The coronavirus and low oil prices have presented a dilemma Fed Chairman Jerome Powell cannot fix by simply printing money. You cannot current the virus by providing liquidity to the market, buying bond ETFs, cutting rates to zero, or quantitative easing (“QE”) until infinity. Now that the S&P 500 and the Dow Jones are faltering, President Trump needs a new act. Now the president is lobbying congress for a $2 trillion infrastructure package:

With interest rates for the United States being at zero, this is the time to do out decades long awaited infrastructure bill. It should be very big and bold, two trillion dollars, and focused solely on jobs and rebuilding the once great infrastructure of our country.

Billionaire entrepreneur Mark Cuban echoed Trump’s sentiment on infrastructure:

“Somebody has a vision out there of what we are going to look like on the other side and when we look back in five years, we are going to realize that there are five or ten or 25 amazing companies that were started that just changed the world and lead us through all of this to a brighter future.”

Cuban echoed President Trump’s sentiment that America must wean itself off economic reliance on China, noting that pharmaceutical companies manufacture many of their drugs overseas.

In praising Trump, the Dallas Mavericks ownerr delivers a back-handed diss to Shock Exchange. Ralph Baker’s Shock Exchange: How Inner-City Kids From Brooklyn Predicted the Great Recession and the Pain Ahead suggested the U.S. invest in infrastructure. It could repair crumbling bridges and highways and put people back to work. Cuban pretends the idea emanated from Trump, but that is not true.
‘Shock Exchange’ – Most influential book on economics since the Great Depression
Politicians are notorious for plagiarizing people and not citing the source. Cuban has talked of running for President. He already has mastered the art of plagiarism, so he should be a great politician. Shock Exchange is the most important book on economics since the Great Depression, and a must read for African Americans. If Cuban wants to help fix the economy then he had better read it.
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