The Fed’s Cure is Worse Than the Disease
There is so much conflicting information out there, it’s hard to keep it all straight. Luke and Tim provide their personal expertise and opinions on the conflicting reports on the severity of the world’s sickness. First, New York City Health Commissioner said there is no reason for young, healthy people to miss the city’s upcoming parade DESPITE the fact that the US now leads the world in confirmed cases with NYC as the epicenter.
Next, as many have already heard, PM Boris Johnson tested positive, and Former Labor Prime Minister Gordon Brown called for Global Government. Globalization much?
Italy hasn’t yet reached its peak, and Spain – where the country valued tourist money above a global health concern – reported 769 sickness deaths in a single day.
Experts are saying the virus is likely to cause 81k deaths in the United States within the next four months. De Blasio says New York could stay closed until late May – Also suspects half of NYC’s population will be infected at some point.
The Surgeon General, who did lie about the need for masks, says the pandemic will extend beyond Labor Day. Dr Fauci continues cold war with Trump by casting doubt on Trump’s goal of reopening the country by Easter.
Trump claims CV is less infectious than he thought – Trump says people should prepare to go back to work within the next few days.
Cell Phone Heat Map – researchers showed how people were traveling after the Florida Spring breakers left. Overlaying the maps of those spring breakers’ travel with the maps of the virus spread shows correlation.
New Orleans is likely to become the next outbreak epicenter due to Mardis Gras and spring breakers. Though New York City is hit most severely.
We shouldn’t be rushing to make major decisions. Everything is going to be okay, if we all just take a minute and use logic.
What do you guys think?
Also: (WAC) – Cases SURGE in New York & Is a 2nd Stimulus UBI Coming Already?
In our third video of the day, Luke and Tim dive into all of the day’s biggest headlines not covered so far. These include: * New York’s sickness death toll jumps 100 in one day.
* Cuomo admits his decision to quarantine all at once wasn’t best strategy.
* Oxford study indicates millions have already built immunity to virus.
* 14% of Recovered virus patients test positive AGAIN in China.
* Hospitals Consider Universal DNRs for patients with the sickness.
* US Marine tests positive & Pentagon announces 1st case.
* US military is withholding infection data.
* Bill Ackman made $2.6 Billion betting against the markets.
* Nancy Pelosi hints that $2 Trillion is just the beginning.
Also: (WAC) – Record Unemployment: People Are Optimistic, but Should They Be?
To kick things off, Luke dives straight into President Donald Trump’s 96-0 Congratulations America tweet, which was a reference to the government approving the $2 Trillion Stimulus package. Next, Luke gets into the record unemployment number, which now soars past 3 million and shows a vertical strip on the data chart, and Tim Picciott explains why April is likely to be even worse, with more unprecedented layoffs and terminations.
Even as the battle between Donald Trump and The Federal Reserve rages on, the economy continues to fall.
Finally, the guys remind viewers that a depression is likely to cause many suicides as death accompanies a terrible economy. Please remember to love each other.
Also: (WAC) – This is Not Over. It’s Not a Snowstorm. This is Economic COLLAPSE!
Luke and Tim get into all of the many reasons why investors shouldn’t trust the stock market’s recovery today. As always lately, there is much bigger news brewing. NYC looks like it will become the next Wuhan. The morgues are now full or nearly full. Please be sure to check out Luke’s other video all about this over on the We Are Change channel.
In the US, politicians are doing what they do best, monopolizing on this tragedy to grab up all of the money and power they can.
Rashida Tlaib proposed that every person in the US be given $2k on a preloaded debit card that would be reloaded w $1k/month until 1 year after the end of the CoronaVirus crisis. Calls for the minting of 2 Trillion-dollar coins. How will we pay for this? The treasury will issue 2 trillion-dollar platinum coins, the federal reserve will purchase them, then the treasury would make the funds available to the bureau of fiscal service who will disperse the funds.
Negative interest rates in the US now. The US now has a negative three month treasury yield.
James Bullard and other economists are telling people this will all blow over, but they’re wrong.
What is happening in the US and on a global scale, now looks eerily similar to what happened in Zimbabwe. The pace is staggering.
Today’s pump took the promise of $6 trillion. What else would need to happen to keep the economy going?
As always, we remind you to practice love and compassion for each other as we are all in this together.
Also: (WAC) – BREAKING: Biggest Bailout in History. Stimulus Bill Passed
The pandemic emergency stimulus package will exceed $6 trillion! That’s a $2 trillion in: aid for families, airline bailouts, and a $350 billion small business loan program. The remaining $4 trillion will allow the federal reserve to bailout whoever they want. Trump’s chief economics officer Larry Kudlow says he expects this bill to recover the economy before the end of the year, which is precisely how you know it’s more likely to take years to recover.
Also: (WAC) – The Fed’s Major Moves So Far & What You Need to Know
In all of the recent news about the postponing of the 2020 Tokyo Olympics and the spread of a contagious virus, it’s easy to get lost, but Luke and Tim get you back on track and focused on the real news: what the fed has already done. The Dow surged, but what’s the reality? Tim breaks it down. Here’s everything the fed has already done:
* Reduced Rates to zero
* Reduced Reserve requirement to zero
* 3 500 bn 3 month term repo’s
* $185 billion in QE per day
* Willing to provide unlimited support to the markets
* Buying MBS, Treasuries, outright monetizing the debt track
* Muni bonds, corporate bonds
* Stock as collateral and other non “safe” assets now count as collateral
* FASB urging change in accounting rules to help banks hide losses
* 2 year blackout on REPO operation transpareny
* 6 month window on bailouts proposed.
The fed has basically said: we have to initiate communism to see economic growth.
Also: (WAC) – Trump Wants to Re-Open Economy. Is it Too Little, Too Late?
Trump says America may reopen after 15 days. He’ll even defy doctors’ orders to re-open businesses and restore the US economy. But what’s likely to come from those actions, if they are enacted? Luke, Tim Picciott, and financial historian John Sneisen explain why this is just another excuse for the government to take stakes in corporations in a socialist way.