 medical supplies. Testing and testing capabilities are expanding rapidly day by day. We are moving very quickly. The vast majority of Americans, the risk is very, very low. Young and healthy people can expect to recover fully and quickly if they should get the virus. The highest risk is for elderly population with underlying health conditions. The elderly population must be very, very careful. In particular, we are strongly advising that nursing homes for the elderly suspend all medically unnecessary visits. In general, older Americans should also avoid non-essential travel in crowded areas. My administration is coordinating directly with communities with largest outbreaks and we have issued guidance on school closures, social distancing and reducing large gatherings. Smart action today will prevent the spread of the virus tomorrow. Every community faces different risks and it is critical for you to follow the guidelines of your local officials who are working closely with our federal health experts and they are the best. For all Americans it is essential that everyone take extra precautions and practice good hygiene. Each of us has a role to play in defeating this virus. Wash your hands, clean often used surfaces, cover your face and mouth if you sneeze or cough and most of all, if you are sick or not feeling well, stay home. To ensure that working Americans impacted by the virus can stay home without fear of financial hardship, I will soon be taking emergency action which is unprecedented to provide financial relief. This will be targeted for workers who are ill, quarantined or caring for others due to coronavirus. I will be asking Congress to take legislative action to extend this relief. Because of the economic policies that we have put into place over the last three years, we have the greatest economy anywhere in the world by far. Our banks and financial institutions are fully capitalized and incredibly strong. Our unemployment is at a historic low. This vast economic prosperity gives us flexibility, reserves and resources to handle any threat that comes our way. This is not a financial crisis. This is just a temporary moment of time that we will overcome together as a nation and as a world. However, to provide extra support for American workers, families and businesses, tonight I am announcing the following additional actions. I am instructing the Small Business Administration to exercise available authority to provide capital and liquidity to firms affected by the coronavirus. Effective immediately, the SBA will begin providing economic loans in affected states and territories. These low interest loans will help small businesses overcome temporary economic disruptions caused by the virus. To this end, I am asking Congress to increase funding for this program by an additional $50 billion. Using emergency authority, I will be instructing the Treasury Department to defer tax payments without interest or penalties for certain individuals and businesses negatively impacted. This action will provide more than $200 billion of additional liquidity to the economy. Finally, I am calling on Congress to provide Americans with immediate payroll tax relief. Hopefully, they will consider this very strongly. We are at a critical time in the fight against the virus. We made a life-saving move with early action on China. Now we must take the same action with Europe. We will not delay. I will never hesitate to take any necessary steps to protect the lives, health and safety of the American people. I will always put the well-being of America first. If we are vigilant and we can reduce the chance of infection, which we will, we will significantly impede the transmission of the virus. The virus will not have a chance against us. No nation is more prepared or more resilient than the United States. We have the best economy, the most advanced healthcare, and the most talented doctors, scientists, and researchers anywhere in the world. We are all in this together. We must put politics aside, stop the partisanship, and unify together as one nation and one family. As history has proven time and time again, Americans always rise to the challenge and overcome adversity. Our future remains brighter than anyone can imagine. Acting with compassion and love, we will heal the sick, care for those in need, help our fellow citizens, and emerge from this challenge stronger and more unified than ever before. God bless you, and God bless America. That was President Trump from the White House detailing his remedies for the economic situation the United States have put $200 billion of stimulus. And Trump also announcing that they are canceling all flights to Europe for one month. All flights canceled from the U.S. to Europe for one month. And a $200 billion stimulus. Wow. Well, President Trump announcing a series of proposals tonight that he says will go into effect virtually immediately. The travel restrictions from Europe. Anybody see the futures? What they look like? Are the futures pumping? Anybody see the futures right now? Are they pumping? Left to know what you guys think. We just heard about Trump there. For the first time he sounded like this was serious. This was the first time he actually sounded very serious. The World Health Organization has declared that this is a pandemic. The stock market has crashed again after crashing on Monday. And Donald Trump is finally admitting that this is a global pandemic and this is a major issue