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301: The Corona Economy Apr 11, 2020

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Finally, some good news! And... Some bad news. I'll give you my take on why Trump is attacking the WHO, and the awful, no good, terrible plan to "fix" oil prices.

Plus, my reaction to Sanders pulling out of the race, the leverage he might still have left.

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$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

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Episode 295: Pandemic Cash Pump Mar 26, 2020

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The bailout battle is close to an end so let's dig into what's in this bill, and this business about a Digital Dollar that might have snuck in there.

Plus, my take on the latest Coronavirus news and the election battle heating back up.

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Senators threaten to delay coronavirus relief bill — Sen. Bernie Sanders later released a statement saying that unless the senators drop their "anti-worker objections," he is prepared to block the legislation in order to impose "strong conditions on the $500 billion corporate welfare fund."
Trump's businesses barred from bailout money — "It’s not aimed just at Donald Trump, but at anyone in high office," Schumer told MSNBC's "Morning Joe."
Jerome Powell: Fed Weighing Costs, Benefits and Trade-offs of Digital Currency — Federal Reserve Chairman Jerome Powell answered questions posed by Rep. Bill Foster (D-Illinois) regarding the competitive threat to the U.S. dollar's status as a global reserve currency by China's ambitions to create a digital yuan and the proposal of Libra. Source: Financial Services Committee hearing, Feb. 11, 2020.
This was the fastest 30% stock market decline ever
Fed announces unlimited QE and sets up several new lending programs
Trump Administration Asks States To Withhold Unemployment Numbers — The United States Department of Labor sent an email to state officials asking them to only use loose terms like "very high" or "large increase" when talking about unemployment rates and not mention specific numbers, according to the Times.
Cashing In: How to Make Negative Interest Rates Work — In a cashless world, there would be no lower bound on interest rates. A central bank could reduce the policy rate from, say, 2 percent to minus 4 percent to counter a severe recession.
How To Keep The Digital Dollar Democratic — On March 23rd House Democrats did something I and many others have been advocating for some time – draft plans to legislate into existence a digital dolla
'Digital Dollar' Stripped From Latest US Coronavirus Relief Bill — House Democrats' latest version of the "Take Responsibility for Workers and Families Act," revealed late Monday, does not contain any language around a "digital dollar" in its section on direct stimulus payments.
How To Keep The Digital Dollar Democratic — On March 23rd House Democrats did something I and many others have been advocating for some time – draft plans to legislate into existence a digital dollar, along with a system of digital wallets
Fed Digital Dollars Are Part of Debate Over Coronavirus Stimulus
White House, Senate reach historic $2 trillion deal — The White House and Senate leaders struck a major deal early Wednesday morning over a $2-trillion package to provide a jolt to an economy
Gallup: Trump job approval rating matches all-time high — The 49 percent job approval rating is the high mark for Trump since he came into office.
The Evening News Is Back - The New York Times — The coronavirus has put tens of millions of viewers back in the 6:30 p.m. habit.
The Fox News whipsaw on coronavirus — But now, Fox’s pundits have changed their minds once more — and Trump is listening.
Pentagon sees coronavirus crisis lasting several months — "I think we need to plan for this to be a few months long at least," US Defense Secretary Mark Esper said
Dow gains fade as $2T coronavirus pkg. meets Democratic opposition
House unlikely to get bill to Trump by Wednesday — The House is unlikely to vote on a $2trn coronavirus economic stimulus package on Wednesday as leaders wait for the Senate to first approve it, according to a senior Democratic aide.
Senate aid package quietly sets aside $17 billion for Boeing
Marijuana Inc: Inside America's Pot Industry — CNBC goes behind the scenes to explore the inner workings of this secretive industry, focusing on Northern California's "Emerald Triangle," now the marijuana capital of the U.S. In this scenic pocket of America, the pot business, much of it legal under state law, now makes up as much as two-thirds of the local economy.

Episode 294: Worldwide Lockdown Mar 24, 2020

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The police are set to enforce a UK lockdown, while in the US the full impact of the Coronavirus and the shutdown is starting to become clear.

Plus history on oil production in the United States, and the series of events triggered by the dropping price of oil.

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Britons placed under lockdown — Police to enforce UK lockdown
Gov. Inslee issues 'stay at home' proclamation for Washington state — Gov. Inslee has signed a statewide proclamation for all Washingtonians to stay at home for the next two weeks.
U.K. Prime Minister orders nationwide lockdown
Biden: Trump's 'failure of planning and preparation' worsened coronavirus crisis — Volume 90% Former Vice President Joe Biden on Monday accused President Trump of dithering in the early days of the coronavirus, saying that a “failure of planning and preparation”
US coronavirus: Death toll grew by more than 100 on Monday as governors instituted even more rules
WHO Changes 'Social Distancing' to 'Physical Distancing'
Fed barrage to help markets includes open-ended QE asset purchases — Among the moves is an open-ended commitment to keep buying assets under its quantitative easing measures.
Chancellor Angela Merkel in quarantine after contact with doctor who tested positive for coronavirus — Merkel decided to immediately quarantine herself in her home, German government spokesman Steffen Seibert said.
Sen. Rand Paul tests positive for coronavirus — Sen. Rand Paul (R-Ky.) has tested positive for the coronavirus, his office announced on Twitter Sunday.
At New York prison, Harvey Weinstein put in isolation after contracting virus — Weinstein, who turned 68 last Thursday is being isolated at Wende Correctional Facility in Western New York, officials told CNHI Sunday.

Episode 293: Coronavirus Cash In Mar 22, 2020

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Senators cash in on advanced warning of the Coronavirus, the key moments from the week's news, and further analysis of the impending recession.

Plus a some details on the future of your Unfilter show!

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How To Save The Economy Now : Planet Money
Financing efforts from Fed and Treasury could be $4 trillion — The Federal Reserve and Treasury are working on financing programs that could be worth $4 trillion, Treasury Secretary Steven Mnuchin said Sunday.
Glenn Greenwald on Twitter — "Joe Biden's omnipresence, steely calm and inspiring leadership has shown the US what A Real President does in times of crises. Oh wait -- has anyone seen Joe?"
Trump pushes back on Washington Post report
Intelligence Reports Warned Of Coronavirus Pandemic Long Before Trump Admin Took It Seriously
Trump Shrugged Off Repeated Intelligence Warnings About Coronavirus Pandemic — “The system was blinking red,” an intelligence official told The Washington Post, but no one could get Trump to “do anything about it.”
Event 201, a pandemic exercise — The exercise illustrated areas where public/private partnerships will be necessary during the response to a severe pandemic in order to diminish large-scale economic and societal consequences.
Senator Richard Burr Warned Of Coronavirus Effects In Private Meeting