Episode 296: $2.2T Coronavirus Rescue

Trump signs a historic $2 trillion coronavirus stimulus bill into law. I'll explain why I think it's not a stimulus package at all. And how likely it is things will be back on track by April, the latest Coronavirus news, and more. Join the Unfilter Discord (https://discord.gg/3xxPjAa) Links: Episode 985: Where Do We Get $2,000,000,000,000? : Planet Money : NPR (https://www.npr.org/2020/03/26/821787090/episode-985-where-do-we-get-2-000-000-000-000) Trump signs $2.2T stimulus after swift congressional votes (https://apnews.com/2099a53bb8adf2def7ee7329ea322f9d) Trump signs $2 trillion coronavirus stimulus bill (https://www.nbcnews.com/politics/congress/house-gives-final-passage-2-trillion-coronavirus-stimulus-bill-n1170281) Boeing to Emerge as Big Stimulus Winner - WSJ (https://www.wsj.com/articles/boeing-to-emerge-as-big-stimulus-winner-11585331293) Factbox: 'Mr. No': Meet the U.S. congressman who requested a formal vote to delay the coronavirus bill - Reuters (https://www.reuters.com/article/us-health-coronavirus-usa-massie-factbox/mr-no-meet-the-u-s-congressman-who-might-delay-the-coronavirus-bill-idUSKBN21E26K) Trump signs $2.2tn coronavirus stimulus package into law | US news | The Guardian (https://www.theguardian.com/us-news/2020/mar/27/washington-coronavirus-stimulus-bill-vote)

$2 trillion (Congress)
+$4 trillion (Fed & Treasury)
———————————
$6 trillion stimulus

$6 trillion divided by 350 million citizens = $17,000 per citizen

times a family of 4

=$68,000 per family of new national debt and dollar devaluation in this stimulus.

not a good deal

— Thomas Massie (@RepThomasMassie) March 26, 2020 U.S. Vice President Mike Pence: Previous modeling on coronavirus spread seems to be 'really wrong' - YouTube (https://www.youtube.com/watch?v=yNd8tM8UOkE) Coronavirus could kill 81,000 in U.S., subside in June -... (https://news.trust.org/item/20200326232240-2yx1f) Weekly mortgage applications tank 29% as coronavirus stops homebuyers (https://www.cnbc.com/2020/03/25/weekly-mortgage-applications-tank-29percent-as-coronavirus-stops-homebuyers.html) U.S. auto sales in states with coronavirus lockdown orders to drop 80%: analysts - Reuters (https://www.reuters.com/article/us-health-coronavirus-usa-autos-idUSKBN21C38N) Why the Fed’s Bazooka Will Not Stop a Wave of Corporate Defaults | Council on Foreign Relations (https://www.cfr.org/blog/why-feds-bazooka-will-not-stop-wave-corporate-defaults) Wall Street Cheat Sheet: Psychology of a Market Cycle (https://www.onemint.com/2010/opinion/wall-street-cheat-sheet-psychology-of-a-market-cycle/) US virus deaths may top 80,000 despite confinement: study (https://news.yahoo.com/us-virus-deaths-may-top-80-000-despite-161924116.html) Coronavirus stimulus bill: When $2 trillion is not enough - Axios (https://www.axios.com/coronavirus-stimulus-bill-what-it-does-b4fa6c4d-6e45-4d15-8089-d51c655bc1c9.html) 3.3 million seek US jobless aid, nearly 5 times earlier high (https://apnews.com/1bae3794481cc9d02fc670480cfcb800) Excerpt: Joe Biden's accuser finally tells her full story by Katie Halper (https://soundcloud.com/katie-halper/joe-bidens-accuser-finally-tells-her-full-story) Mayor Garcetti announces water and power will be shut off for nonessential L.A. businesses that don’t close | KTLA (https://ktla.com/news/coronavirus/mayor-garcetti-expected-to-hold-daily-briefing-on-l-a-s-covid-19-response/) Senators threaten to delay coronavirus relief bill with last-minute objections - Axios (https://www.axios.com/coronavirus-relief-bill-lindsey-graham-bernie-sanders-619d2d7e-fea5-4884-ae48-a80fcb029e40.html) Trump's businesses barred from bailout money in Senate coronavirus bill (https://www.nbcnews.com/politics/donald-trump/trump-s-business-barred-bailout-money-senate-coronavirus-bill-schumer-n1168466) Jerome Powell: Fed Weighing Costs, Benefits and Trade-offs of Digital Currency - YouTube (https://www.youtube.com/watch?v=KmN6rs6VtoQ) This was the fastest 30% stock market decline ever (https://www.cnbc.com/2020/03/23/this-was-the-fastest-30percent-stock-market-decline-ever.html) Fed announces unlimited QE and sets up several new lending programs - MarketWatch (https://www.marketwatch.com/story/fed-announces-unlimited-qe-and-sets-up-several-new-lending-programs-2020-03-23)