Years ago, the business advertising phrase that was the catchiest was, “When EF Hutton Talks, People Listen.”
But today it might as well be, “When Trump Talks Coronavirus, Stocks Tank.”
Regardless of how many trillions of dollars Trump and the Fed pump into the economy, it seems when the President delivers live Coronavirus updates, investors take heed, especially with his latest forecast of 100,000 to 240,000 coronavirus deaths likely in the next two weeks.
Commenting on the correlation between Trump talks and the volatile stock market, is economist Jack Hanney, CEO of Patriot Gold Group.
Q&A:
- The Dow dropped 800 points Wednesday. Is that a direct response to the grim coronavirus talk Trump just gave?
- The S&P plunged 4% and Nasdaq saw a 3.7% drop. Does this look like a trend if Trump’s somber live chats continue?
- What other economic ‘laws of unintended consequences’ do you see occurring due to drastic measures being imposed by governments on billions of people?
- The Fed is printing an unprecedented amount of new dollars. What does that do to the value of the dollar?
- They are talking about trillions of dollars more in stimulus, meaning printing even more money. If we cross that invisible line of too much, what might we looking at soon in the form of inflation or even hyperinflation? How much more can government water down money before it becomes worth less—or worthless?
- Can you give some examples of hyperinflation and what that looked like historically elsewhere?
- What protection do we have against inflation eating away at the money we receive from the stimulus relief?
- Where may we receive more information on these matters and proper investing?
Reference article: https://www.investors.com/market-trend/stock-market-today/dow-jones-plunges-stocks-routed-trump-coronavirus-outlook/
ABOUT JACK HANNEY…
Jack Hanney has been in the financial markets for 20+ years and is widely heralded as an expert in his field.
Born and growing up in Westchester County, NY where his father was a successful politician and owner of an Insurance Brokerage Firm. Jack began subscribing to The Wall Street Journal at the age of 14 and moved to California in his early 20’s to study under William O’Neill, arguably the single most successful investor in the history of the markets and founder of Investor’s Business Daily and author of How to Make Money in stocks.
Jack Hanney went on to be the General Manager and Director of Sales at several algorithmic automated trading companies trading the futures and commodities markets working with Introducing Brokers out of Chicago, Geneva and NYC. Jack was recruited by several tech startups and made a name for himself at Infosearch Media, Virtumundo and The Design People before returning to Finance. Jack passed on Morgan Stanley and other reputable, prestigious Brokerage firms to be a CFP in their Wealth Management Divisions and opted for a position as Senior Executive Trader with MG Private Client Services where he spent 4 years 2010-2014.
Jack Hanney had spent two years as Director of Trading, Executive Vice President of WDM overseeing the Retail Division before collaborating with two other prominent experts in his field and opening Patriot Gold Group a collective of Industry-Leading Experts bringing their clients Investor Direct Pricing and superior customer service.
Jack has written over 200M in business and trades maintaining outstanding relationships with his clients at Patriot Gold Group (PGG), where he is a senior partner, who he refers to as dear friends and family and now … welcoming them to the PGG family of investors. Jack resides in Los Angeles, California and is the proud father of his two daughters, Kate age 10 and Luna age 18.
