Ignore economic data, details of aid packages are what matter

Ignore economic data, details of aid packages are what matter
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Dan Celia: Economic Data Won’t Have Much Meaning, But Details of Aid Packages Are Crucial

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PHILADELPHIA—Important economic data for February is expected this week, along with a few numbers for March, but nationally syndicated host and biblical investing authority Dan Celia says that in light of the coronavirus dominating financial headlines, the figures won’t have much meaning.

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Economic Data Isn't Going To Mean Much

“We’re getting a lot of important economic data this week, but it really isn’t going to mean much,” Celia said. “For March, we’ll see PMI manufacturing, service sector and consumer sentiment numbers. By the way, that’s a very important figure. But this is the consumer sentiment number coming out of Michigan, which I don’t feel good about. I’d rather wait for the consumer confidence index. But the consumer sentiment number on Friday is likely to be down considerably, probably as much as 10 points. It’s sitting around 96, and it wouldn’t be a surprise if it ends up in the neighborhood of 84 or 85.

“On Thursday, we get the last look for GDP for the fourth quarter of last year,” Celia continued. “It’s expected to stay the same at 2.1%, and that’s fine, but not many care about last year’s GDP. All eyes will be focused on the first quarter of this year and, of course, mostly second quarter, as we’re going to have a very ugly GDP number. Also out will be personal income and consumer spending-two very important numbers-but again, these are February numbers, so they will be OK. We had a good January and a good February, so there’s no reason at all that we should see these numbers drop off much. It will be the March number that will be really difficult.

What Will The Aid Packages Look Like?

“This week will be about nothing but the aid packages that are being passed through the Senate, how that shapes up and what that looks like,” Celia added. “I have some very good ideas that ought to be taken up with this bill, just to alleviate some of the stress people are having about supplying aid to America. I know these people are more focused on the debt than they are about the notion that we’re supplying aid. But aside from that, I think one of the ways to soften the blow is to have inside the package an exit strategy—a strategy that will include ownership of corporate America that we’re bailing out, as long as the bailouts are for the coronavirus.

But we need to have a written part of the bill that indicates that the ownership will be sold once it reaches a certain percentage above the money provided, and it should be sold immediately.

We don’t want to take ownership to hold ownership, but that money has to be designated to paying down the debt. It shouldn’t be used for anything else, and at least there would be a sense of responsibility about the aid packages that are being developed. I’m living in a fantasy world to think that will happen, but it’s something that should be considered.”

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Dan Celia is the CEO and President of Financial Issues Stewardship Ministries. Married to Registered Nurse, Yvonne, in 1980, Dan has two married daughters, is blessed with sons-in law who love the Lord, and has seven grandchildren. Dan has worked for 35 years as an entrepreneur and businessman, starting eight corporations and co-founder of two others. In 1999 Dan sold his Small Trust Company (managing over 900 million dollars) to go into Ministry. Dan has developed and uses a biblically-responsible system of financial management with great success. He started a radio ministry in 1997 as a part time ministry and has seen the Lord expand and bless this ministry to his current full-time ministry. Dan has interviewed newsmakers and pundits like Steve Forbes, Ben Stein, T. Boone Pickens, Tony Perkins, John Alison, Rayola Dougher API, Congressmen, Senators and Presidential candidates. He is proud of his partnership with the American Family Association where he serves as a board member. Dan is now on over 640 stations three hours daily, NRB TV, BizTV, Dove TV and CBN Life Style Network. Financial Issues is heard in every state in America and throughout the internet globally. Financial Issues has supporters from over 17 countries. Dan is a Regular Weekly Contributor to Townhall.com (the number 1 source for conservative news and analyzation). Dan has been a guest on Fox Business, Bloomberg, Salem Radio, Family Net, 700 Club,and many others . He is a conference speaker, author of six books, publishes a weekly newsletter and has been Executive Producer of several video productions and FISM TV is producing original family friendly content and other video projects all keeping with in FISM’s Christian world view.
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