Kevin O'Leary Says Biden Stimulus Package Is Dangerous Helicopter Money That Will Cause Inflation!

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Shark Tank investor and Chairman of O’Shares ETF, Kevin O’Leary, told Yahoo Finance Live that’s not the best use of taxpayer money. “We're just sending everybody free money from a helicopter,” he said. “That's not a great idea.” Instead, O’Leary said the U.S. government should only send checks to the unemployed, and pour more money into ramping up vaccine distribution. “I don't know why we're sending checks to people that are already employed,” said O’Leary. “That makes no sense to me. The deal should be this. If you are displaced by the pandemic, we will send you a check, because you're unemployed.” Treasury Secretary Janet Yellen said Monday that she doesn't believe fears of rising inflation or unemployment resulting from the Democrats' $1.9 trillion COVID-19 relief package are warranted. Speaking with MSNBC host Stephanie Ruhle, Yellen argued that the stimulus package expected to be passed by the House and signed by President Biden in the coming days would not pour too much gas on the U.S. economy, causing prices of goods to rise. "I really don’t think that is going to happen. We had a 3.5 percent unemployment rate before the pandemic, and there was no sign of inflation increasing," she said, adding that the administration has "tools" to reduce inflation if experts believe it will become a problem. Legal Disclosure: I’m not a financial advisor. The information contained in this video is for entertainment purposes only. Before investing, please consult a licensed professional. Any stock purchases I show on video should not be considered “investment recommendations”. I shall not be held liable for any losses you may incur for investing and trading in the stock market in attempt to mirror what I do. Unless investments are FDIC insured, they may decline in value and/or disappear entirely. Please be careful!

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