It looks like the government is ‘going big’. Billions of dollars in government loans are being made available to small businesses throughout the country in order to prevent the bankruptcies which are almost guaranteed if shelter-in-place becomes nationwide.
In addition, there is little doubt that the cruise, travel, gaming, and hospitality industries are losing massive amounts of money daily and are going to need help as well.
In the U.S., in its haste to assist small business, there are going to be businesses and entities that take advantage of loopholes. We already know how smart the coronavirus has become over the last few months and today we see just how shrewd.
As of yesterday, the JCN has received hundreds of loan applications from the virus itself. However, to date, only 52 applications have been approved.
This is only a 3 percent approval rate and just this morning the ACLU has charged the government. with discrimination by labeling the virus, “Chinese”.
“This is no time for racism,” cries the ACLU, and as more details become available GT will be on it like “white on rice”. Oops. Sorry.