'Businesses are booming': Steve Mnuchin brags to Chris Wallace about spending by panicked consumers

[turbinetree]

Published 1 min ago on March 15, 2020
By David Edwards

Treasury Secretary Steve Mnuchin on Sunday insisted that COVID-19 fears have not impacted overall consumer spending.

On Fox News Sunday, host Chris Wallace noted that Americans are concerned about their retirement savings after losses in the stock market.

“According to one estimate, the market has lost almost $8 trillion dollars in value,” Wallace noted. “How much further are the markets going to drop?”

“I can’t predict where the market is this week,” Mnuchin replied. “But what I can tell you is people who bought stock after the crash in ’87, people who bought stocks after the financial crisis did really well.”

https://www.rawstory.com/2020/03/businesses-are-booming-steve-mnuchin-brags-to-chris-wallace-about-spending-by-panicked-consumers/

Hey Pin head Mnuchin, you really are an asshole.............................did you see what they are doing in Italy.....................by some strange chance do see what they are doing in the State of Washington how about schools, sports stadium...................if you don't see this big fucking snowball coming down the hill and getting bigger, exactly why you are in office ..........oh yeah propaganda minister of BS..................sitting across the table with another propaganda minster.....................

You really should be in jail......................Pin Head Mnuchin................................

[beachbumbob]

1. run's on food stores does not equate a "boom"

what a moron

[ProfessorGAC]

8. People Just Spent Future Money

The TP hoarders aren't going to need any for months. So those sales will be low for a while.
There's no long term uptick in demand.
But, Mnuchin won't be able to grasp that.
He's still a believer in the 2 dimensional Laffer curve (when the macroeconomy is clearly multidimensional with interactive factors). Even Laffer admitted it doesn't really work that way.
But his dumbass drawn on a napkin idea, still rules in tiny minds like Stevie boy.

[GreenPartyVoter]

2. I hate these mfers so much!!!

[Ohiogal]

3. OMG

Panic buying is seen as a boom? What a disgusting asshole. They all disgust me! Money is their #1 concern!

[CrispyQ]

4. What about all the restaurants and retail shops that have had hardly any customers this past week?

And now we're told to stay home as much as possible. How much of that 100 bottles of hand sanitizer and disinfectant wipes does one need when one is quarantined?

Here's my question. While governments encourage landlords not to evict people affected by the virus, are they also asking the banksters, who receive multiple bailouts from We the People, to not foreclose on those affected? We all know the answer to that.

There is going to be another huge transfer of wealth with this crisis.

[turbinetree]

5. Like I said before on this site, the mortgage companies and the owners of rental property

that got a bailed out, then, then we the public should get the same thing, 800 billion in relief...................from them.................end of story.........................

[mia]

6. Some are spending their last dimes hoping to stay alive

Mnuchin celebrates this as a boon to the economy. Before long, he'll be bragging about the billions saved thanks to Trump. In reality, the savings will because of the many U.S. citizens who will die before their time. All that extra Social Security money will be diverted to build the wall or some other Trump folly.

[PA Democrat]

7. What next? Funeral directors and coffin manufacturers look forward to

huge uptick in profits?