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After days of arguing back and forth, the Senate finally reached a bipartisan agreement on President Donald Trump's $2 trillion economic stimulus package deal early Wednesday.

The bill contains checks ranging from $1,200 to $4,500 for individuals and small business owners. Families will receive an additional $500 for each child.

Checks for $1,200 will be sent directly to taxpayers who earned less than $75,000 a year in 2018.

But before you start spending money you haven't received yet, Tamar Braxton's fiancé, David Adefeso is sharing financial advice on his Instagram account.

The stock market is soaring on the news of the economic stimulus deal. David thinks you should take some of that federal money and invest it for your future.
 


 

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Small businesses including retailers, restaurants, real estate and personal care professionals, comprise the largest employer pool in the U.S. They are also some of the hardest hit during this shutdown because many haven’t built up enough cash reserves to account for the plunge in revenues they are currently experiencing, with no end in sight. Mass furloughs and layoffs by small businesses could drastically drive up the unemployment rate and cause consumer spending to plunge precipitously, thereby extending the inevitable recession. To make loans cheaper the Federal Reserve reduced interest rates to close to zero and Congress is currently debating measures to aid small businesses, including loan guarantees. For those who need immediate assistance, a growing list of programs exist to help small businesses, including emergency funding from the government, protection from eviction and business loan deferment. The Small Business Administration’s website (www.sba.gov) is a good place to start for information on some of these programs. “Together We Stand; But Divided We Fall”.

A post shared by David Adefeso (@david.adefeso) on

Mark Zuckerberg

Mark Zuckerberg was once the pride and joy of liberals, corporations and government officials who happily paid him for the personal data of Facebook users. Zuckerberg, 33, went into hiding after news broke that a British analytics firm working with the Trump campaign had obtained personal information on 50 million Facebook users.

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Dr Dre Donates $70 Million to USC

That's not a typo. Rapper Dr. Dre donated $70 million to USC to train "and inspire a new generation of innovators." Music industry executive Jimmy Iovine also pitched in a couple hundred million.

Both men donated to a program entitled the "USC Jimmy Iovine and Andre Young Academy for Arts, Technology and the Business of Innovation." The purpose of the program "is to shape the future by nurturing the talents, passions, leadership and risk-taking of uniquely qualified students who challenge conventional views of art and industry," according to USC.

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Quick, when was the last time our country was in a recession? If you don't know the answer to that question then the impending recession won't affect you so much. Analysts predict a recession looming on the horizon and the wrong people are worrying about it. The Chicken Little syndrome ("the sky is falling!") is in full effect because our people watch too much CNN. Folks who don't even know the definition of recession are talking about pulling their last $20 out of the bank.

The truth is the recession doesn't affect black people so much because, hell, we're always in a recession. What's the difference to us between a recession and just being black in a white man's world? Aren't we always the last hired and first fired? Aren't the words "laid off" as familiar to us as "chicken and waffles"? Don't we already get stuck with the highest interest rates on anything we buy? Are bankers lining up to give us loans?

The last recession was in 2001, albeit a mild one, but the point is most in the black community don't remember it. Last night a friend of mine said there hasn't been a recession in the last 28 years - and yes, he's black and educated.

Not to make light of a situation that has many white people nervous and checking their stocks every 5 minutes - but, do you own stocks? Do you own a plot of land that doesn't have a lien on it? Do you have over $5000 in the bank? Do you have at least one major credit card that isn't in the red? If you made the minimum payment on that credit card over the next 20 years would you pay the balance off?

If your answer to those questions are mostly no, then you have nothing to worry about. You'll be just fine.