As stocks dive and coronavirus spreads, Trump continues to downplay risk

[groundloop]

Source: ABC News

As global markets continue to tank, with Wall Street trading halted after the Dow Jones Industrial Average dove more than 2000 points, and as at least 34 U.S. states and the District of Columbia reporting infections of the novel coronavirus President Donald Trump on Monday doubled down on downplaying the crisis, blaming the news media and the Democratic Party for hyping the outbreak and repeating the risk is still low to "the average American."

"The Fake News Media and their partner, the Democrat Party, is doing everything within its semi-considerable power (it used to be greater!) to inflame the CoronaVirus situation, far beyond what the facts would warrant. Surgeon General, 'The risk is low to the average American,'" Trump tweeted Monday morning before the markets opened.

Link to tweet

Later, about an hour after the markets plunged, Trump continued to engage in a confused narrative about the crisis, downplaying the situation and often putting him at odds with the messaging his own health experts are trying to get across.

Less than ten minutes before Trump tweeted that "the economy will go on," and characterized the coronavirus as less dangerous than the common flu, Health and Human Secretary Alex Azar told Fox News: “Make no mistake, this is a very serious health problem. Nobody is trying to minimize that. It is a very serious public health threat to the people of the United States."



Read more: https://abcnews.go.com/Politics/stocks-dive-coronavirus-spreads-trump-repeats-risk-covid/story?id=69482971&cid=clicksource_4380645_2_heads_hero_live_hero_hed

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You need to read the entire article to get a true understanding of how disjointed this administration's response to Covid-19 is. All the while he's more interested in finding someone to blame rather than doing anything useful.

[moreland01]

1. It's interesting

that trump thinks the Dems have that much power. His spinning makes him look powerless and neutered.

[Newest Reality]

2. If anyone wants to see what...

If anyone wants to see what is coming for us, simply take a look at Italy and Iran, for two examples. It is plain as day and does not require a talking head opinion at all. The virus really doesn't care about rhetoric, it seems

This is nothing to downplay and it is obvious from just those two countries, (China is difficult to read due to their government and propaganda) that this is a major pandemic and I would say, you will see explosive growth in about a couple of weeks.

All the time being wasted with gibberish rather than being proactive is ONLY going to make the results worse.

[MarcA]

3. Appears Covid-19 was a catalyst to bring down an already weak market.

At least according to several market gurus on-line and in the media.

[bucolic_frolic]

4. Until the growth rate falls dramatically, public concerns will mount

Low risk is not no risk, especially to those who have it or have a family member with it.

If so low risk, why are some events/schools/locales shutting down?

Investors know these shutdowns can ripple through businesses, supply chains, consumption, just-in-time manufacturing, even the food chain. (Supermarkets were stuffed with delivery pickers this weekend - people staying home). Even if things go well, it will be 4-6 months before the effects bottom out. Things are not going well by the way.

Trump is running a race with reality, thinking he can head it off. Good luck with that. Many a crisis has been fumbled by politicians, particularly those who are singularly responsible for outcomes (Katrina, Chicago Blizzard of 1979 that deposed the mayor), and those outcomes proved politically fatal.

[Dem forever]

5. Orange clown's fault ..don't blame the CDC. Because they are way under staffed

I just can’t stand this orange clown . This weekend he was off playing in his sand box. Everyone else where holding meeting coming up with a plan for handling this crisis. With the CDC working only at 40% . Why you ask ? Because ass hat cut their positions and haven’t replaced people who retired. Some of the employees that left said they would stay on with no pay. Just let us keep are credentials if you need us in the future. Nope don’t need you is what the administration said. This happened in 2019. Such a complete cluster fu+k in the White House. You can thank the orange clown for our mess in the United States.

[DENVERPOPS]

11. The CDC warned of this

Almost three months? ago the CDC warned of this using their computer models of the virus.

The Republican's allegiance and loyalty to the Holy Rollers claims that: "Science is Shit".... blew it off........

They can blow off the Dems, but mother nature doesn't do politics........

We have passed the point of no return in being able to control the inevitable at this time due to their not doing a thing, and in FACT their trying to do everything to claim it was a simple cold at best......

[area51]

6. Fake president

FU, Dementia Donnie.

[Bengus81]

7. DOW is dropping back down again,almost down 1900

Atta boy Trump,keep it up!!!!

[bucolic_frolic]

8. Financially and the stock market I'm most worried about

the ripple effect. Any company with suspect balance sheet is compromised in a big way, and even solid companies have been concentrating earnings by buying back stock.

So... bankruptcies. In the aggregate, corporate earnings are reduced, in addition because QE1-2-3-4 gave such cheap cash that every looney idea in the world became a business. Contraction will sort that out.

[yaesu]

9. The plunge protection team is now throwing rolls of paper towels at traders nt

[Nitram]

10. It's almost funny. Trump thinks if he reacts with bravado, false confidence, and lies his ass off

the problem will go away. In this case, his obvious lack of understanding about the consequences of a viral epidemic are scaring Wall Street to the point of hysteria. Every time he lies, bluffs, or dismisses the danger he provides more evidence that he is not going to do anything to avert a crisis.