‘This Is War’: Analysts Pile On As Virus Lockdowns Presage ‘Domino-Style Economic Collapse’
"There’s no need for anybody in the country to hoard essential food supplies", Donald Trump told the media on Sunday. "You don’t have to buy the quantities because it’s hard to refill the stores".
Trump had just spoken to Walmart, Whole Foods and Target, among others.
The fact that Trump has to tell Americans to stop hoarding food speaks to just how rapidly the coronavirus situation has escalated in the US. A mere two weeks ago, it was "just the flu". Now, Americans are buying enough can
See this Axios link regarding impact related to flaws and delays in testing:
https://www.axios.com/coronavirus-outbreak-testing-delays-60a25ce6-f08d-438f-b294-358e0c300d95.html?utm_source=newsletter&utm_medium=email&utm_campaign=newsletter_axiosam&stream=top
If this analysis is correct, there are thousands more active cases than previously thought.
NY Fed confirms the downturn, that was fast.
“Business activity declined in New York State, according to firms responding to the March 2020 Empire State Manufacturing Survey. The headline general business conditions index fell thirty-four points to -21.5, its lowest level since 2009. The new orders index dropped to -9.3, pointing to a decline in orders, and the shipments index fell to -1.7. Delivery times lengthened slightly, and inventories increased. Employment levelled off, and the average workweek declined. Input price increases were little changed, while selling prices increased at a slower pace than last month. Optimism about the six-month outlook fell sharply, with firms less optimistic than they have been since 2009”
As a small gesture wouldn’t you think Tariff Man would consider reducing all the tariffs he put on incoming goods which we know are a tax on US consumers?
No, that would require acknowledging the reality that China is not paying the tariffs. The facade cannot come down yet, there is still a re-election campaign.
” Now, Americans are buying enough canned goods to last the next decade (and, based on my own anecdotal observations, enough paper towels to last several decades after that).”
No shortage of booze anymore! Shutting all the bars and restaurants in my area sent a surge of unwanted spirits into the depleted and pillaged liquor stores.
Whew that was a close one! Crisis over.