and this is a major problem. Red futures down 1.5% interesting. I'd anticipate that the futures would go green based on the stimulation in the market of $200 billion. He did mention $50 billion plus an additional $200 billion with everything included support for small businesses support payroll tax support all kinds of funding for people that are affected by the coronavirus. So hopefully this stems the tide and hopefully we can find a way to get through this. But this is a really dangerous time. This is a very, very, very bad time. And now we are going into what a lot of people say is a recession and we're in a bear market for the first time now in 11 years. Anthony Rice says the Dow is down 350 points. Fat Nuts says, yeah, I'm watching it right now and CBS News. Global depression. It's a major problem. It's a global problem. The US has just canceled all flights to Europe from America for the next 30 days. That's a pretty substantial move. And there's going to be consequences for the travel industry clearly. So what do you guys think about this news? What do you think about this move by President Trump? Just now live addressing the nation and admitting that this is a global pandemic now, but he does believe that America is well equipped to handle this as well, if not better than anybody. What do you guys think about this? They will stimulate the market. I believe the markets will come back. I believe the markets will be strong again. The question is, where do the markets go from here in the short term? Futures are tanking. Yeah, that's not good. You know, what's funny is I heard and some people say today that the coronavirus is 10 times stronger than the flu. So I haven't seen that article or I don't know if it's directly from the World Health Organization, but there are people that are saying that the coronavirus is 10 times stronger than the flu. What happened to all the people that were trying to say that this is just like a flu? All the experts, Dr. Drew, Dr. Phil, all these doctors, now they're coming out and saying this is 10 times worse than the flu, which I've been saying since day one and everybody's saying I'm crazy. I'm overreacting. I'm a fearmonger. This is just the flu. Even Trump just said, wash your hands. Is that really going to help? Richie Rich says the doctor said 10 to 15 times worse. You would think it's worse because they're shutting down Italy. They're shutting down China. You don't shut down countries for something that's just the normal flu. You don't shut down the Golden State Warriors games for something that's just the flu. You don't shut down March Madness for the flu. You don't shut down Juventus games for the flu. Jody says it's 32 times worse than the flu. Dylan Fraser saying heading down almost 2%. Michelle Clark says wash your hands and don't breathe the air. Scary. Frank says Rich, our governor of Maryland was on live TV live today and said a doctor confirmed yes, it's 10 times more lethal than a flu. Isn't that what I've been saying since day one? And everybody's been trying to downplay this. Oh, it's not a big deal. Don't panic. Meanwhile, no toilet paper anywhere. So, wow, the Dow Jones is down another 500 points. Oh my goodness. The VIX exploded. Volatility index, man. That's what we should be buying right now. Pete Ferrero says, Rich, the Oklahoma City Thunder just canceled their game for tonight. Guys, this is a part of the new world in 2020, man. It's very scary. Matthew says quick lock up on toilet paper. Brian says unless they are trying to collapse governments to bring in globalism or do away with paper monetary system. I am 4G1 and 3 says a sentence that sums this entire thing up. Make sure no one knows until everyone knows. I think everybody knows now. Frank says I said that about the VIX last week. To you, not sure if you remember. Man, things have been happening so crazy, so fast. I can't even keep track of nothing anymore right now. I can't believe what's happening in this world. I can't believe what's happened in 2020. It's crazy. Michelle Clark says now all travel to Europe is banned. Cargo ships from Europe are banned. The big B man says the NWO making its move. Leo says Trump's speech was amazing. Oh, so amazing about it. The market's not responding very well to it so far. Michelle Miller says I'm disappointed. Michelle, we talked about this for six weeks now. Apparently Canada's declared a billion dollars in support. Listen. liquidity. You've got to admit that's a big number. Yeah, I suppose so. Let's look first though at this ban on travel for 30 days with Europe because that's having a big effect on European futures as well. The Dax down 155 points now and the Euro stocks 50 trading down about 55 points. The SBE mini is here at the moment down 1.9% and we did see a dip in the yield on 10 year treasuries. We had seen a little bit of a lift in yields earlier but down to 76 basis points now and we were at about 83. So I'm just listening to BNM Bloomberg and I just heard Donald Trump talk about a $200 billion stimulus plan to maintain and support the American economy and he just announced all cancellation of travel to Europe for 30 days. So far, the market isn't responding very well to it. The futures are obviously down. We're in the middle of what a lot of people are saying the end now of the bull market. We're now going into bear territory where the bull market is officially done. That's what a lot of people are saying. Hopefully that's not the