‘It’s Bad’
The US economy may be heading into a recession, Donald Trump conceded, during a coronavirus press briefing on Monday afternoon. "Pent up demand" will reverse the damage, he half-heartedly mused.
Stocks, which were already down around 9%, sank back to the lows hit early Monday after an initial trading halt was lifted. The Dow extended losses to 12% as the press conference unfolded.
Trump advised the nation to avoid travel, restaurants and schools, and said the effort to keep the virus from spre
“Everywhere and always, Pride goeth before destruction, and an haughty spirit before a fall.”
Truer words have never been spoken.
“Mitt Romney on Monday suggested sending every American adult $1,000 immediately. ”
He can start by personally handing out some of the funds he gained by destroying companies when at Bain capital. Mr. Rommney is very comfortable handing out other people’s money.
It appears that Trump has finally accepted his new reality……this was the best presser he has had and I was pleasantly surprised that he is finally acting like a President…..or as good a version as he is likely to be capable of.
Agreed.
Asked how he’d rate the government’s response to the virus, the president said he’d give it “a ten”.
This is Donald Trump. He’s absolutely telling the truth — notice he didn’t specify whether it’s a forward or reverse scale. Big brain genius, if you asl me.
It’s like an inverse neutron bomb. Most of the people survive but the infrastructure is obliterated
When we do we start talking about chained derivatives, opacity, and a complete absence of accountability on the part of our financial institutions and shadow banking system?
@mfn – accountability? That might hurt profits! You should consider writing for the Onion!
H-Man, The CAT5 is landing on all shores and unlike other storms, landfall is not slowing down the storm.