Today’s Top Stories From the Breitbart News Desk

[Maganomics]( Today’s Top Stories From the Breitbart News Desk Markets inevitably fell after grim prognoses from both Dr. Anthony Fauci and Fed chairman Jay Powell. Fauci’s day of doom testimony before a Senate panel included warnings that a vaccine might never arrive, schools might not open all year, and we could experience a “second wave” of the virus. Powell made it clear today that he thinks the economy will need more support from the government in order to get back on its feet as we reopen. Certainly, many businesses will struggle as they open, with one-quarter to one-half capacities and rising costs from necessary antiviral improvements and PPE supplies. Yet Nancy Pelosi and the House Democrats are once again insisting on putting the recovery in danger by refusing to propose “clean” stimulus and aid bills, preferring instead to load their latest coronavirus bill with trillions of dollars of spending on left-wing pet projects, amnesty for illegals, and an investigation into whether minorities are getting their fair share of legal cannabis business. That’s funny, but it is no laughing matter, because it creates the risk that left-wing ideological politics will stand in the way of aid that is likely to be necessary to keep the recession short and shallow. – Alex Marlow, Breitbart News Network --------------------------------------------------------------- TOP STORY [image] [Stocks Slump On Fears of Second Coronavirus Wave]( Fears of a second coronavirus wave and downbeat comments by the head of the US Federal Reserve helped push stocks lower on Wednesday. Wall Street’s main indices slid after Fed chief Jerome Powell said the US economic recovery may be slower than desired in the aftermath of the pandemic, but should rebound “substantially” once the outbreak is reined in. As the shutdowns drag on, they could cause “lasting damage” to the US economy and more policies may be needed to deal with that possibility, including spending beyond the nearly $3 trillion already approved by Congress, he warned. [[Click here for more]( IN OTHER STORIES… [Powell Warns Of A Possible Sustained Recession from Pandemic]( Federal Reserve Chair Jerome Powell warned Wednesday of the threat of a prolonged recession resulting from the viral outbreak and urged Congress and the White House to act further to prevent long-lasting economic damage. The Fed and Congress have taken far-reaching steps to try to counter what is likely to be a severe downturn resulting from the widespread shutdown of the U.S. economy. But Powell cautioned that numerous bankruptcies among small businesses and extended unemployment for many people remain a serious risk. [[Click here for more]( [Trump Says ‘Rich Guys’ Are Talking Down Market and Betting Against It]( President Donald Trump on Wednesday warned Americans that investors delivering downbeat forecasts for stocks may be positioned to profit from the predicted decline. [[Click here for more]( [Nancy Pelosi Proposes Moratorium on SALT Deduction Cap; Benefits Rich in Blue States]( Speaker of the House Nancy Pelosi (D-CA) is proposing a two-year moratorium on a tax deduction enjoyed primarily by rich people in Democrat-run states – a deduction that President Donald Trump limited strictly in his 2017 tax reform law. The proposal is part of Pelosi’s $3 trillion, 1,815-page bill for a fourth phase of coronavirus relief, called the “Health and Economic Recovery Omnibus Emergency Solutions Act,” or the ‘‘HEROES Act.’’ The bill includes many other left-wing projects and priorities, from “ballot harvesting” to a $10 million boost to the National Endowment for the Arts. [[Click here for more]( [Pelosi Coronavirus Plan Allows Businesses to Hire Illegal Aliens Over 33M Unemployed Americans]( House Speaker Nancy Pelosi’s (D-CA) latest Chinese coronavirus relief package shields illegal aliens from deportation so long as they take American jobs in “essential critical infrastructure work,” shielding their employers from prosecution.[[Click here for more]( [Pelosi Coronavirus Plan Orders Felons, Illegal Aliens to Be Freed from Prison]( House Speaker Nancy Pelosi’s (D-CA) latest Chinese coronavirus relief package includes a mandate that federal inmates, as well as local convicts and illegal aliens, be released from jail so long as a court considers them “non-violent” offenders. [[Click here for more]( --------------------------------------------------------------- FROM THE MAGANOMICS INSTITUTE… [The Danger of Extending the Lockdowns]( Wouldn’t it be better to pour resources into containing COVID-19 where it appears? [[Click here for more]( [Top 3 Business Trends That Will Persist After the Pandemic]( Some of the effects of coronavirus will be more permanent than most people seem to believe. [[Click here for more]( [Maganomics]( Maganomics Institute 55 NE 5th Ave, Delray Beach, FL 33484 [www.maganomics.com]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, click [here](. Maganomics welcomes your feedback and questions. But please note: The law prohibits us from giving personalized advice. To contact Customer Service, call toll free Domestic/International: 1-888-415-6046, Mon–Fri, 9am–7pm ET, or email us [here](mailto:memberservices@maganomics.com). © 2020 Signal to Noise, LLC. All rights reserved. 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