Sometimes a special message needs a special messenger.  Today, amid the anxiety and stress created by the coronavirus pandemic, a very special messenger named Michael visited the White House and delivered a very important message to everyone:

…”At Bitty and Beaus we like to use the phrase ‘not broken’. That means me and all my important co-workers are not broken, and we have lots to offer. I know the great country of the United States isn’t broken either.”…   ~ Michael

.

Indeed, this too shall pass.

Thank you Michael; thank you.

(more…)

President Donald Trump delivers remarks from the East Room of the White House on the Paycheck Protection Program, part of coronavirus relief package known as the CARES Act, that is set up to help small businesses continue to operate and pay employees during the economic downturn caused by the COVID-19 pandemic.

UPDATE: Video and Transcript Added

.

[Transcript] – THE PRESIDENT: Well, thank you very much everyone. This is a great honor. And I see you have social distance on your mind and that’s a very good thing. Jovita, congratulations. Tremendous job you’re doing.

I want to thank everyone for being at the White House — a very special house, a very special place. No matter where you go in the world, they love the White House. And being here in the East Room of the White House in particular, where so many important functions have taken place over the years.

(more…)

Holy cow, Illinois is asking for a $40 billion bailout with $10 billion targeted to fund their pension liabilities?  These blue spenders are nuts.

Treasury Secretary Steven Mnuchin appears on Fox Business to discuss the ongoing financial programs intended to support U.S. workers and small business.  About mid-way through the interview Mnuchin sounds quite serious when he says anyone who falsely filed the borrowers certification on the PPP program will be held criminally liable. WATCH:

(more…)

The U.S. Department of Justice, Attorney General Bill Barr, has issued a memo (pdf here) citing a needed balance between COVID-19 mitigation efforts and U.S. civil rights under the constitution.  Notably AG Barr identifies both “religious freedom”, and “undue interference with the national economy” within his memo.

[…] “Many policies that would be unthinkable in regular times have become commonplace in recent weeks, and we do not want to unduly interfere with the important efforts of state and local officials to protect the public. But the Constitution is not suspended in times of crisis. We must therefore be vigilant to ensure its protections are preserved, at the same time that the public is protected” (citation)

(more…)

It is being reported the San Francisco Bay area will remain in a state of forced lock-down with an extension of the stay-at-home orders throughout May.  Considering this is the home of Speaker Nancy Pelosi,… this decision highlights an expectation that the federal government will bail out local and state governments.

We anticipated this type of approach where Blue states & Blue regions will keep their economies closed as long as possible to inflict maximum political damage.  Simply, if San Francisco were not confident they will gain a federal bailout they would not be keeping their economic system closed for another entire month.

CALIFORNIA – Public health officials in Alameda, Contra Costa, Marin, San Francisco, San Mateo and Santa Clara counties say they will extend the shelter-in-place orders through May.

(more…)

Kevin Hassett, senior advisor to President Trump, says we’re going to see unemployment rates similar to what we saw during the Great Depression, but the White House has a plan for an economic comeback.  As Hasset notes: due to various relief programs the overall worker income is still consistent, but outputs from income are non-existent.

In this interview with CNBC Hassett estimates the current unemployment rate at 16 to 17 percent; & the likely result of the second quarter GDP around -20 to -30 percent. Hassett notes the Bureau of Economic Analysis (BEA) has several challenges as they attempt to quantify economic activity during the shut-down.  However, those are stunning numbers.

(more…)

Fox News host Chris Wallace is to Fox News as George Stephanopoulos is to ABC.  Both members of the allied uniparty system function for the same purpose.  Once you see the strings on the marionette is impossible to go back to a time when you did not see them. Wallace’s job is to manipulate his audience while giving the impression of questioning.

In today’s interview with Secretary Mnuchin the insufferable Wallace is cheering for as much economic damage as possible and questioning anyone who might dare have a more fact-based approach.  At one point Wallace even calls the CBO “independent experts”.

.

The biggest of all the bigger financial issues around the economic shut-down will ultimately come down to a battle this spring/summer over a massive bailout for state governments to replace their missing revenue.  States like California, New Jersey, Illinois, Connecticut & New York have been struggling with financial issues for years.

“You never let a serious crisis go to waste. And what I mean by that it’s an opportunity to do things you think you could not do before.”  ~ Rahm Emanuel

(more…)

National Economic Council Director Larry Kudlow appears on Fox Business to discuss more details about reopening the U.S. economy.  As Kudlow shares if we advance Main Street policies to generate economic expansion there will likely be much less need for any financial recovery package.  We cannot spend our way out of the problem.

Providing tax relief and incentives for manufacturing and business investment in the U.S. is one way to generate faster growth and recover jobs without direct spending.

(more…)

Representative Jim Jordan appears on Fox Business with Lou Dobbs to discuss Trump Removal 4.0.  As Jordan outlines there are already eight different oversight teams looking over the Wuhan Virus spending. The Clyburn committee was exclusively created to target President Trump.

Additionally, Jordan goes to the big picture and discusses the latest revelations about the DOJ and FBI; while holding cautious optimism toward Bill Barr and John Durham.

.

Man, if only the House would have made Jordan the Speaker in January 2017.

::heavy sigh::

(more…)

Treasury Secretary Steven Mnuchin calls in to Stuart Varney to provide updates on congressional funding for the Paycheck Protection Program (PPP) and the Small Business Administration relief package.  Sec. Mnuchin covers a range of topics from Harvard to oil.

After discovering that several large companies have applied to the PPP program, Mnuchin warns them about the statements on the qualifying ‘certification’.  The SBA/PPP program is designed for small businesses without access to the capital needed to continue payroll operations.  Any big business that has access to capital could face severe penalties and/or investigation if they disregard the certification and make an SBA claim under the program.

(more…)