What will be the Economic Impact of the Bipartisan Infrastructure Bill?
Interview op’ with Jack Hanney (in Eastern Time) by Skype, Zoom or Phone
Topic: With trillions of dollars have been printed to give Covid relief, we are in uncharted territory with economists differing on just what size cutbacks we need to make to save our economy to avoid runaway inflation.
But instead of cutting back, Senate Democrats appear to have twisted enough Republican arms to print a trillion more dollars to fund their colossal Infrastructure Bill that is largely political pork and perks.
Commenting on the likely impact to our economy if this perverbial trillion dollar straw is put onto the Uncle Sam’s back, is economic commentator Jack Hanney,) CEO of Patriot Gold Group.
Q&A:
- What’s going on with our leaders in government? Is there any end in sight to printing money? Will this gravy train ever end? As long as this Administration is in office their answer for everything is print and dole out more money to address the “structural problems in American Society”
- Democrats released their $3.5 trillion budget resolution and now are prepared to pass a $1 trillion so-called bipartisan infrastructure bill. That’s $4.5 trillion dollars with a couple strokes of a pen. How long ago was it when our entire budget was less than $4.5 trillion? Of All the money that’s EVER been printed since the inception of The United States 40% of it has been printed in the last 15 months addressing the Covid Pandemic.
- Just what’s in this pork-packed bill? Universal Preschool, Free Community College, the Dems stuffed $25M in the CARES Act to the Kennedy Center for the Arts, what did that have to do with Covid?
- With unprecedented high spending we are seeing today, what are the prospects for inflation? We’re already seeing double digit inflation, groceries and gasoline have doubled, building supplies tripled, we have 70’s era hyperinflation going on right now and The Fed is backed against a wall, either a Volcker Moment like Fed Chair Paul Volcker raised rates 1980-1982 causing a double dip recession or the US Dollar will disintegrate due to hyperinflation.
Answer: It’s not a question of if, but when. Of course, there will be inflation. Just as most roofers learn, as much as they are careful balancing on slanted roofs, at some point in their careers, the law of gravity kicks in and they fall. The law of supply in demand is the same. While you can cheat death on the short term, spending like this is the recipe for the death of the dollar. - How will Wall Street likely react to this spending spree? It’s really all a matter of interest rates once they raise rates the party’s over.
- What’s your read on Bitcoin? It’s recently plummeted and since has soared again.
Answer: Why buy bitcoin when you can buy real coin such as real gold and real silver coins? They are the best hedge against inflation since as the dollar goes down and inflation goes up, real gold and silver coins typically go up.
- Where may we get more information on this topic on the opportunity to learn more about investments in gold and silver?
ABOUT JACK HANNEY…
Jack Hanney has been in the financial markets for 25+ years and is widely heralded as an expert in his field.
Jack was born and raised in Westchester County, NY. Jack subscribed to The Wall Street Journal at the age of 14 and moved to California in his early 20’s to study under Investor’s Business Daily founder William O’Neill.
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 cofounding Patriot Gold Group a collective of Industry-Leading Experts bringing their clients Investor Direct Pricing and superior customer service.
Jack has written over half a billion dollars in business and trades maintaining outstanding relationships with his clients at Patriot Gold Group (PGG), where he is a senior partner. Jack resides in Los Angeles, California with his wife Amy and is the proud father of his two daughters, Kate age 13 and Luna age 21 & their two dogs Roxy & Daisy.
CONTACT: To schedule an interview with Jack Hanney, email Special Guests at 919-437-0001 jerry.specialguests@gmail.com or Celinda Hawkins at cemison@gmail.com or call 432-349-2736.
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