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President Trump‘s considering giving Americans up to $1,000 to help people suddenly out of work due to the coronavirus, and his main man on economics has a tip on where to spend it.
We got Larry Kudlow Tuesday on Capitol Hill shortly after the announcement of those checks — part of a proposed trillion dollar relief package — could be in the mail within a couple of weeks. Kudlow is the Director of the Nat’l Economic Council, so he’s the guy to ask about how best to stretch that check … if you get it.
NEW: Treasury Sec. Steve Mnuchin: “We’re looking at sending checks to Americans immediately…and I mean now, in the next two weeks.”
Mnuchin declined to name an amount. https://t.co/fGuwrsbtfV pic.twitter.com/n8vtFOlZv9
— ABC News (@ABC) March 17, 2020
@ABC
First, LK says you definitely should NOT blow the dough on stupid ventures. For instance, even if ya got time on your hands at home during quarantine, online gambling — even on the weather — ain’t the wise move, according to Larry.
He says your best move is putting it back into the economy — spending, not saving, it on essential household items, supplies, food and, of course … your rent or mortgage.
However, he’s not opposed to getting yourself something pretty — on Wall Street, that is. Larry says the best way to make the cash pay off in the long run is to take advantage of deep discount stock prices.
His answer about how low the market will go, though, ain’t great. 🤑