Due to a snafu (don't ask), my shoulder surgery was rescheduled for today. So here I am, forced to comment on the twin terrors of the coronavirus threat and the economic meltdown which the disease is causing.
The Dow Jones average closed down over 2000 points yesterday, erasing Cheetolini's major claim to re-election. Despite his chaotic leadership style, the stock market has continued to rise at about the same rate as it has through much of its 11 year rally. Lately, some investors have said stocks were over valued and due for a correction, but tRump has hectored everyone from the Federal Reserve to multiple government agencies to promote policies which continue the sugar high. Thanks to Covid 19, the inevitable correction will probably show the way to a recession in the middle of the presidential campaign. Some have already suggested if support for the president* and republicans in Congress craters, there will be calls for the election to be delayed!
Meanwhile, the human toll of the coronavirus and the government's completely inadequate response is the real story. Governors are stepping up in the vacuum of tRump's inability to lead and are now the frontlines of the fight. As more testing is done, the full scope of the epidemic is likely to bring calls for a nationwide shutdown such as the one instituted by Italy. Let's hope it doesn't come to that.
No comments:
Post a Comment