The Trump Presidency: Part 20

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Trump's fault was forcing the Fed to act before it was prudent. Now it seems that nothing it does is working.
And, of course, no one believes that Trump will or can do anything helpful.
I wouldn't be surprised if the Markets went up upon learning that Trump has caught Covid-19.
 
The Great Zaganza said:
I wouldn't be surprised if the Markets went up upon learning that Trump has caught Covid-19.
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Dear Markets:

The undersigned pledge to purchase one hundred of stock stuff, each, if the current president resigns in disgrace and/or is fed to a pack of wild parakeets.

Love,

[sign here]


There, crisis solved.
 
Just about every finiancial expert I have heard has siad that getting the virus under control is the only thing that will stop the downward plunge.
 
I wonder is some GOP senators are now regretting they did not get rid of the idiot when they had the chance.
 
The Don said:
I have it on impeccable authority that the Trump Administration's response to the Coronavirus has been perfect.
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That's certainly what Dear Leader says. Do you doubt him?
Determined not to be outdone by his own malice and depravity, Trump is taking new steps that threaten to make all of it worse. He’s telling millions of Americans to entirely shut out any and all correctives to his falsehoods. He’s insisting they must plug their ears to any criticism designed to hold his government accountable for the failures we’re seeing, even though such criticism could nudge the response in a more constructive direction.

Trump is now raging at the media for reporting on his botched claims about Google’s plans for a new website to steer people to testing options. Trump dramatically overpromised in this regard, forcing Google to scale down the expectations he had created.
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https://www.washingtonpost.com/opinions/2020/03/16/trumps-rage-media-takes-dangerous-new-turn/

I’ve reviewed all of his public statements and actions on coronavirus over the last two months, and they show a president who put almost no priority on public health. Trump’s priorities were different: Making the virus sound like a minor nuisance. Exaggerating his administration’s response. Blaming foreigners and, anachronistically, the Obama administration. Claiming incorrectly that the situation was improving. Trying to cheer up stock market investors.
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https://www.nytimes.com/2020/03/15/opinion/trump-coronavirus.html
 
The Great Zaganza said:
Trump's fault was forcing the Fed to act before it was prudent. Now it seems that nothing it does is working.
And, of course, no one believes that Trump will or can do anything helpful.
I wouldn't be surprised if the Markets went up upon learning that Trump has caught Covid-19.
Click to expand...
I think the market is very negative on the idea that the Fed Chair can be browbeat by the President. I can't disagree with that sentiment from the perspective of institutional investors.

As to: it's just the coronavirus panic, therefore the markets are really ok.

No. Most recessions had some cause external to the trading markets that the trading markets then acted on. In fact some of the response measures will directly contribute to recession. Shuttering of whole classes of businesses means in a couple of months we'll see a rash of evictions and foreclosure filings. When occupancy rates and assessments fall, notes go into default, credit markets slow down... (sound familiar yet?)
 
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The worst aspect could be this: Hundreds of thousands of people will get sick and thousands will die over the next few months, and the stock market will continue to collapse. Then, around the middle of summer, infections will decline, antiviral medications will be developed, the stock market will start to recover, and by Election Day Trump will be able to tell crowds "I protected you, I saved you, I fought the virus for you and I won," and an awful lot of people will swallow it.
 
Bob001 said:
The worst aspect could be this: Hundreds of thousands of people will get sick and thousands will die over the next few months, and the stock market will continue to collapse. Then, around the middle of summer, infections will decline, antiviral medications will be developed, the stock market will start to recover, and by Election Day Trump will be able to tell crowds "I protected you, I saved you, I fought the virus for you and I won," and an awful lot of people will swallow it.
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Those people would be an awful lot.
 
Bob001 said:
The worst aspect could be this: Hundreds of thousands of people will get sick and thousands will die over the next few months, and the stock market will continue to collapse. Then, around the middle of summer, infections will decline, antiviral medications will be developed, the stock market will start to recover, and by Election Day Trump will be able to tell crowds "I protected you, I saved you, I fought the virus for you and I won," and an awful lot of people will swallow it.
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His base will swallow it, don't know that many othere will.
 
