The Stock Market’s Still Falling While the Coronavirus Clownshow Goes On at the White House

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Trillions of dollars were wiped off stocks last week in the most severe market plunge since 2008. And today that trend continues as U.S. stock futures and markets in Europe fell. CNN reports that,“Dow futures are off 180 points, or 0.7% lower, after falling as many as 500 points and gaining as many as 600 points throughout a roller coaster night. S&P 500 futures have slid 1%, while Nasdaq futures have skid 0.4%.” And this is despite assurances from the world’s central banks that they will help limit economic damage caused by the coronavirus pandemic.

Meanwhile, in Washington, D.C. Donald Trump deals with the first catastrophe not of his own making since he took office, and he is not only woefully out of his depth, his usual coping methods are blowing up in his face routinely. CNN:

On Sunday night, the President crowed about a poll that he said showed 77% of adults were confident the government could handle the situation.
“Gallup Poll numbers on the handling of this situation are outstanding, the best. Thank you!”
The poll that he was referring to, however, appeared to be one conducted between February 3-16 — well before the deaths on US soil, the spike of new cases and the stock market routs last week that exemplified growing panic about the coronavirus.
And this.
“I was criticized by the Democrats when I closed the Country down to China many weeks ahead of what almost everyone recommended. Saved many lives. Dems were working the Impeachment Hoax,” the President wrote. “They didn’t have a clue! Now they are fear mongering,” the President tweeted.
So now it’s the Chinese he kept out of the country and not the Mexicans. Our mistake, we thought he closed the southern border, for some incomprehensible reason. And of course we have The Mike Pence Show, which aired on all five political programs Sunday.  Judd Legum, at Popular Information, gives historical context to that particular aspect of this mess:

On May 8, 2018, Trump fired Rear Adm. Tim Ziemer, who was serving on the National Security Council as the Director of Global Health Security. In that position, Ziemer was responsible for coordinating responses to global health emergencies and potential pandemics. Ziemer was praised as “one of the most quietly effective leaders in public health” — his work on malaria during the Obama administration was credited for saving millions of lives.

Instead of replacing Ziemer, Trump eliminated the position. Dr. Luciana Borio, the National Security Council director for medical and biodefense preparedness, left the same month and was not replaced.

So when the coronavirus began spreading globally, there was no one in the White House to coordinate the response. As the outbreak grew more severe, Trump reportedly ruled out appointing someone new to help manage the crisis, “worrying that bringing in a person from outside the administration might be seen as a failure — and wondering whether such a person would be loyal to him.”

Instead, Trump put Vice President Mike Pence in charge.

Before Pence’s appointment, Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, was scheduled to appear on all five Sunday political talk shows. But Fauci was ordered to cancel, and Pence made the rounds in his place.

Of course he did. Because Fauci isn’t a PR lackey, dedicated to the preservation of Donald Trump. Pence is.

“We’re seeing the beginning of community spread, which you know, is concerning,” Anthony Fauci, the head of the National Institute of Allergy and Infectious Diseases, said Monday on CNN’s “New Day.”
“My concern is as the next week or two or three go by, we’re going to see a lot more community-related cases. That’s of great concern.”
This is a rational commentary, and Fauci is right to be greatly concerned. We are all right to be greatly concerned. Contrast that with what Mike Pence did on the Sunday shows, which was to mitigate how bad Trump was looking, and to present Trump as a victim under attack from the evil media and the Democrats, working in concert and manipulating covid-19 as just another ploy to take Trump down. That is why Pence was put in charge. Fauci, or any competent health expert, is going to address the facts of the coronavirus and keep the public informed. That is a health expert’s job and it is the last thing this administration wants. They want to keep an air tight lid on the crisis. Nothing can be released on this topic without going through Mike Pence’s office first, and that is by design. Pence is the new Minister of Propaganda, at least insofar as the coronavirus is concerned.
But fear not, Trump has this handled, as he tweeted at 4:30 a.m. Monday.
“I am meeting with the major pharmaceutical companies today at the White House about progress on a vaccine and cure,” Trump tweeted. “Progress being made!”
If he says anything other than that it will take a year to eighteen months to get a vaccine, you’ll know he’s lying. But this is the state of play right now: Trump is going to continue his usual pattern of gaslighting the American people and Mike Pence is playing short stop to all the information on this topic. The only problem with this, is that countries on every continent besides Antarctica are dealing with this same issue and they’re not gaslighting us — although there are indications that China has not been entirely forthcoming and that’s to be expected. China’s situation is probably worse than depicted, nevertheless we are communicating with them on the issue.
Additionally, there are community spread cases now appearing in the United States and who knows where new ones are going to break out next? Mike Pence can control the flow of information to a certain extent, but he’s not going to be able to do an end run around all of state and local government, nationwide. He’s nowhere near that competent.
Ultimately, Trump and Pence are not going to succeed in this endeavor. They need to get honest and do it fast. As unlikely as that is, necessity can be a real mother, and they may have to rethink their ways if they’re to have any chance of surviving this at all, politically. So far all they’ve done is set themselves — and us of course — up for a fall. Information is not the enemy of the people, but Donald Trump is.

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1 Comment on "The Stock Market’s Still Falling While the Coronavirus Clownshow Goes On at the White House"

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DHG
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What the heck is it going to take to tank this fake market, death all over the place…… Up 850 as of right now, it should be tanking that amount.