if even Donald Trump Jr. is awake for this, you know it’s something to worry about. The plus 1,000 plunge that the stock market took Monday is not something to be taken lightly, at least not by Republicans who are counting on Trump’s riding Obama’s economic coat tails to take them to reelection in November. Politico:
“The view in the White House is that this is one of those classic black swan events, and all we can do is control the health issues in the U.S.,” said Stephen Moore, an informal economic adviser to the Trump team. […]
With the possibility of a U.S. outbreak growing by the day, Trump allies and advisers have grown increasingly worried that a botched coronavirus response will hit the U.S. economy. Even Donald Trump Jr. has mused to associates he hopes the White House does not screw up the response and put the president’s best reelection message at risk, said two individuals with knowledge of his comments.
“Trump’s reelection effort is so closely tied to the strength of the stock market and the economy,” said Moore, a distinguished visiting fellow at the Heritage Foundation and 2016 Trump campaign adviser. “Anything that shakes us off of that pro-growth track is a concern, but I think the view of officials in the White House is that this will be contained.”
It may be their “view” but it is not a view based upon anything solid. Trump has cut funding to CCD and he’s done nothing but lie about the coronavirus the past few days in India saying it’s “under control” and “we’re close to a vaccine.” A vaccine is at least 18 months away, if that, in the estimate of anybody who actually knows what’s going on or follows these things, which emphatically is not Trump. The last time he spoke out on the coronavirus, a few weeks ago, was to share disinformation that warm weather would kill the virus. All he’s doing is stalling and hoping for the best and that scarcely constitutes a plan.