Today’s Top Stories From the Breitbart News Desk

[Maganomics]( Today’s Top Stories From the Breitbart News Desk The Trump administration has now made it clear that it expects a “Phase 4” economic rescue package. The earlier packages were clearly designed around the notion that the economy would be able to quickly reopen following the shutdowns, which were initially aimed at “flattening the curve” to prevent the healthcare system from being overwhelmed. The shutdown strategy appears to have worked. Hospitals were not overwhelmed, and much of the extra capacity New York quickly built up went unused. New York Governor Andrew Cuomo said today that new cases have dropped to their lowest since the outbreak began. But policymakers and health officials now say that the economy must reopen slowly in order to prevent a second outbreak. The result is that the recovery will take longer and be much more precarious than many thought just two months ago. So businesses will need more aid, more workers will lose their jobs and require support, and federal government income support will be necessary to keep demand from collapsing. With the Trump administration on board for more aid, the big question is whether Democrats will scuttle the next wave of aid by demanding a broad program of government spending to support the left’s agenda rather than agreeing to a narrowly tailored economic assistance package. Another potential stumbling block: Democrats could derail aid negotiations by pushing too hard for their vote-by-mail fraud. Meanwhile, global financial markets were under pressure today as investors worried about China’s plans to crack down on Hong Kong. Our eyes will be out this weekend for economic signals from Memorial Day. Will shoppers hit the stores for sales? Will people be too intimidated to throw or attend weekend cookouts? This is a crucial three-day-weekend test for America’s economic reopening. – Alex Marlow, Breitbart News Network --------------------------------------------------------------- TOP STORY [image]( [Andrew Cuomo: Recent New York Coronavirus Cases Lowest Since Onset]( The number of new coronavirus cases per day in New York State is down, bringing the Empire State to a level “lower than when we first began,” Gov. Andrew Cuomo (D) announced on Friday. “News is good today. Hospitalizations are down. Net change in hospitalizations is down. Number of new cases per day is down,” Cuomo announced. “This is a level now that is lower than when we first began, so that’s good.” [[Click here for more]( IN OTHER STORIES… [Mnuchin: ‘Strong Likelihood’ We’ll Need Another Relief Bill]( During an interview with The Hill on Thursday, Treasury Secretary Steve Mnuchin said that “there is a strong likelihood” that another coronavirus relief bill will be needed, but the administration will “step back for a few weeks” to see if more money needs to be spent, and, if so, how to spend it. [[Click here for more]( [Hong Kong Economy, One of the Few to Survive Pandemic, Collapses over Chinese Takeover]( The Hong Kong stock market was rocked by a massive sell-off on Friday after the Chinese Communist government in Beijing declared its intention to bypass the Hong Kong legislature and impose a draconian security law to shut down the protest movement. That single act effectively ended the island’s limited autonomy in the eyes of many residents and concerned international observers. [[Click here for more]( [Gordon Chang: Trump Has Authority to Block State Pension Funds from Investing in China]( President Donald Trump has the authority to block state-administered pension funds from investing in Chinese companies, said Gordon Chang, author of The Great U.S.-China Tech War, offering his comments on Tuesday’s edition of SiriusXM’s Breitbart News Tonight with host Rebecca Mansour and special guest host John Hayward. [[Click here for more]( --------------------------------------------------------------- FROM THE MAGANOMICS INSTITUTE… [The Reason Savings Rates Have Increased During the Lockdown]( A chat about pensions led to some nuanced truths about the country’s wealth gap… [[Click here for more]( [Is U.S. Shale a National Security Issue?]( Here’s why this month’s expiration of oil contracts wasn’t as exciting as the last… [[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. 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