If you have not seen the press conference from Monday evening, here’s the bottom line: The government is going to do “whatever it takes”!
And that means spending lots and lots of unbacked, debt-based fiat currency which doesn’t come from savings, but rather, from digging ourselves deeper into debt.
Our children, grandchildren, and so on and so forth, that is.
We’ve been warning of the crack-up boom coming for some time, and with nobody travelling nor going out much in public in regions that are affected by the coronavirus, all of this free-flowing “money” that would otherwise be “consumed” in service-type things like entertainment, eating out, going to sporting events, and more, well, all of that money will now seek out a dwindling global supply of goods.
Nevermind the fact that just yesterday morning, President Trump was downplaying Covid-19 yet again:
Nonetheless, fiscal stimulus is coming.
On Monday evening, President Trump and his Coronavirus Task Force held a press conference.
Watch it in its entirety below (begins at approximately 1:32:00):
Additionally, Steve Mnuchin also had some things to say about what the government is doing for the economy.
Some of the things he said were:
- Mnuchin is working very closely with Powell to handle the situation.
- Relief is coming for those impacted by this – individuals in quarantine, affected small businesses, and others.
- Relief in the form of liquidity is coming to businesses and individuals.
More details about what is taking place should be forthcoming today, Tuesday.
Article originally published on Silver Doctors by Paul “Half Dollar”