Whole foods having a sickout today. Are they the new american heroes. Media went after him after his white house speech, all that and so much more on making money. Charles so it has been a mixed session on the street. We erased early losses, uplifting thoughts from dr. Fauci, social distancing and march Consumer Confidence report, much better than anticipated. Later on it was a news conference, Governor Cuomo and other governors out there giving us sober reminders of the current circumstances. So how should investors approach this market . Joining me now, Katherine Rooney vera along with Devine Capital ceo, dani hughes. Kathryn, let me start with you. You could argue if the dow is off 1000, even 2000 points it, might not be a big deal all things considered. So in a way it is a moral victory but how do you navigate these new waters . Well, charles, no one can price the bottom, thats impossible, so those who divine that they can it is just an i impossibility. I have been telling my clients is a very simple concept, charles, dollarcost averaging. Prudent and disciplined approach. Increase your equity positions in the s p 500 over a period of time. This is a bear market. We could very well get another leg down. This is not smooth sailing from here on out. Until we have a medical remedy, until we see new case count drop, we could be in, we could be do for another bought to the downside. Im telling my clients, look, guys, every two weeks, take a portion of your cash position, could be 10 , put it in the market. Charles you know, dani, one thing working for me and my subscribers buying at big down days right at 3 50, right . It has been pretty good. I turned a lot of long term investors into shortterm traders bah you know you get these bounces, youre up 20 on a stock, up 25 because the to kathryns point you can pull back, take it off the table. That is not how investors want to go about this market. What are you doing . How are you handling this . I, so great to hear your voice, charles, great to see you back. Charles thank you. Kathryn is right, march came in like a lyon and going out like a snowball. Although the consumer number was better than expected, it masked true economic realities of shutdown of most of the economic engine. I think that investors are way too excited about these down days. It shows me that maybe we havent really hit reality yet. Gdp is expected to contract by an annualized rate between 15 and 30 in the quirk. What i like to call the snuggle industries, restaurants, air travel, concerts, shopping malls, tourism, they seem right now to be the most severely impacted, but, to the entities servicing, lending, borrowing from those industries this, next quarter, it could be catastrophic. Charles yeah, it will be catastrophic for several industries. Kathryn, let me ask you about how you are reacting or how investors should react to news with respect to the coronavirus because i think, almost everyone agrees that the market will somehow sniff out really, really great news, maybe weeks before we, we get the official allclear. Are you looking at daily new case volumes, death numbers . Are you looking at how the curve is starting to bend in certain areas . Because every morning i get up i do that. I begin in asia. I look at the european data. Then i start to focus on americas data. Feels like days we get pretty good news it has been reflected in the market . No. Youre right. I think new case count every day, charles and vanses advances in terms of medical remedies or vaccines in future case but what i look at in terms of economic numbers is Consumer Confidence. It came out surprisingly well in march. That tells me 1 q First Quarter of 2020 doesnt have to be negative. With he could get a tragic collapse in 2 q. I think it it will be 25 . Consumer confidence was really resilient, charles i think you could get a positive First Quarter, a devastating second quarter, and then likely a Third Quarter as well negative for a rebound in the final quarter or the beginning of 2021. Charles dani, a lot of people are expecting that. For the audience, they should understand there always been this notion that economies and stock markets are like rubber bands, theyre elastic. So the further back you stretch it and you let it go, the quicker it rebound. Of course you can stretch it to the point where it pops, but are you looking for the bounce, this sort of elasticity to the economy, to the stock market anytime in the second half . Going into this we had, i want to say a roaring economy but really Strong Economy coming into this coronavirus situation. So i do expect to see the consumer and industry and banking actually rebound pretty nicely once we get the allclear which i dont believe were necessarily close to yet but what this has done, it has kind of changed our mindset into becoming much less of a buy and hold and like wait it out forever, to a trading like you said, charles. We have just got to be more active in the markets and this is where i come from. I was a marketmaker from 20 years. This is my kind of market, i love it, i hate to see the devastation, i do not want to take away from that, but this kind of dislocation were seeing from the standpoint of pricing equities and in bonds has absolutely no connection to whats happening in reality. Charles sure. This will continue, and this is where if you are very, very focused on the endgame which is creating conditions over the long term this is where you make your money. Charles, can i charles dani, kathryn, i got to let you go. Im sorry i love both of you. I appreciate your expertise but we also want to talk about President Trump now because today he talked about another potential stimulus plan. This again to help fight against the coronavirus and, it is not what you think, folks. The president actually tweeting today, was Interest Rates for the United States being at zero, this is the time to do our decades longawaited infrastructure bill. It should be very big and bold, two trillion dollars and focused solely on jobs and rebuilding the once great infrastructure of our country. He is calling it phase 4. Is this what America Needs right now . Joining me to discuss, Young Americans for liberty analyst author kristen tate. Kristen, maybe a rhetorical question to ask you because i saw after phase 3 you went nuts on twitter, saying no bailouts, no bailouts, no bailouts but people said we need ad infrastructure fix for a long sometime . Infrastructure bill would be more government spending. Both sides would portray it as a big win but charles, i was so disappointed with the stimulus bill that was just passed. It is obvious that our country needs bold action and strong leadership to get us through the pandemic but politicians on both sides of the aisle used panic surrounding coronavirus to inject political pet projects and earmarks into the stimulus bill. Taxpayers are furious. They want to know how millions of dollars in funding for npr, pbs, refugee resettlement, sunscreen labeling, casinos, travel agents, all the rest, what that has to do with Coronavirus Relief . The obvious answer is nothing but all of these items were discretely slipped into the bill