White House Now Promising 2 $1,000 ‘Helicopter Money’ Checks For Adult Americans: Live Updates
by Tyler Durden
ZeroHedge.com
Wed, 03/18/2020
Update (1110ET): The EU has reportedly decided on a plan that will ‘pave the way’ for the ECB to make the bond purchases that it has promised.
In other news: Amid the market carnage, Wal-Mart shares climbed 6.1% higher on Wednesday to hit a fresh record high. In Canada, PM Trudeau confirmed that the decision to close the northern border was a mutual decision.
And once after again trashing President Trump’s fiscal plan of giving every American $1,000, Senate Minority Leader Chuck Schumer said Wednesday that the payments to Americans need to be “bigger” and “more frequent”. He’s not the only one: Bernie Sanders said he would double the amount to $2,000 per adult American during a post-primary announcement on Tuesday. Even Andrew Yang tweeted that he was “consulted” about his infamous ‘freedom dividend’ policy.
Like a teenager intent on acing that first job interview, when it comes to the market chaos, the White House simply won’t take ‘no’ for an answer, and has repeatedly tried to jawbone us out of this crisis, even as the reaction has made plain that only concrete action from the Trump Administration and Congress can save us from this meltdown.
Steve Mnuchin was in the middle of an interview with CNBC Wednesday morning when the Washington Post reported that the White House now intends to send two $1,000 checks to adult Americans, in addition to the $300 billion in ’emergency liquidity’ (ie zero-interest loans) it’s also promising.
Here’s a few headlines from the Mnuchin interview.
MNUCHIN PROPOSES $500B IN AID CHECKS PAID IN TWO INSTALLMENTS
MNUCHIN SUMMARIZES VIRUS AID PROPOSAL IN FACT SHEET
U.S ALSO OUTLINES $200B IN CORPORATE AID, $300B SMALL BUSINESS
CHECKS TO AMERICANS WOULD COME ON APRIL 6, MAY 18 IF APPROVE
In a few minutes, we’re bound to hear more from the White House task force.
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Update (1000ET): In a statement released by the Pentagon, 49 American members of the American military have now tested positive for the virus, 13 more than Tuesday.
Three of them have been hospitalized.
In addition, 14 DoD contractors have tested positive, 19 spouses of service members and 7 contractors.
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Yes…Good idea! Give every American 1K/2K…any amount! What does it matter when you’re confined to your home under martial law? How is the money going to be spent when most stores and restaurants are closed? Not to mention, hyper-inflation by swamping main street with free worthless money. They must think everyone of us are stupid. Keep your fiat currency. How about sending every American a 1 ounce gold coin instead. At least it will be worth something when all this is over.
The banks wouldn’t be able to cash the fucking things. How ludicrous.
Banks aren’t gonna cash any chks anyway, David, it will be electronically deposited for you, just like most tax returns. But I’d much rather have a 1 ounce gold eagle vs the $2K…… any day…… much more value in the long run.