The coronavirus has been the elephant in the room the past several weeks. Everybody is terrified to go near it, they’re trying to shut their eyes and tell themselves it’s not there — and meanwhile, it just won’t go away. It keeps getting worse, in fact. Donald Trump and his number one sycophant, Rush Limbaugh, have knocked themselves out saying that everything is just fine with respect to the coronavirus. Nobody believes them — which isn’t surprising, neither one of them is exactly a high credibility figure, and this, unfortunately, is a matter of life and death. Right-wing fantasy dogma just isn’t going to cut it, as the market drops further for yet the second day. New York Times:
A day after its worst one-day slide in two years, the S&P 500 closed down 3 percent on Tuesday, a decline that put the index deeper in the red for 2020. […]
Since the outbreak first emerged in January, the primary concern among economists and investors has been how a temporary paralysis of the Chinese economy — the world’s second largest — would affect global supply chains. For weeks, American investors paid little mind: As recently as last Wednesday, the S&P 500 was at a record high. […]
The sell-off accelerated after the Centers for Disease Control and Prevention warned Americans that they should brace for the likelihood that the coronavirus will spread to communities in the United States.
“It’s not so much of a question of if this will happen in this country anymore, but a question of when this will happen,” said Dr. Nancy Messonnier, director of the National Center for Immunization and Respiratory Diseases. “We are asking the American public to prepare for the expectation that this might be bad.”
“It looks like the coronavirus is being weaponized as yet another element to bring down Donald Trump.“ He added: “Now, I want to tell you the truth about the coronavirus…The coronavirus is the common cold, folks. The Drive-By Media hype of this thing as a pandemic, as the Andromeda strain, as, ‘Oh, my God, if you get it, you’re dead’…I think the survival rate is 98%. Ninety-eight percent of people get the coronavirus survive. It’s a respiratory system virus. It probably is a ChiCom laboratory experiment that is in the process of being weaponized…. I believe the way it’s being weaponized is by virtue of the media, and I think that it is an effort to bring down Trump, and one of the ways it’s being used to do this is to scare the investors, to scare people in business. It’s to scare people into not buying Treasury bills at auctions. It’s to scare people into leaving, cashing out of the stock market—and sure enough, as the show began today, the stock market—the Dow Jones Industrial Average—was down about 900 points, supposedly because of the latest news about the spread of the coronavirus.”
The Trump administration is like a juvenile delinquent that has gotten away with everything so far, and in this case, it’s being asked to grow up and take responsibility. The coronavirus is a big deal. This is much bigger than impeachment. So far, if what we’ve seen is any indication, Dubya’s handling of Katrina is going to be hailed as an exercise in genius combined with humanitarianism, compared to how Trump is indicating he’s set to deal with the coronavirus. Don’t hold your breath, while you wait for Trump to wake up and smell the coffee. He already cut funding to the CDC by nine percent and he’s depending on his usual format of lies and sound bites to get him through this one. Ain’t gonna happen this time.