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.

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Links:

• Episode 985: Where Do We Get $2,000,000,000,000? : Planet Money : NPR
• Trump signs $2.2T stimulus after swift congressional votes
• Trump signs $2 trillion coronavirus stimulus bill
• Boeing to Emerge as Big Stimulus Winner - WSJ
• Factbox: 'Mr. No': Meet the U.S. congressman who requested a formal vote to delay the coronavirus bill - Reuters
• Trump signs $2.2tn coronavirus stimulus package into law | US news | The Guardian

$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
• Coronavirus could kill 81,000 in U.S., subside in June -...
• Weekly mortgage applications tank 29% as coronavirus stops homebuyers
• U.S. auto sales in states with coronavirus lockdown orders to drop 80%: analysts - Reuters
• Why the Fed’s Bazooka Will Not Stop a Wave of Corporate Defaults | Council on Foreign Relations
• Wall Street Cheat Sheet: Psychology of a Market Cycle
• US virus deaths may top 80,000 despite confinement: study
• Coronavirus stimulus bill: When $2 trillion is not enough - Axios
• 3.3 million seek US jobless aid, nearly 5 times earlier high
• Excerpt: Joe Biden's accuser finally tells her full story by Katie Halper
• Mayor Garcetti announces water and power will be shut off for nonessential L.A. businesses that don’t close | KTLA
• Senators threaten to delay coronavirus relief bill with last-minute objections - Axios
• Trump's businesses barred from bailout money in Senate coronavirus bill
• Jerome Powell: Fed Weighing Costs, Benefits and Trade-offs of Digital Currency - YouTube
• This was the fastest 30% stock market decline ever
• Fed announces unlimited QE and sets up several new lending programs - MarketWatch

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