Hi Gregory,

thank you for your efforts, I appreciate it! I watched your channel for a while now and I do have a question to you regarding what is happening with the FED. As I understood so far all of the FED money is not grants but it is essentially additional debt that has to be paid back. In other words it is additional leverage to all the companies in times of crisis.

I am well educated in business and know that leverage can always go both ways, it leverages earnings but it also leverages losses. So from that perspective in a time where companies are having possibly a lot of losses I really do not understand how all this FED money helps other than preventing short term inabilities to pay. I see this crisis unfolding over several quarters of the year 2020 so don't you think that all this leveraging might just result in high losses of the companies anyway in a few months from here?

Don't you think that from this perspective the markets are streched to far to the upside at the moment?

I would appreciate to hear your reply on this comment.

Best Regards,

Bernhard