Once you can afford to, and once you feel safe, you can become the stimulus check and unemployment benefit to your local community.
In this follow-up training video, Dr. Nitin Chhoda analyzes Jerome Powell’s concerns about damage to the economy, and how we can play a role in helping Powell to save America.
Hint – it has to do with supporting local businesses!
Amazon and Walmart have seen a huge surge in online shopping and a big surge in their stock price lately, since people are doing more online shopping while being stuck at home. The solution – when this is over, do less online shopping and support local businesses (as long as you feel safe to go out)
Here are three BIG things that stood out from Powell’s recent interview on CBS 60-minutes.
#1 “The risk of longer-run damage to the economy. And really, the good news is that we have the tools to limit that longer-run damage by continuing to provide support to households and businesses as we get through this.”
#2 “There’s a real risk that if people are out of work for long periods of time, that their skills atrophy a little bit and they lose contact with the workforce. Longer and deeper recessions tend to leave behind damage to people’s careers. The small and medium size businesses that are so important to this country, if they have to go through a wave of avoidable insolvencies, you have– you’ve lost something there that’s more than just a few businesses, you know, it’s really the job creation machine. Keeping people and businesses out of insolvency just for maybe three or six more months while the health authorities do what they can do. We can buy time with that.”
#3 “(The Fed can) help businesses avoid avoidable insolvencies and that do the same for individuals. Keep workers in their homes, keep them paying their bills. Keep families solvent.”
I believe we are seeing history in the making. We are witnessing the actions of the man that will save America.. and by extension, the rest of the world. Jerome Powell is literally a ‘magician’ or a ‘financial wizard’ in my opinion.