What the unprecedented stimulus really means
America is officially broke, y'all. And so is everybody else.
The U.S. stock markets posted their largest ever single-day gains after lawmakers agreed in principle to a third — and massive — stimulus package in response to the global Covid19 coronavirus epidemic. And in early trading this morning, stocks are already up sharply. The S&P is still down more than 20% off its historic highs, but this is a start.
The cost of the stimulus, though, remains clear: America is now officially broke. And so is everybody else.
TODAY IN…
DEEP TECH:
Uber sues Los Angeles in attempt to circumvent data-sharing regulations that protect citizens
HEALTHCARE TECH:
A past HIPAA breach rears its very ugly head again: This is why your personal medical data is not safe with Silicon Valley Big Tech
The frantic pursuit of innovation around ventilators continues.
FINANCE:
Where does the government get $2 trillion for a coronavirus bailout?
PUBLIC POLICY:
Maryland approves digital advertising tax and New York could be next
Businesses controlled by U.S. officials, including the President and his family, may not be allowed to get money from the Covid19 bailout fund
And finally… “I survived Ebola. I fear Covid-19.”