This Is Worse Than The Great Depression
As the pandemonium in New York City and beyond continues, Luke and Tim discuss the economic impact that accompanies the pandemic. First, the guys discuss growing concerns over the nation’s rapidly rising unemployment and how that factors into the likelihood that the US will face an economic depression.
Next, Luke and Tim go into Trump’s failed campaign promise that as president, he would stop propping-up the “fake phony economy.” In fact, things are now worse than they were before with bubbles built on bubbles.
Discussing CEOs and government officials who conducted insider trading in the months prior to the outbreak, the guys conclude that the stock market itself is the biggest ponzi scheme out there!
To make matters worse, the fed is bailing out hedge funds that were practicing high-risk borrowing and lending simply because they’re “too big to fail,” but are they really, or will the American people rise up and insist: “NO BAILOUTS”?
Finally, on the bright note, Luke and Tim conclude by reminding viewers that opportunity is born from crisis, and it’s all about mindset!
As always, we encourage everyone to practice social distancing but remember: love each other.
Also: (WAC) – It’s Official! We’re Now Living in Communism
Welcome to the craziest week in economic history! Comrade Rudski (aka Luke Rudkowski), Red Lips (John Sneisen), and Gulag Pachtete (Tim Picciott) discuss the unprecedented financial news from the week and how it has driven governments around the world to enact communism.
Also: (WAC) – It’s like 2008, but on STEROIDS!!!
Could this be the calm before the storm? As a virus sweeps the world, does a viral economy mean we haven’t even begun to see the worst of it yet?
Also: (WAC) – Democrats Block Stimulus Package & UBI
First, Luke and Tim remind us that the April 15 tax-return filing deadline was deferred three months. July 15th is the new extended date. Next, they look into the CV UBI Stimulus Bill. The new law, which requires small employers — those with fewer than 500 employees — to provide limited paid-leave benefits to employees who are affected by the viral emergency. Small employers are given new tax credits and federal payroll-tax relief to pay for the new mandatory benefits.
Additional elements of the bill include: Small Employer Tax Credits, Small Employer FICA Tax Relief, and comparable tax credits for self-employed people.
In the end, the guys have one question for you: What do you think of the proposed closing tagline: “Change the News, Be the News”? Let us know what you think in the comments down below, and please remember to like, comment, subscribe, and tell your friends. As always, we encourage everyone to love each other.