Congress is looking at a THIRD economic stimulus package, the Federal Reserve has cut rates to zero – meaning that the Federal Reserve now has very limited ability to help the US economy going forward.
And stock futures are limit down.
Why is this happening? Four states (and others will likely follow) decided to close all restaurants and bars, some until the end of the month. State and local governments are finally doing it: They are going to nuke the economy.
This is millions of people suddenly out of work, and all the problems with making rent, making mortgage payments, making credit card payments, making auto loan payments, feeding their kids, feeding any other generations that are living with them. And so on and so on.
In some of these states, they have a couple dozen cases. That’s a couple dozen infected people… Not people who have died from or even been hospitalized for the illness. But millions will have their financial lives absolutely destroyed.
Next up: Governments wondering where all this crime came from.