The stimulus bill has passed the House, as amended by the Senate. The ‘American Rescue Plan’ heads to Biden’s (or somebody’s) desk next…
(by Half Dollar) Yippie!
It’s the Federal government to the rescue!
You see, the Federal government can only ever really do one of two things: It can get in the way, or it can get out of the way, and since our “elected” “leaders” in Washington always have to be
destroying doing something, it has been quite a while since the government has gotten out of the way.
But it is what it is, and the American Rescue Plan just passed the House, as amended by the Senate, meaning with a little less free money from Uncle Joe heading to the Proles, such as the tighter income eligibility requirements to qualify for the “stimulus check” in the first place, or the faster rate of diminishing payout.
Biden says “it’s historic”:
Help is here — and brighter days lie ahead. pic.twitter.com/HSp8rPBxty— President Biden (@POTUS) March 10, 2021
Oh good grief, we’re so totally screwed.
Of course, the $64,000 question on everybody’s mind is, has silver finally bottomed?
Well now, let’s just say I’m not ready to accept defeat on my call just yet, and really, I hope I’m right, because I’m totally backing up the truck if we do get that spike low into the teens, and if that happens, I think it happens very soon because yes, pretty soon we’re leaving the 20s, and for that matter, the double-digits and then triple-digits, behind.
Over the last day or so, I’ve laid out a “sell the news” scenario, both in a quick article yesterday, and in an article that will be published some time today over at the best online gold & silver bullion dealer’s website.
With everybody so bullish, including the permabears, and with always having to do what everybody else is not, I simply had to lay out the contrarian case.
Here’s the overall question: Will this stimulus “be enough” to keep the markets propped up, and if so, for how long?
Regardless, Americans are about to go on yet another massive spending spree.