Hell of a lot more to stimulate the economy than giving it to Goldman Sachs, don't you?
NONETHELESS, $6Tn is about 1/3 of our entire GDP – the entire output of the United States over a 4-month period and, so far, we're in week 2 of the virus shutdown and, so far, there's no evidence that economic activity is down more than 30% – or about $500Bn for the month. ; Granted the virus may be around for longer then 4 months but, as I pointed out yesterday – it's not likely to kill more people than cancer (6M) or even Aids (1M) and, horrible though it is – life will, eventually, go on regardless.
Another reason the Futures dropped 600 points this morning (still green though) is our beloved leader is still sticking to his idiocy of ending the quarantine by Easter (April 12th) despite every expert, including his own, saying that it's a terrible idea to set arbitrary dates this early in the process and, of course, China's quarantine lasted 50 days – how are we going to be done in less than 30 days? ; ;
Also this morning, because our President is an idiot, the World Health Organization (WHO) warned the rest of the World that the United States could become the new hub for the viral outbreak as we are THE WORST country on the planet Earth in terms of preparedness, prevention and containment. ; Chad looks organized compared to us – CHAD! ; ;
“This cure is worse than the problem,” Trump said. “In my opinion, more people are going to die if we allow this to continue.”
SOURCE: Phil’s Stock World – Read entire story here.