Incompetent chooses ignoranus
Escalating fears of the coronavirus’s spread in the US sparked one of the biggest sharpest sell-offs in recent years. Across three days this week, the Dow Jones industrial average plunged over 2,000 points and the S&P 500 erased its yearly gains.
The precipitous losses sparked alarm bells within the Trump administration, particularly the president himself. He is furious that the stock market has tanked over the coronavirus, the Washington Post reported. And he was enraged at the Centers for Disease Control and Prevention for issuing stark warnings that he believed frightened traders and investors…
Warnings from top public health officials urging Americans to prepare for the spread of the virus have collided with the rosy luster the White House tried casting on the situation up to now. And it threatens a pillar in President Trump’s case for re-election: the booming stock market.
Jeremy Konyndyk, a senior fellow at the Center for Global Development who oversaw the Obama administration’s response to the Ebola outbreak in West Africa as director for foreign disaster assistance at USAID, said the administration’s effort to ward off more steep market losses could still backfire…
“You don’t want to look like you weren’t on top of things… If you’ve been saying for a month that this will be contained and it’s under control, then it doesn’t get priced in and then there’s a greater disruption when it does occur,” he said.
The clodhopper crowd who believe everything Trump tells them have no problem with this. He will simply roll out a new excuse for his lies – and Trump loyalists will bleat “yes sir, no sir, three bags full, sir”.
Recognizing a threat and dealing with it simply isn’t a bad idea, you know. No need for fearmongering. No need to make political excuses either.