National Economic Council Director Larry Kudlow discusses what economic options the U.S. government has to mitigate and assist businesses and individuals dealing with the financial impacts of coronavirus.

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Note to Mr. Kudlow: Do not trust Dr. Anthony Fauci.

Fauci is a purposeful panic seller. His goals are not the administrations goals.

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After President Trump decided to take the coronavirus test, the physician to the President releases the following information:

Democrats/media react:

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After an evening meeting with Treasury Secretary Steven Mnuchin, HHS Secretary Alex Azar and Labor Secretary Eugene Scalia, President Trump has announced his support for House Resolution 6201 – The Cononavirus Response Act.

You can find the text of the House Bill HERE

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It took some digging but we found it. The 2020 Coronavirus Response Act is H.R.6201 [SEE HERE].

Speaker Nancy Pelosi is saying the Democrats and White House have made an agreement to pass the content of the Coronavirus Response Act.  However, there is no confirmation from the White House (yet).

President Trump is meeting with Treasury Secretary Steven Mnuchin in the White House right now.

WASHINGTON – House Democrats and the Trump administration reached agreement on a coronavirus response package Friday after a day of grueling negotiations, House Speaker Nancy Pelosi said.

“We are proud to have reached an agreement with the Administration to resolve outstanding challenges, and now will soon pass the Families First Coronavirus Response Act,” she wrote to Democrats after hours of back-and-forth with Treasury Secretary Steven Mnuchin.

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The White House has announced that magnanimous big tech firm Google has ‘voluntarily’ joined the federal government (within the national state of emergency) to assist citizens with the effort to voluntarily ‘test’ for the coronavirus.

As announced the details are under rapid construction, but don’t worry during a crisis there’s no need for prudent pause.  Trust is a currency.

President Trump noted today that over 1,700 data collection engineers from ‘big tech’ Google have been assigned by tech executives to create the system.

Google is undertaking this effort as a ‘free service’ to the American public. Everything is free, including the test.

Soon you will be able to use your hand-held transponder to sign-up, register for testing, and find your local neighborhood testing (dna collection) site.

Also noted, in a partnership with big corporate multinationals like Wal-Mart, CVS and Walgreens, citizens will be able to drive up to their local parking lot and have coronavirus ‘testing’ done without ever leaving your vehicle.  There will likely be instructions to bring your transponder (phone) with you to facilitate a faster ‘check-out’ process.

As soon as the other big tech and social media companies recognize the proactive nature of the system it’s likely Apple, Facebook, Twitter and all social media platforms will create links to the Google HHS data-hub to assist with citizen registration and fulfillment.  Lots of that pesky red-tape eliminated under the necessary framework of a national emergency.

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Thankfully Florida elected Ron DeSantis as governor instead of this guy.

Florida authorities responding to a drug overdose located three men in a hotel room. One man was overdosed and needed paramedics.  There were bags of crystal meth found in the room and one of the men incapacitated was former Tallahassee Mayor, former Florida gubernatorial candidate, and current CNN contributor Andrew Gillum.

MIAMI – A police report about an apparent drug overdose in a Miami Beach hotel room overnight Thursday says that one of the three men present in the room was former Florida gubernatorial candidate Andrew Gillum.

Three small plastic bags containing suspected crystal meth were found in the room, the police report said.

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The House Rules Committee previously released the text of proposed changes to FISA (full pdf).  The “deal” is intended to reauthorize the FISA “business records provision”, the “roving wiretap” provision, the “lone wolf” provision, and the more controversial bulk metadata provisions [Call Detail Records (CDR)], all parts of the Patriot Act.  However, key Senators and President Trump say not enough being done to change it.
The current FISA authorities expire on March 15th; it looks like they will lapse as Mitch McConnell tries to regroup for a possible vote next week.  McConnell was forced to delay consideration past the expiration date after Senators Mike Lee (R), Rand Paul (R) and  Ron Wyden  (D) said they would object.

WASHINGTON DC – President Trump told Sen. Mike Lee (R-Utah) on Thursday that he does not support a House-passed surveillance bill— raising fresh questions about the fate of the legislation.
A spokesman for Lee confirmed the conversation and that the president told the Utah Republican that he does not support the House legislation. Officials speaking for the White House did not immediately respond to a request for comment.

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Speaker Nancy Pelosi is attempting to exploit the coronavirus issue to pass a litany of permanent laws inside what was supposed to be a temporary legislative bill to assist those economically impacted by the coronavirus mitigation efforts.

Two issues are stark: (1) permanent and mandatory paid sick leave; and (2) a massive and permanent increase in medicare spending to benefit health insurance companies.

(Via The Hill) […] “There’s a couple major problems with it. Here’s one glaring problem: Under [Speaker Nancy] Pelosi’s bill, the Social Security Administration will be set up to administer the paid sick leave program. Now this will take more than six months, so it won’t work in time. It will also hamper the administration from putting out Social Security for those who need it right now that are in harm’s way,” he added.

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The stock market is not the U.S. economy.  The stock market is an investment instrument.
Yes, the downstream consequences from coronavirus mitigation efforts means there is likely going to be temporary, very specific, fluxes within the Main Street economy.  Entertainment, hospitality and leisure are likely to see the strongest initial impacts. However, as noted by the release of weekly jobless claims the U.S. economy is very strong.

WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits unexpectedly fell last week as employers continued to hold on to their workers.
Initial claims for state unemployment benefits dropped 4,000 to a seasonally adjusted 211,000 for the week ended March 7, the Labor Department said. Jobless claims are the most timely labor market indicator. They have declined for two straight weeks.

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The level of media opposition and snark against President Trump is simply so ridiculous at this point there’s a desperation to it.  So let us consider…
From the outset of Donald Trump’s entry into the world of politics he espoused a series of key tenets around what he called his “America-First” objectives:

1. The U.S. needed to have control over our borders, and a greater ability to control who was migrating to the United States.  A shift toward stopping ‘illegal’ migration.
2. The U.S. needed to stop the manufacture of goods overseas and return critical manufacturing back to the United States.  A return to economic independence.
3. The U.S. needed to decouple from an over-reliance on Chinese industrial and consumer products.  China viewed as a geopolitical and economic risk.

Donald Trump was alone on these issues.  No-one else was raising them; no-one else was so urgently pushing that discussion. In 2015, 2016 and even 2017, no-one other than Trump was talking about how close we were to the dependence point of no return.
Given the status of very consequential issues stemming from the Chinese Coronavirus threat; and the myriad of serious issues with critical supply chain dependencies; wasn’t President Trump correct in his warnings and proposals?
In early 2017 President Trump and his administration coined the phrase: “economic security is national security”, and the economic team set about starting a very complex process to ensure the past three decades of trade policy was reversed.
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