Here’s the latest on the next rounds of stimulus.
First, Steve Minuchin (at the time of this article) is talking to Senators in what’s seen as the possible final step in making a covet deal. This is because steve mnuchin is the one who spearheaded the ending of the five cares act lending
programs and that ending of that program is what’s currently holding up stimulus negotiations steve mnuchin is talking to senators
probably on this and if that meeting goes well we could be done once we solve that one problem we’ve got a cova deal senator coons thinks because of this
that we could actually see a deal within the next hour to hours now i’m not going to hold my breath i mean i got coffee i’m ready for the day we’ll see what it brings
but this new deal will also have some very important consequences for the future of market crashes which i’m going to touch on in a moment so if you’re an investor you want to pay attention to
this part as well nancy pelosi spoke this morning on a private caucus call a zoom call and stated that a deal is within reach as soon as we solve the tumi provision
again what mnuchin is talking about so we’re pretty dang close here she in fact said quote everything will fall into place once we solve that this means what we
could do right now is we could take a quick look at what provisions are currently included and what we expect to basically just get resolved almost instantly once we have the tumi
provision done so let’s just take a quick look we still don’t have a and you could pause on this i’m just going to go fast here we still don’t have the text of the
600 bill uh we’re expecting the checks
to be six hundred dollars per adult bernie sanders really walked back his demand for twelve hundred dollars he kind of turned his demand into
i will uh object to anything that doesn’t provide substantial payments to families so he’s kind of really walked back on it’s got to be twelve hundred dollars
he’s advocating for twelve hundred dollars but at the same time he’s saying i’ll only object unless there’s substantial payments to families which is so vague that it’s probably gonna
include six hundred dollars now uh we’re still not sure if uh if the double dip exemption will be in here we’ll see as soon as this bill comes out that if
you’re on unemployment you may or may not be able to get a stimulus check we do believe so far that if an itin family member is in a family children
and spouses will still qualify uh unemployed we’re possibly going to see the unemployment boost go down to as low as 10 weeks honestly just a slap in the face over
here to the unemployed i mean we’ve gone from 16 to maybe 12 to 13 to now potentially as low as uh as ten weeks here uh so then we’ve got on the uh
you know small business provisions the same 325 e idl included ppp extension all of these other items the same again you could pause here and screen a shot uh some of these provisions here
still unsure if we’re going to extend that eviction ban i expect that they will because you need to give people time to actually process uh potential eviction
bailouts here since we are getting about 25 billion dollars
in rental assistance so uh then of course we’ll find out what’s going on with the sos act
that’s 17 billion dollars for uh live venue operators the fema funding a lot of these smaller provisions those will just get hammered out
the big issue really is it’s just the pat toomey amendment the provision this has to do with those five karzak lending programs i’ve slammed these before they were not very effective
they were more symbolic than they were effective but honestly it’s coming down to politics in fact i wrote over here republicans right now are just trying to sort of
bind biden to show republican supporters and voters that the purse strings have been tightened on biden you know republicans are keeping the
thumbs sort of on biden that’s what they’re trying to show off ahead of the january 5th election democrats say look well look you know the purse strings weren’t tight for
trump when trump inherited the pandemic you know all of a sudden it’s like oh crap you know let’s have these lending facilities at the fed that introduces a
lot of confidence to the market in coordination with the treasury department and that was without the aid of congress the fed was able to do that quickly
and so democrats are like why is it fair that if biden ends up having some kind of crazy crisis that pops up he wouldn’t have the same liberties
that’s it it’s politics you know you get ro khanna saying there’s no reason for this it’s ridiculous stop sabotaging the biden administration
you get people like elizabeth warren saying hey the fed is opposed to this this isn’t fair and obviously that’s what you’re expecting from the democrats republicans are like we don’t have this
money to spend why don’t you just ask congress if there’s a problem hey we’ll act but the reality is the federal reserve during the pandemic
they acted like three and a half weeks before congress got their butt moving and i mean quite frankly who would you rather be driving an ambulance
jerome powell or mitch mcconnell and nancy pelosi all right like i think we all agree let just just the programs don’t matter just let the programs exist like figure
this out this shouldn’t be holding up the stimulus package just it’s really frustrating but anyway leadership’s goal is to finalize a deal today because they’re
trying to vote on this tomorrow the vote is scheduled for 1pm tomorrow in the house and we really need a deal today to actually be able to get that vote on time
tomorrow senator john thune you know he’s usually not the most optimistic character he says it’s very possible that talks could extend uh into monday but
i’m starting to think that his lack of optimism is honestly just realism uh so well mostly because congress keeps missing every single deadline they set also not uncharacteristic so maybe he’s
right anyway if talks keep going it’s entirely possible we won’t see a deal until like christmas eve or really the wednesday before so wednesday thursday of next week
which if we go to next you know wednesday thursday for a deal probably not going to see checks this week if we get a deal past or this year rather if we get a deal
passed this week it’s entirely possible that some of the first checks could go out uh in sort of that last week of this year right after christmas
that is it’s entirely possible we could see stimulus checks the first one start arriving as early as the 29th now i’m not going to hold my breath on that
uh who knows but we’ll see now again ambitious school here to get a deal done today but uh that’s that’s the latest in terms of what’s going on this morning i
watched mitch mcconnell on the floor chuck schumer on the floor they didn’t tell us anything new no new statements it’s really just leadership talking
with each other right now about the toomey amendment in other news news yesterday i did make a mistake i mentioned that some people who had been diagnosed with bell’s palsy in the
modern and pfazer vaccine trials uh some of them were on a placebo this was not true uh the cases that where bell’s palsy did occur uh did come from
people who did actually receive the vaccine so i’m sorry about that that was a mistake from yesterday’s video london is also going into an emergency lockdown mostly because there’s now a
sign that there could be a new strain of coven that spreads much faster than other strains of covid now so far they’re saying no need to panic
like this should have no impact on the vaccine that’s going around i mean i don’t know i’m not a scientist but that was the first thing that popped in my head that’s just what they’re saying
but they are wanting to contain this because obviously everybody’s not vaccinated yet anyway thank you so much for watching check out the courses down below get
your life insurance get your four free stocks all with the links down below holiday sale going on on the courses and folks we’ll see you as soon as we get a deal
hopefully it is within the next few hours i’m ready coffee’s ready let’s g0
