- What's going on, y'all.
Welcome back to the channel, Wealth Hacker Labs.
I'm your host, Jeff Rose.
I just want to give a quick update on what's going on
with this economic stimulus package.
Had some videos go out last week,
it's just talking about what was being proposed.
Initially we were hearing
that each American was going to get $1,000.
The second draft of that came out,
and actually it was reported
that each American was going to get $1200.
And if you were a couple, married, filing jointly,
that was $1200 per person,
provided you didn't exceed
certain income limits, income restrictions.
Also, it reported that each, if you had a child,
a dependent child living with you,
we were talking about an extra $500.
And I had a ton of questions, some people contacting me.
And then that was all put together by the Republicans.
That was then presented to Congress
and it was voted down by the Democrats on Sunday.
And whenever that announcement came out,
the Dow futures were already trending downward
and the time of this recording,
it is, we're about an hour, hour and ten minutes
before market close here on Monday.
And looking at the Dow Jones right now,
we are down about 600 points.
Let me just go ahead and hit refresh,
'cause I have a feeling this is gonna continue
to trend downward until market close.
So right now, Dow's sitting about 18,600.
We've seen 18,000, I think 500 today.
And that's where it's at.
And just quick little Google search.
You know, "2020 stimulus check from the government,"
there are a ton of listings, a ton of people chattering
and "What's going on?"
I located this article from Politico,
which we'll get here into a second, but.
It's no surprise.
I expected this to go through rather quickly
and it still may, but any time things get holed up,
you almost wonder is this.
And whether it was presented by the Republicans
or presented by the Democrats,
I feel like they all have to kinda stick their chest out
and carry their own weight.
If you go on Twitter right now,
some of the things trending right now on Twitter
are "Pelosi blocked your check."
It's one of my favorites.
Or, "Pelosi hates Americans."
(laughs)
Oh, you gotta love people.
People are bitter, they want their money,
they want it right now.
And she did release a press release
and I think I went to that yeah, here.
This is actually the article just talking
about what's going on here.
And right now, basically,
Democrats currently are putting together their draft
or their version of this stimulus package.
From what I can tell, the biggest gripes that they had,
had to do with corporations,
and some of the tax breaks or tax forgiveness
that they were giving some of these big corporations.
What doesn't appear yet is,
is there any change or update to the actual check
that people would be receiving.
I looked over this, I haven't seen anything yet,
as far as that goes.
I did just read, actually this was like, 10 minutes ago,
this is a headline that popped up.
30 minutes ago, excuse me,
that "Tensions flare on Senate floor
"as coronavirus bill derailed
"for second time by Democrat objections."
And looks like it needs 60 votes to pass and right now,
as of Monday afternoon, they're sitting at a 49 to 46 vote.
So we're still about 11 votes shy of this going down.
Whoo, yeah.
Just makes things really, really, really interesting.
You know, like, what's going on?
And I know when you go back to the market
and just seeing what's going on with the market,
a lot of it is representative of this.
Just because, I mean, it's timely,
people want their check and I just.
Gosh I read something I thought was just really, really.
Gosh, I don't know if I'll be able to find it right now.
I don't think it was a tweet or some sort of update.
Basically, it was just talking about,
I mean, there are people that are seriously freaking out
about their mortgage payment in April,
their rent payment.
Just certain bills that they don't know
how they're gonna do.
And there are a lot of concern there, a lot of uncertainty.
And obviously this being drugged out longer.
Obviously the fear is will it not pass.
Will it just get held up in Congress?
We really don't know.
I tend to not let fear drive me too far,
but nonetheless, I mean, the market's responding,
people are responding.
That's why I want to put out this quick video,
just kinda give you an update on what's going on.
Hopefully we'll get some news here
and whenever that is released,
I'll be sure to give an update,
just give you more information so that you know exactly.
Are you getting a check?
When are you getting a check?
And everything that goes along with that.
If you haven't yet, please subscribe
so that you'll be in touch with future notifications.
Also stay tuned because I got other content coming.
Yes, I'm doing these one-take market updates,
trying to do this everyday.
But I also have some other stuff I want to show you,
to help you with investing and making extra money
and side-hustles, especially right now in the time of,
ah, just uncertainty and job lay offs, unemployment
and small business owners struggling right now,
and people have to be quarantined in their homes.
So I want to make sure that I'm giving you everything
that you can to set you up for financial success
with all the hardships that we're all facing right now.
Once again, won't get that unless you subscribe
so go ahead and do that.
All right, y'all, this is Jeff Rose reminding you
that it's your money, it's your life
and only you can make it awesome.
Chat soon, peace.