The CARES Act Reality

Chris defends Thomas Massie against MAGA attacks for opposing the CARES Act. He slams the COVID cash drop as an inflationary disaster—your $1,200 check cost you more in rising prices. www.watchdogonwallstreet.com

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
So the Mago types continue to come after, again, my opinion,
a bit of a national treasure we have in Washington,
d C. Thomas Massey. They're coming after Thomas Massey because
he stands up to some of the things that he
disagrees with. He actually has a backbone and he doesn't
cave to Trump. Actually, great interview he recently did with

(00:40):
Tucker Carlson and he goes through It's hilarious, hilarious him
going through what took place. This is when COVID was
happening with the Cares Act, where he drove from Kentucky
to Washington, d C. In a car to thwart the
Cares Act, to try to thwart the Cares Act because
they wanted to put this through on unanimous consent. And

(01:04):
he is a great and again I highly recommend you
watching it, telling the story and how Trump is calling
them and threatening them and you're never gonna win. And
I'm gonna primary you, and I'm gonna do this, and
I'm gonna do that. You know, the funny thing is
you actually see them right now. You see the you know,
the maga types that don't know what they don't know
when it comes to economy. These are the maga types

(01:26):
that you know if Trump and you got them on
both sides, you get whack jobs on the right, you
get whack jobs on the left. And not wrong. I mean,
if Trump told a lot of people, hey, go jump
off that cliff, many mega types do it. Sorry, but
I'm sometimes not a lot of deep thinkers there. I
I called it from the get go as an absolute disaster.

(01:49):
Massy called it. Ran Paul called it a disaster because
that's what it was. People still think to this day
that they benefited from that Cares package. And I remember,
oh god, so called conservatives clamoring they wanted their check,
Oh give me my damn check, and they wanted another
check second time around, wanted their buying check. Yeah, just
send us that money. They failed to realize had they

(02:14):
got their check? But was it worth it? Was? Was
was inflation worth it? Because think about it for a second. Okay,
think about what you paid in prices prior to the
Cares Act, prior to COVID, and what you're paying now

(02:37):
for things, because that's what it was. Yeah, you can't
just drop trillions of dollars all over the country and accept,
you know, expect inflation not to happen. So that thousand
dollars twelve hundred dollars check you got, whatever you got
was a freaking joke. Man, You paid for it, and
then some oh look at me, I got my chick.

(03:00):
Is it the same people that are like, yeah, look
at a tax refund I got this year. It's your
money that they returned to you, and they kept it
and they didn't even pay you interest on it. And
again I still can't get that to the heads for
many people, Yeah you're a tax refund, Well they're great.
You gave the government an interest free loan over the
course of the year. Anyway, neither here nor there CAREZAK

(03:23):
was a disaster. It's like, along with everything that was
done with COVID was a disaster.

Speaker 1 (03:28):
Again.

Speaker 2 (03:28):
I remember Jewelry Stores was living in New York at
the time, advertising on sports radio, bring your stimulus check
down here and treat yourself to this and treat yourself
to that it was a trap. You do understand that
most of the money you got your stupid check, but
most of the money went to corporations. Most of the

(03:51):
money went to the corporate America for crying out loud.
But it just it gets to pay. You know, they
treat you greater fools and peasants and you comply at
some point in time. Okay, you have to become somewhat
literate and how money works. You have to be critical.

(04:12):
I don't care how much you like a political candidate
or your tribe, whatever it may be. If you're not
questioning them and what they're doing there, then you're not
a member. You know, you're not a menial public party.
You joined a religion is what you have. You put
your faith into a human being. You're not supposed to

(04:33):
put your faith into human beings, supposed to put your
faith in God. But you follow these people and the
things that they say, and they're human. They make mistakes,
they're wrong. My problem is is that when I make
a mistake, I tell you that I'm wrong. If I
screw up here on the show, if I say something's
an accurate, I get corrected. I'm gonna correct it. Politicians,
they don't do that. But this again, an absolute joke.

(04:56):
And to watch all of these magnetypes out there go
after Rand Paul and Messy for being truthful and honest.
Shame on you, watch Dog on Wall Street dot com