case. Hopefully we can get the economy back on track. Hopefully we can get things back to normal. We were in the middle of a market melt up before this crazy pandemic. Let's see how we deal with this pandemic. This is definitely something that I've never dealt with in my life. I've never seen anything like it and I don't think that there really is a handbook on how to deal with this. Yeah, well hopefully China is recovering rapidly. That's what people are saying. Whatever they're doing they need to share their secrets with the rest of the world because the rest of the world like Italy, for example, is really struggling. Italy is really struggling with this right now. Yeah, I've been taking a look at PCTL, but PCTL has a stop sign. I don't trust anything with a stop sign, but I'm not saying you shouldn't buy it. It's up 2000%. So congratulations to everyone who's taking advantage of that move, but it's got a stop sign. Be careful guys. It's a lot of hype. It's a lot of hype. The handbook has had three months of food at home, enough cash to cover bills for three months. It's all you can do. Dylan Fraser says corona stocks are the safe haven. Hey man, AGN was a good pick bro. Well, I mean, this is something that couldn't be predicted and has clearly affected the entire market and will continue to, I believe so, until we find a cure. 268 on the spy rich. We're down 268 points. Traveler in time says 3k point drop tomorrow. 3k point drop. The index is getting hit also. Yeah, it's a lot of people are pulling money off the table. People are just scared, right? They're pulling money off the table. They're saying, you know what? I'm going to stay in cash. Cash is king and it's going to have an effect on everything. This is having an effect on everything. It's very hard to trade this market. Why is everyone overreacting? Well, it's just been considered a pandemic by the World Health Organization. So I think everybody is responding to the fact that it's just been announced that this is a pandemic. So I think it's a pretty natural response. There's a lot of people that want to live in their bubble and pretend like this isn't real. Well, why did the World Health Organization just declare this a global pandemic? It's all good, but don't worry about it. Robinhood will probably crash again tomorrow. Yeah, it's possible. I mean, I don't know. I can't speak for Robinhood. I don't know what's going on with that platform, but they seem to be having a lot of problem. When the streets are covered in blood, bye, bye, bye. I agree. Oil is at the bottom in my opinion. You could have got it for like 27 bucks a couple of days ago. It's going to be very interesting to see what happens tomorrow. That's for sure. It's going to be very, very interesting to see what happens tomorrow. FYI, oil just hammered clearly less travel demand. Miroslav says, I don't believe the coronavirus. I know it's a hoax. So you believe that basketball teams are canceling games. March Madness is not going to have any fans watch the entire tournament. Juventus and Italy teams in Italy are having games with no fans going to the games because of a hoax. You think this entire world shuts down because of a hoax? I don't think so. David says, A G N I S O C O D X V XL A I M Ronnie Ray says, this blood ain't the same blood. It's definitely a crazy situation. I mean, I don't think anybody really knows what's going to happen with anything because these markets are very fragile and this is a historic event. Never has anything like this happened in the world that has happened in our lifetimes and nobody really knows how to handle it. So we're just going to try to handle it the best we can, right? Will the Dow go below 20,000? It's possible. Anything's possible at this point. Michelle Clark says, Rich, every time I buy a stock, the price I pay is always different than when I place the order. Why is that? Because you're doing a market order. You need to do a limit order. When you do a limit order, you can put in the exact price you want to buy a stock for. You're rich. How much months of food have you supplied? I mean, I don't know, a couple months. Q. Phillips says, why is Citron research such a bully? They shorted shop as well in the past. I don't know. It's a great question. I hope Trump works as magic too. Jose Cologne says, wow, is amazing. I've been wars for the US. Never seen nothing like this before. Yeah, it's very crazy. Frank says, it sucks that many people will die. So the rest of us eventually make good money in the market. But I guess that's how life goes. Leo says, 0% interest rate, home values might go down. I say time to buy a house. I'd probably wait. I think the pricing, the house pricing is gonna go down. That was a sweet conference with Andrew Maddrespecta, Rich and Andrew. It was nice we could get his perspective and knowledge. I agree with Rich, but was insightful from both parties. Futures down 2.5%. Bernard says, great videos, Rich. Keep doing what you're doing and educating. Cheers. Alright guys, I'm gonna go right now. I'm actually in the soccer practice. So I just wanted to break this news. Trump had some stuff to say. I want to break it, as I did. This is your boy, Rich from Mississippi Live, your midnight vampire reporting about Mr. Trump, President Trump. $200 billion stimulation plan. Stimulant package, stimulation package, and plan to cancel all travel to Europe from America. It's true. This is your boy, Rich from Mississippi Live, and I'm out.