Written and Presented by Miguel Hernandez
Day 12 or Day 13 of the quarantine I believe. I just heard on the news that the Senate finally passed the Coronavirus Senate stimulus package and if everything goes as planned desperate Americans that are living on the margins will have a temporary financial relief provided to them by way of the government ($1200 dollars per american and $2400 per couple I hear).
What I’m worried about is how all this is how it’s going to end up impacting our currency – the inflation rates and so have you. On Twitter, I heard one of the top officials of the Federal Reserve speak and tell investors how they shouldn’t worry because there is an indefinite amount of cash reserves the the Fed can print out at any time. – Of course I’m paraphrasing, but at the core, it’s a scary thought.
I am no economist and I’m the first to admit that I am a moron when it comes to the financial market and stock markets. I am not financially savvy, but I am informed and the more Informed I become, the more knowledgeable I get.
I’d like to get more informed and I take a humble approach when it comes to learning. But what I’ve come to find out is that neither do these so called politicians and scientist that have these algorithmic models to predict the impact of the Covid-19. Sure, they know the present day impact and other countries are much better than others at predicting this disaster, but who would have predicted that the “black swan” that is the Covid-19 would have turned into a global pandemic!
Pandemic aside, the 2ndary and 3erary effects that follow the Covid-19 is something that is worrisome. People can’t work so there isn’t any money coming in, people can’t spend because of the current ‘stay-at-home’ restrictions so even if the economy suffered from a demand problem, like they currently are – they can’t spend. Businesses are going under.