Bob001 said:
The worst aspect could be this: Hundreds of thousands of people will get sick and thousands will die over the next few months, and the stock market will continue to collapse. Then, around the middle of summer, infections will decline, antiviral medications will be developed, the stock market will start to recover, and by Election Day Trump will be able to tell crowds "I protected you, I saved you, I fought the virus for you and I won," and an awful lot of people will swallow it.
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That certainly has been the pattern for President Teflon, but I wonder if the coronavirus epidemic might be an exception. People will have been through multiple truly terrifying moments between now and the election that will be hard to forget. The coronavirus will not be gone, just hopefully on the decline, and people's very day to day lives will still be notably restricted and shaped by it. Virtually everyone will know of individuals within their family or social network killed by the virus. Virtually everyone will have taken a big financial hit that will not have been reversed by then.

Often for the poor and middle class the financial hits will range from loss of their salaries for many months (placed on unpaid leave) up to layoffs and loss of their jobs; these will not be as quickly reversed as the stock market might be. These are very personal and very emotion events. Although not an economist I also think the stock market will be slow to reverse fully. At the higher end there will be lots of cash on hand that companies, financial institutes will want to re-invest. But I suspect the initial re-investments will be very conservative. And lower level investors will remain spooked for quite a while. After the Great Depression many people distrusted even banks and it took 2 decades for stocks to fully regain their value.

So how many of the Republicans who have gone through this will still not blame Trump? I don't know, but they will definitely be looking for someone to blame. By then, and after enough Trump televised speeches, perhaps the depth of these emotions will break through their "Trump is a god" way of thinking.
 
Bob001 said:
The worst aspect could be this: Hundreds of thousands of people will get sick and thousands will die over the next few months, and the stock market will continue to collapse. Then, around the middle of summer, infections will decline, antiviral medications will be developed, the stock market will start to recover, and by Election Day Trump will be able to tell crowds "I protected you, I saved you, I fought the virus for you and I won," and an awful lot of people will swallow it.
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No, the economy will likely be somewhat slow to recover, probably not significantly until early next year. And those people, his base, might actually remember that schtik of "no biggie", "Democratic hoax" especially if in their circles actually have died and the hospitals been overcrowded and their younger family members have been getting unemployed. I mean how far you can go with cognitive dissonance? Like endlessly?
 
From the WAPO:

President Trump told governors Monday that states should work on getting respirators and ventilators, and not wait for the federal government to provide them. The president’s comment was confirmed by multiple officials briefed on the call to governors earlier today.


I other words, screw you, COrona 19 pateints.


I wonder who long until this statement gets walked back.
 
I'm sure dead people are just another thing that are acceptable losses to the "LOL this just proves my straw nihilism" edgelords and the "We deserve to be punished for depending on the government too much" psychopaths.
 
Don't forget, it was Reagan that started the "I'm from the government and I am here to help you" being a scary concept. Still applies to many Trumpster's thinking. Just go into the bunker.
 
TragicMonkey said:
"The future? I know the future, the greatest future, the biggest. The big, best future, with me. People say, saying all the time, 'Sir, you know the futures, the Dow, all of it. The best.' And they're right! When Hillary was president, the Dows were bad. Not good. The worst. Biggest...with President Trump, I know the Dows, Mr Dow, the head of Dows. He said to me, 'Sir, the best, the big...[inaudible]...best future!' And Obama, he, uh, he [untranslateable] not future, the futures, down Dow. Dow future, me, biggest best, President Trump! [horse noises] Trump! The biggest, not insane, [humming tune], why do they keep trying to give me medicine, I'm healthy, the biggest health, health Dow future Trump! People say, are saying! And they're right! Can I get McDonalds?"
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At first I was peeved that TragicMonkey didn't post the link to where Trump said all this. Oops! Classic! Also-

Sad!
 

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dudalb said:
From the WAPO:

President Trump told governors Monday that states should work on getting respirators and ventilators, and not wait for the federal government to provide them. The president’s comment was confirmed by multiple officials briefed on the call to governors earlier today.


I other words, screw you, COrona 19 pateints.


I wonder who long until this statement gets walked back.
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States? Individuals should be building them in their basements, garages or sheds!
 
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