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Jeru and meet kevin here with new indications that the $450 per week stimulus check idea is gaining a lot of traction not only within the Senate but also within the White House today I'm going to break down two interviews that just happened that lead me to this conclusion and then of course after we talked about the stimulus related updates I do want to give you a quick update on what I'm doing with my money right now when it comes to investments as stocks and real estate we'll keep that short and sweet towards the end in the meantime remember this video is sponsored by weave old deposit hundred dollars first things first both of these interviews were on the exchange with Kelly Evans that's a CNBC program and she started with Rob Portman Rob Portman as we mentioned is that Republican senator who proposed the $450 back to work stimulus check idea the interesting thing about Rob Portman is he's a Republican senator and he seems to be well respected amongst other senators which is good because the more respected a senator is and the fact that he's a Republican and the fact that he's in the Senate there are only 51 Senate Republicans right so you know he's a big deal in that sense because the Republicans are now charged with responding to Democrats 800-page bill I almost an 800-page bill but that was like the of the other proposals the 18 unpaid a bill Senate Republicans have to respond to and a Senator Rob Portman is going to be one of those Republicans responding to it and today on the interview with Kelly Evans he reiterated that look it's a problem and it's not fair that people in his opinion he said this okay that people in the bottom 20% are making double on unemployment than what they would have been making if they were working that doesn't really encourage or motivate you to go back to work now I personally would argue that well you know people who are on unemployment right now are probably the ones needing all the help they can get so I don't know that we can necessarily argue fairness I don't think that a whole coronavirus pandemic was fair to anyone without a net worth I think this really just helped the rich get richer in the poor get poorer which is bad and sad but he starts off with that stat mystic and reiterating that as much as 60 to 70% of people are making more money with the $600 boost and their unemployment pay than they would be making working and so this is making it very hard for employers to get people back to work and so his goal is to make it fair and he kind of iterates what other people are saying and when he says what other people are saying we can kind of read between the lines here and see that he probably means what other senators are responding to him with and there seems to be a potential suggestion of you know what maybe instead of $400 or $450 to go back to work what if we just give a $600 back to work credit now right now it's still not clear if this would apply to everybody or just people who are working or went on unemployment and then went back or how broadly the supplies we don't have details on that but it is a good sign that there seems to be talked about a number should it be $200 should be 450 should it be 600 that's a sign that consensus is building and that support for this bonus to go back to work is growing the problem is the current benefits do end July 31st and realistically I don't think any of us expect a bill to get passed until maybe at the earliest like July 2nd or July 3rd so this wouldn't provide much of a benefit without an extension so my guess just based on congressional timelines is we might see a back to work credit that they end up providing through the rest of the year and think about the political ramifications of that the election is in November if they give everybody a back to work credit through the rest of the year a you're gonna get way more money going back to work then you would from a stimulus check especially if they apply it broadly to even you know people who had maybe their pay reduced or whatever and obviously there should be support for people who are out of work because they're retired or disabled obviously I do not want to exclude that group I just wanna make that clear but think about the political move that could be that could seriously be an election slam-dunk if support for this is growing in the Senate and it's growing in the White House they proposed it and pass it right before the election you get paid through the election people are gonna go do it I'm I'm going back to work the economies grow opening up again I got all this extra money coming in for the rest of the year honey Christmas this year is gonna be great I'm voting for Trump again this this could be a very brilliant move by Republicans now I know it's not as simple as $2,000 per month which the Democrats have proposed which would have been great if they could get it through but guess what Democrats aren't in power right now so let me show you what the White House is saying about this especially Larry Kudlow who he's the next interview and I want to break down some other stimulus suggestions that Larry Kudlow is talking about possibly also having in this next round of a stimulus but first I do want to mention that Senator Rob Portman ended his interview off by saying look here's the thing it's not just a matter of it's in a paraphrasing it's not just a matter of people getting money he wants to get people back to work because when you go back to work you quote get your healthcare retirement dignity and self-respect that comes from work this is an interesting POV and I mean look I like just hanging out at home playing call of duty in halo but I do see that there is certainly there are benefits of being at work because you do get your health care benefits and retirement benefits and yeah obviously at some point we do have to get back to work we can only eat Reese's peanut butter cups for so long before we start adding on the Rona 10 or 15 or 20 and then we buy a peloton bike that is way overpriced so you make the peloton stock go up which is good for people who own the company like me hashtag not sponsored but then we never end up using the bike so anyway moving on to what Larry Kudlow said geez if I stress you out you better have life insurance okay you could do so in the link down below before I'm done with this video and what Larry Kudlow proposed you could have life insurance okay let's get into Larry Kudlow now Larry Kudlow was immediately asked about what about this $450 proposal the back to work credit and what's fascinating about what Larry Kudlow said is he started with what he said yesterday which is it's something we're looking very closely at but he actually went a step further and said this this line is big right here quo we may go with something like that I don't want to button it down I don't want to get ahead of policymakers but the $600 plus up everyone acknowledges this is a disincentive so let's pause for a moment here and look at what he's saying he's saying well yesterday he said we're looking at it very closely yeah well you can look at a lot of things all day long and not do anything but the fact that he said we may go with something like that that's that's a very optimistic May is a sign of maybe like you know I would say probably a 50% probability right 50 to 60 percent I wouldn't say it's likely which would be like 70 to 85 percent probable so may that's that's good especially if he says something like that something that encourages people to go back to work I don't know to me maybe I'm reading into too much but I think this is him doubling down on what he said yesterday yesterday he said we're looking at it very closely said the same thing again today except added we may go