Nancy Pelosi faulted President Donald Trump for supposedly fiddling in his early handling of the coronavirus, which allegedly cost American lives. But others including the Rev. Franklin Graham say it’s the other way around, that it was Nancy Pelosi who wasted days packing pork and pet projects into the $2 trillion relief bill to allow its passage.
Commenting on this matter is economist Jack Hanney, CEO of Patriot Gold Group.
Q&A:
- What price are Americans going to pay in the long run for the short term $2 trillion stimulus bill?
- If not for Pelosi pork, including a $39,000 per year permanent raise for Congressmen, each American would be receiving closer to a $13,000 government check, so where did all the money go?
- Without our being on a gold standard, isn’t this ‘free’ money just watering down the current money supply?
- How much more can government water down money before it becomes worth less—or worthless?
- They are talking about even more 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?
- 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?
- Why do you suppose there was no money packed into that bill that would have allowed Trump to build his Wall to keep out potential COVID-19 carriers?
- Where may we receive more information on these matters and proper investing?
NOTE: Some of the questionable “relief” spending the $2 trillion bill, as reported by Fox News, includes the following,
$10,804,687,000 for international development
$350,000,000 for refugee resettlement
$93,000,000 Congress ($25 million of which is for “salaries and expenses”)
$75,000,000 for PBS stations
$75,000,000 for the National Foundation on the Arts and Humanities
$75,000,000 National Endowment for the Humanities
$50,000,000 for the Institute of Museum and Library Services
$25,000,000 for the Kennedy Center for Performing Arts
$7,500,000 for the Smithsonian Institution
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.
