In a recent report, Financial Advisor John Williams discussed the potential impact of a proposed multi-trillion dollar stimulus package on the US economy. Here’s what he said.
Williams began by sharing the concerning trend of Americans accumulating significant credit card debt, which has reached an all-time high exceeding a trillion dollars.
The proposed stimulus package includes various measures to provide relief to struggling Americans. Among these are $1,400 direct payments to millions of individuals and significant aid earmarked for small businesses, including over $28 billion allocated specifically for restaurant owners.
Happy to share as this illustrates the arbitrary nature of other rules given the McKelvey Rule's perfect track record.
Critical note: The payroll revisions which revealed 192,000 job losses in Q3 2023 MESH w/Rule given it was triggered THREE MONTHS into 1973 and 1981 recessions. t.co/OjRsFN5UGN pic.twitter.com/eAqkjyhYiv
— Danielle DiMartino Booth (@DiMartinoBooth) May 7, 2024
Our economy is run by morons.
Last week we learned that Joe Biden's chief economist literally has no idea how money works — indeed, he has no idea how debt works.
These MMT morons are implanted across the administration. Spending as much as humanly possible without the… pic.twitter.com/xIvchX1KdP
— Peter St Onge, Ph.D. (@profstonge) May 7, 2024
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