Trump hates coronavirus because it’s tanking the stock market


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.

3 thoughts on “Trump hates coronavirus because it’s tanking the stock market

  1. Dumb Bunny says:

    ‘Wrong from Day One’: Trump Slams Fed Chairman over Coronavirus Response https://www.nationalreview.com/news/wrong-from-day-one-trump-slams-fed-chairman-over-coronavirus-response/ “In July, the Fed slashed interest rates for the first time since the 2008 economic crisis, a long-expected move aimed at preserving the record economic expansion in the U.S. amid concerns that it may be nearing its end.”
    How Coronavirus Could Impact the Global Supply Chain by Mid-March https://hbr.org/2020/02/how-coronavirus-could-impact-the-global-supply-chain-by-mid-march?ab=hero-subleft-1
    WHO chief warns ‘we are in uncharted territory’ as number of coronavirus cases worldwide passes 90,000 https://www.cnn.com/2020/03/03/asia/novel-coronavirus-covid-19-intl-hnk/index.html

  2. Mary Mallon says:

    Mike Pence wipes his nose before shaking hands with US officials after Donald Trump appointed him to lead the U.S. response to the coronavirus outbreak https://crooksandliars.com/2020/02/watch-mike-pence-shows-why-hes-terrible …immediately afterwards he flew on Air Force Two to Florida to attend a $25,000-per-plate GOP fundraiser.
    Cronyism and Conflicts of Interest in Trump’s Coronavirus Task Force https://theintercept.com/2020/02/29/cronyism-and-conflicts-of-interest-in-trumps-coronavirus-task-force/

  3. 3Card Monte says:

    “Trump suggests using flu vaccine on coronavirus and is instantly corrected by health experts: ‘No’ : President appears to not understand basic information about vaccine testing” https://www.independent.co.uk/news/world/americas/us-politics/trump-coronavirus-flu-vaccine-us-pandemic-meeting-leonard-schleifer-a9371286.html
    “President Donald Trump on Tuesday demanded that the Federal Reserve cut rates even more after the central bank announced it would slash rates by 50 basis points in an effort to combat the economic impact of the coronavirus outbreak.
    The Fed on Tuesday cut interest rates by half a percentage point in response to the threat to the economy from the outbreak.” https://www.cnbc.com/2020/03/03/trump-demands-that-fed-further-ease-after-50-basis-point-rate-cut.html
    “This is the first time the Federal Reserve has made such a steep cut since the 2008 financial crisis. Gold prices are up sharply in initial reaction to move. April gold futures last traded at $1,618.80 an ounce, up 1.5% on the day.” https://www.kitco.com/news/2020-03-03/Gold-price-shoots-higher-after-Federal-Reserves-surprises-with-50-basis-point-cut.html

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