which was 880 pages, pack [inaudible]. Told it is essential. It is disgraceful t should be a National Scandal and it is really a shame. Charles well there were some lawmakers that were offended including republican congressman Thomas Massie of kentucky. He still fuming over the last, the package that was just passed. He told me yesterday that washington is doing much more for big business and wall street. Take a listen to this. More republicans need to be a dangerous nuisance to Nancy Pelosis agenda im telling you, if you listen to their debate friday, they got up there said this is just a down payment and nancy pelosi is saying that too and i will be voting no on the next bill. Charles kristin, it is one thing to be upset about the Kennedy Center and some of these Million Dollar projects that you talked about. What he is saying really folks should be focused on the fact over 2 trillion is being distributed and most of it is going to wall street fat cats . That is exactly right. Thomas massie was the only one in washington, d. C. , with the courage to speak up to that point. The bill is rife with crony capitalism and the fine print of this bill gives us really valuable insight how washington, d. C. , actually works. This is the biggest spending bill in u. S. History and a large part of this bill was dedicated to including items that were left out of the continuing resolution a few months back this is how d. C. Works. We are 23 trillion debt and counting and future generations are going to bear the burden of that debt. Charles i hate to break it to you but phase iv will really break the bank. Kristen, appreciate your thoughts. Folks special thanks to you, our viewers who are stepping up to help complete strangers. At 2 45, my pillow ceo, mike lindell is sharing what he is doing to help Health Care Workers stay safe in the pandemic. As the coronavirus wrecked havoc on the economy and our health, it is setting the stage for a permanent Big Government. Many say yes, this is happening. Well be right back. When we started our business we were paying an arm and a leg for postage. I remember setting up shipstation. One or two clicks and everything was up and running. I was printing out labels and saving money. Shipstation saves us so much time. 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Charles you know, we know that the coronavirus is a Health Crisis and it is affecting the entire world but my next guest says despite social distancing the crisis has been a Unifying Force bringing countries and communities closer together and the virus is setting the stage for Big Government to take a larger role so policymakers, well, of course they wont let a crisis go to waste. Joining me jack ablin. Jack, thanks for joining us. Lay out the premise for us where were going to be when this crisis is over . Sure. I mean think about how involved right now the federal government is in managing this coronavirus crisis, not just here of course but you know, governments across the globe and i think in many respects these governments like the fact they have this power to direct and control. Given that now weve learned as were learning lessons from this crisis globally but also here at home, we found, for example there, are a number of vulnerabilities in our system. One, we all know now how much we rely on countries like china for medical equipment. In 2018 we imported more than 5 billion of critical medical supplies and pharma from china and you know, just simple tests, masks. Remarkably wuhan is a key manufacturer of masks. There are going to be some steps that we learn that a lot of it actually, aligns with what President Trump was talking about, reshoring a lot of manufacturing but it also aligns with what a lot of democrats have been espousing, that is, this difference between health care and Public Health. When it comes to Public Health it is a very easy transition from covering, you know, the general public to, either a medicare for all or some kind of a nationalized health program. Charles right. Well have to see how far the fiscal side of things takes it. Charles then let me hit that. These are two separate tracks and theyre both Major Political topics going into the election. You know, itch heard also that this crisis justifies universal basic income. That this crisis justifies modern Monetary Policy or theory, mmt where the Federal Reserve can print as much money as possible and use that to cure social ills no matter what they are. These things have been espoused by Bernie Sanders of the world. Do you think they get more momentum as we head into november . More americans say, yeah, maybe ive had an epiphany, it does work or will people look back on the capital is tick system coming to the way of their fellow man not happening in a way in other countries, maybe that the system needs to be tweaked but not thrown away . I think that is a fantastic question, charles, and one ultimately remains to be seen. I do think that now that we have this openended Quantitative Easing Program where the Federal Reserve has now partnered with blackrock to buy Bond Exchange certainly has s p 500 Exchange Traded funds too. Charles sure. You can see aression, particf economic conditions, you know, work out worse than perhaps were planning, that the next step was not just print money to fund and create financial stimulus through the financial circulatory system and liquidity but actually print money and build bridges, print money, build hospitals, whatever. That is modern monetary theory that you described and it is not that far away from what were currently doing. Charles youre absolutely right. Well see what happens. You know, although there should be a distinction between a crisis and then a position where we want americans to continue to be self, pull themselves up by their own bootstraps. Thanks a lot, jack. Unemployment will get worse. There is no doubt about that. Many unemployment claims are coming from Restaurant Industry which is getting walloped by the pandemic. The National RestaurantAssociation Says the industry already lost 3 million jobs, 25 billion. Yesterday we told but the new restaurant relief fund. We spoke with Food Network Star guy fieri. Take a listen what he had to say. These restaurants, momandpop joints, even corporate restaurants, are the fabric of the community. If businesses close down, not just the business owners. You have employees that are hourly, you have employees that live paycheck to paycheck. You have three million out of work now, on the way to five to seven million. The National Restaurant association, myself and a bunch of great companies, pepsi, uber and constellation brands, so forth started this. We have 8. 3 million bucks on the way to 100 million. Well try to support the people serving us forever. Our chance to serve those folks. Charles following the interview, people running the fund wrote to us to say that there was an immediate spike in online donations. So i personally want to thank making money viewers for being so generous. We love you. Thank you so much. Of course well be looking for ways to keep america together. Keep it up. 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