with something like that that's the first time we've seen that kind of doubling down on one of these stimulus ideas we've certainly not heard something like that about stimulus checks we have heard suggestions that the White House is open to the idea about another round of checks but this has either been from secondhand information or from Donald Trump saying he's not opposed to more checks to people but this sort of doubling down by the director of the National Economic Council Larry Kudlow basically hangs out on the White House lawn every day and when he's not on the White House lawn he seems to just hang out with Donald Trump this is pretty good insight but what else does he say and what else does he propose well he goes on to say that he wants to quote promote work not obstruct work and I have to say I thought that was an interesting blind okay I see that he goes on to and this is that political filter coming out again right we see glit we're seeing glimmers of hope we just want to do what we can to have healthy businesses and a healthy workforce we think growth is gonna be phenomenal at the end of the year you know the political jargon we saw all of that he did also bring up the labor report this morning and that was the unemployment claims report the unemployment claims report let's just go ahead and pull it up here and we'll look at it together this report actually came in in my opinion better than expect did something that I really want to point out to you here before I tell you what Larry Kudlow suggested might be other benefits that come in the next round of stimulus is I really want you to pay attention to what's happening over here look at these little bends right here and here this is really where you want to see the trajectory of this unemployment claims line really continue to get pushed down the more it gets pushed down the better and we really in this last little reporting here we saw another inflection point of that rate trending downwards had a little bit of a bad bump here but that downtrend right here is very very good it's something to pay attention to it's just it's good news it's it's not look don't get me wrong it's not good that you know two million more people filed for unemployment claims that's not good right look and adjust the total of 1.9 1/4 million filed for claims that's not good but it is better that the trend is going downwards so I do like to see that declining trend but let's go back to Larry suggestions about this you know what's going on or some of the other ideas that they're looking at because I think they're fascinating so here we go Larry Kudlow suggested let's see here let's pull this up ok Larry went on to say I kind of this part I didn't like so much he says I kind of want to see what happens in the next four weeks as we come into July we might be very surprised happily surprised he said as the virus flattens this isn't good because it kind of kicks the can down the road until the first week of July which is honestly kind of what we were expecting anyway in terms of when a bill would get signed I don't think anybody's expecting any stimulus in June which is kind of lame that it takes them so long and here's that classic move again a lot so it just kind of wait and see until the beginning of July very frustrating you think these people should just go without pay and get something done and when they get something done then they get paid you know what how about you be like a real estate agent when you close the deal you get paid which speaking of which if you want to get into real estate investing or be a real estate agent make sure to check out my program scoop on code does end at the end of the month all right now Larry Kudlow says look here's the thing he goes into talking about China how China is gonna pay but let's now focus on what other stimulus he's thinking of a big thing that he's looking at is encouraging businesses to come back to the United States so expect some kind of incentives for businesses to localize their production that's going to be good potentially for companies like Tesla you know Apple already kind of produces all over abroad you know Taiwan and these other areas and the Asia region it's gonna be a lot harder I think to bring an apple to manufacture here but for a company like Tesla who's already planning on building a plant and maybe Nevada or Texas they might be able to reap some additional benefits from some of these new business stimulus plans they're thinking about for localizing manufacturing so the stimulus place could affect some of our local stocks as well he does then go on to say the next round of stimulus you know they're looking at a lot of options he says rewarding people to go back to work perhaps okay that reiterates what he said earlier we've heard about the payroll tax holiday before he mentioned that before as well here's something interesting deductions for restaurants tourism hospitality and big one maybe air travel could you imagine deductions for restaurants tourism and maybe air travel heck maybe even as far as cruise ships although big asterisks on cruise ships that could be a big change to the airline industry if somebody said hey you know what do you want to drive across country or you want to drive to Yosemite for eight hours or do you want to take the plane for two hours and you know what look at the plane tickets 200 bucks but you now get to write that off on your taxes so maybe it's really only like a hundred forty bucks depending on your tax situation that's very very interesting he did also reiterate this potential capital gains exclusion for 2020 if you sell assets in 2020 and sort of uh you know I don't know if you would have to reinvest these or what the rules would be but that really only benefits I feel like wealthier people who own stocks and real estate which all of you watching this video should aspire to own stocks and real estate and if my personal opinion is if you believe that those things are a scam and the markets efficient and you can't make money in those I I would love to be the first person to tell you that's not true you need to build your wealth by investing in assets and that's exactly what I want to touch on now but first let's just do a quick little recap here we've got a lot of optimism around what Senator Portman has said we've got consensus building not only in the Senate but on the in the White House so this is the plan that we really want to pay attention to there are tons of plans out there but unfortunately the other ones just aren't getting the kind of attention that this plan is now from the people who matter most and remember the people who matter most right now are Republicans in power and Donald Trump in terms of the you know what Larry Kudlow said these extra benefits to seem a very interesting and I think three times he reiterated the potential of this sort of back to work bonus being something that they would consider or perhaps actually use now in terms of the stock market well today is the complete opposite of what we had yesterday and that means company is like Carnival AMC Cinemark whirlpool Cheesecake Factory Simon Property Group are all on sale today in fact Cinemark is down 10% Delta Airlines about two percent Dave and Buster's about three percent so some opportunities in the travel related sectors if you're thinking about buying some stocks if it makes you nervous make sure to just pick an index fund get your life insurance Tesla's down a little bit so if you're thinking about buying stocks and you're just waiting for that right day remember just buy a little bit today and then a little bit again tomorrow when it's a red day and then buy a little bit again the next day insight and we'll see you soon
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