Guest: Economist Jack Hanney available by Zoom/Skype from Los Angeles/Pacific Time
Intro: When the first pandemic stimulus package, the CARES Act, was passed it was with the assumption the crisis would have passed by July 31, when the last enhanced federal unemployment benefits ended. But that didn’t happen and when the lockdown and economic pain continued it was obvious a second package was required. House Democrats viewed this as a chance to lard up a second bill and passed a 3-trillion stimulus package that also earmarked money for long failing local and state governments. President Trump and Senate Republicans refused to pass this package and introduced their own 1-trillion package, something which would have helped millions of Americans and they knew it.
Democrats are now being views as a obstructing help for the American people for purely political reasons.
Q & A:
- House Speaker Nancy Pelosi was making a daring calculation that might be backfiring, the American people see Trump putting forth a bill to help them and Pelosi stops it for near political reason. What do you think?
A: Absolutely, when your average citizen can’t go to work and sees their lifeline federally enhanced unemployment and end and get bogged in party politics then it is someone’s fault. Clearly House Speaker Nancy Pelosi is playing with fire when the citizens see Trump’s proposals to help them directly falling on her deaf ears.
- What was Wall Street looking for in the stimulus bill; the big one or just something to keep consumers from completely falling off the cliff?
A: Clearly Wall Street needs some kind of signal, many major retailers have been dramatically helped with consumers still able to purchase goods and services. It might be that Wall Street just doesn’t want stalemate like this during a crisis.
- Gold can sometimes be a false flag for economic progress or retraction, and everyone knows perception can often be more important than reality. Can Wall Street handle the perception of a prolonged lockdown going into the fall, winter and holidays?
A: As in the 2008 downturn, it was all about knowing the safety net is there to allow for the economy to stay in safe mode until better times are created. But if you have politics interfering in a health crisis turned economic debacle, where everyone is shooting in the dark for answers, then the perception is we are all lost in the dark. People and business leaders need assurance and support and the Democrats are hindering that assurance right now.
- Do you believe many on Wall Street are also contributing to the fear for their own political reasons?
- Not only are Democrats seeing as obstructing the stimulus aid package, they are also perceived, quite rightly, as doing nothing to discourage the violent social unrest destroying billions in wealth and creating another kind of fear for the future. Could this be like a double whammy of Democratic inspired economic destruction?
A: How could it not be seen that way. Live have been lost and cities torched while Democrats use the unrest to further their own causes. Smart citizens can see this for what it is; never let a good crisis go to waste is what hard core leftists always trumpet at time like this.
- Where may we get more information on your company, Patriot Gold Group, investments and the economy?
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.
CONTACT: Rachel Ford rford.specialguests.com or Jerry McGlothlin 919-437-0001 jerry@specialguests.com
