US Industrial Production At -3.58% YoY With Capacity Utilization At 75.54% (Both Improving), Stock Market Declines On Biden’s $1.9 TRILLION Stimulus

by confoundedinterest17

Enter Biden/Harris.

President elect Joe Biden is touting a $1.9 trillion Covid relief package once he is seated.

Today’s industrial production reading for December show IP improving from -5.41 YoY in November to -3.58% YoY in December. Capacity utilization increased from 73.39% in November to 74.54% in December. So, Biden is inheriting an improving economy.

Meanwhile, equity markets are down across the board.

READ  BREAKING THE SILVER MARKET: Investment Demand To Overwhelm The Market

The aid package includes $415 billion to bolster the response to the virus and the rollout of COVID-19 vaccines, some $1 trillion in direct relief to households, and roughly $440 billion for small businesses and communities particularly hard hit by the pandemic.

Stimulus payment checks would be issued for $1,400 – on top of the $600 checks delivered by the last congressional stimulus legislation. Supplemental unemployment insurance would also increase to $400 a week from $300 a week now and would be extended to September.

$2,000 per person? Why not $2 million per person now that Democrats control the White House AND Congress? US Federal debt is about $27.8 trillion and rising fast. That is $222,191 per taxpayer.

READ  GameStop Short-Sellers Have Lost $1.9 Billion in Just 2 Days Amid the Stock’s Latest Spike

Why are both Yellen and Powell frowning?

 

 

1,169 views

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.