The virus will peak in a few months and subside and further recede with a vaccine…
The US and World economies will probably sink lower and for longer….
The loss of money and value is as real as the disease losses….
Coronavirus is already the most serious threat to the U.S. economy since the financial crisis, and the dominoes are aligned for a severe recession that could erase much of the 11-year recovery.
What’s happening: While the outbreak itself is unlikely to drive an economic collapse, the U.S. has been something of a ticking time bomb for some time.
- Growth has declined over the last two years despite higher government spending and a $23.4 trillion national debt.
- While the labor market has boomed, many of the jobs added have been hourly service-industry positions that offer limited scope for savings or health insurance.
- 44% of all U.S. workers earn barely enough to live on, a Brookings Institution studyfound in January.
Where it stands: While President Trump said late Monday that he would work with Senate Republicans on a “very substantial” payroll tax cut and relief for hourly workers, such measures — if they can be enacted — could still be insufficient to fend off a recession.
- Consumer spending has held up the economy for the last year, even as the U.S.-China trade war gutted the manufacturing industry and businesses broadly cut back on investments and outlays.
- Many companies chose to hoard their savings from the Tax Cuts and Jobs Act in cash or use it to buy back their own stock.
At the same time, corporate America is more heavily indebted than ever before, due to years of record-low interest rates and increased borrowing….
The crashing stock market and slowing economy are raising worries for older Americans who are retired or preparing to retire.
Stocks fell off a cliff Monday as oil prices dropped and fears of the coronavirus intensified. The Dow Jones Industrial Average was trading down 2,000 points, a 7.8 percent drop, its worst day since the 2008 financial crisis.
That could spell trouble for President Trump as he faces reelection in November as older Americans who voted Republican in 2016 feel the heat and with Democrats seeing an opportunity to sharpen their case for expanding Social Security.
Retirees, or those preparing to retire, often have a significant chunk of their retirement portfolios invested in stocks.
“Disproportionately, older households have more exposure to stock market fluctuations and less time to catch up,” said Monique Morrissey, an economist at the Economic Policy Institute, which focuses on poverty reduction….
Paul Krugman
@paulkrugman
Is it just me, or do stocks fall every time Trump holds a news conference on the coronavirus? It’s as if investors need constant reminding of his cluelessness.
…
Peirce Morgan
@AbdulkarimZane
Replying to
@paulkrugman
We are seeing irrefutable proof that Trump is in fact a very, very, very bad businessman.
“ The virus will peak in a few months…”
So sayeth A real medical “ expert!
But Biden didn’t let a gun nut asshole go unchallenged, so gotta sit this election out!
Or at least so sayeth our resident Cubs fan.
This new Cubs obsession is priceless.
There is a way to deal with unfriendly people on the “rope line.” Saying you will slap them in the face is not one of them.
You would whine and be angry if Trump did it, but if Biden does it, you merely pretend to cheer for him. All of that makes you sorta fake.
First of all there is a difference between standing up for yourself and bullying people.
Secondly Trump’s bullying is only one reason he is unfit for office.
Like your fellow Republicans you agree with him on most issues so I can see how that would not be the case with you
Biden is a candidate for President. He is a former Vice President. He ran into someone who isn’t going to vote for him. He ought to move on. He doesn’t need to defend himself. He certainly does not need to threaten violence. What if the worker said he was going to slap Biden? He has been doing this with voters since 1988, when on camera, he got all righteous with a voter and claimed he had a much higher IQ, etc, and that the person questioning him could never have gotten scholarships like he did.
Then more recently he challenges an old “fat” guy to a pushup contest and calls him a “damn liar” and then calls a young woman a “dog face”.. (but yes, Lord forbid Bloomberg told a racy joke in 1980…)
Biden is either doing this on purpose all these years to try to demonstrate something or he is a very insecure, little man, much like Trump.
On Biden’s throw back to guy saying Biden would take his gun?
We need to see MORE of this Joe Biden‼️
Trump lies like rug….
Bernie make’s promises he can’t keep…
Screw that guy!
Biden and Obama HAVE been carful NOT. to say what Beto said about taking away people’s guns!
If you listen to the complete back and forth Biden says THAT!
Joe Biden IS gonna have to get tough and why not start with the hecklers…
This sorta stuff will slow when Biden gets Secret Service protection, people won’t be able to get in his face…
But?
If it’s up to Trump?
Biden won’t any protection
That while Trump has the government patting HIM for his , eh?
I doubt I agree with Trump on “most issues”, but as I have always said, it wouldn’t matter if I agreed with him on all issues. A bad person is a bad person. Wrong is wrong. Character counts to me above all else.
So, I can reject Trump out of hand for his behavior, yet you cannot even bring yourself to admit that Biden may act inappropriately. I am in not any way asking you to not vote for him. That’s your choice, but your defense of this specific situation, where if the party labels were reversed, you would be acting much differently, is pure hypocrisy.
Biden’s style wouldn’t be my style. The guy he called “fat” is still going to vote for him. “Dog face pony soldier” is some line from an old movie meant as a joke–that obviously bombed. The woman apparently laughed as did the others around them both.
When he calls women who accuse him of sexual assault “not his type” or tells women of color who were born here to “go back” or mocks a disabled reporter I’ll give some credence to your idea that they are somehow both the same. Till then I’ll put it in the circular file.
Just what Trump people say…
Jack is right. You need a girlfriend.
One that is human and has flaws. Not a picture of perfection like your dream candidate that doesn’t exist . It’s more fun to live in the real and flawed than the perfect fantasy
First of all, you know nothing of my personal life, in regards to marriage, or health, just as I do not that information about just about everyone here, beyond what they have voluntarily posted, and I never would think of bringing that up. so that’s beyond classless on your part.
You are simply a tribalist robot and always have been. A Republican will never do anything right. A Democrat will never do anything wrong. That makes it easier for you than actually having to think.
You can act like a big tough guy online, but when you were on the radio with Dana Loesch, you shriveled like a pea.
Nobody is asking for a candidate to be perfect but it is not too much to ask that candidates for the Presidency do not go around saying they are going to put their hands on people over an argument. Not even Trump has done that.
There are so many reasons for America to vote out Trump, but you submit the moral high-ground when Biden acts like this and his insecure fanboys cheer him on, because they know how flawed he is otherwise.
As the saying goes, “the children are watching.”
Ouch?🙄
So Jack is “classless” too?
Biden was also factually inaccurate in his exchange with this “gun nut” and defended himself by saying he owns guns and his sons are hunters, which is pretty much what Trump could have said too. Is that the way NRA-fighters are supposed to defend themselves?
The bottom line is that Beto O’Rourke openly gloated he will confiscate guns and just last week Biden said publicly that O’Rourke will run gun control policy if he is President. Now, perhaps Biden was excited and just blurted that out without giving it any thought, but he did say it.
So, Biden goes to campaign (not at an NRA convention) but at a UAW auto plant. Supposedly a good place for a “working class Democrat” to be.
Biden proceeds to insult and swear at someone and threaten to slap them in the face, and as he walks away, the workers start chanting, “Trump! Trump!”
Great job Joe.
“Just stay calm…it will go away.”
Trump,Donald J, President of the United States.
Trump?James?
With medical “experts” like this?What could go wrong?
Jack..
Yes….
According to the experts..,,
Like any virus ?
It WILL peak and then decline…
I hear people already annoyed at the increasing shut down of things…And the fear pushing media coverage…
The point to the fact that in this country the ‘flu’ is worst ….
Ignorance is bliss.
No
Actually listening to the ‘experts’ not just the screaming media talking heads…