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Trump in a statement last night said:
The reality is different though:
Vaccine for the Virus?
Incompetence is the worst thing that can happen when a pandemic occurs:
and...
The market is painting a dire picture. The DOW has dropped 2571 points (9.7%) in the last 10 days and this is not just about the Corona Virus but about the fact that the market was already at levels that were undefendable by fundamentals with world growth lagging behind at levels that are dropping rather than rising and interest rates being minimal or zero in many cases, there is little that can be done to stimulate new growth and now that this pandemic is cutting that growth in a big way, the market is realizing that things are not as rosy as Trump has made them to be. This is a wake up call that is the worst thing that Trump wants to see as his entire administration has been one huge "con" that is now being found out through the one thing he has depended on, the stock market.
Important and pivotal support levels were broken yesterday and there is nothing that can at this time stop the fall of the market given that the Corona Virus continues to grow with over 2700 deaths reported worldwide and with deaths occurring outside of China with 7 in Italy and 12 in Iran reported yesterday.
Trump says U.S. in 'very good shape' on Corona Virus. Health officials aren't so confident.
The reality is different though:
Jarring contradictions in the Trump administration's response to the coronavirus are casting doubt on its capacity to tackle an outbreak that officials say is now certain to reach US soil.
While President Donald Trump is reassuring the nation that the virus is "going to go away" and is "very well under control," experts in his government are painting a far more dire picture. A top US Centers for Disease Control and Prevention vaccination expert warned Tuesday that the virus could bring severe disruption to American life and told people to get ready now.
Vaccine for the Virus?
US biotech firm Moderna has shipped an experimental coronavirus vaccine to US government researchers just six weeks after it started working on the immunization but even when proceeding at an "emergency speed," a vaccine would not be available for use for at least a year or 18 months, he said Tuesday.
Incompetence is the worst thing that can happen when a pandemic occurs:
The President said the coronavirus situation was "very well under control in our country." And he added "that whole situation will start working out." Trump also hit at Democratic Senate Minority Leader Chuck Schumer, who blasted the White House's emergency $1.25 billion funding request as "too little, too late."
On Air Force One, Trump tweeted that "if I asked for more he would say it is too much. He didn't like my early travel closings. I was right. He is incompetent!"
and...
Trump's acting Homeland Security chief was excoriated by a GOP senator as he stumbled over basic questions on coronavirus preparation
The market is painting a dire picture. The DOW has dropped 2571 points (9.7%) in the last 10 days and this is not just about the Corona Virus but about the fact that the market was already at levels that were undefendable by fundamentals with world growth lagging behind at levels that are dropping rather than rising and interest rates being minimal or zero in many cases, there is little that can be done to stimulate new growth and now that this pandemic is cutting that growth in a big way, the market is realizing that things are not as rosy as Trump has made them to be. This is a wake up call that is the worst thing that Trump wants to see as his entire administration has been one huge "con" that is now being found out through the one thing he has depended on, the stock market.
Important and pivotal support levels were broken yesterday and there is nothing that can at this time stop the fall of the market given that the Corona Virus continues to grow with over 2700 deaths reported worldwide and with deaths occurring outside of China with 7 in Italy and 12 in Iran reported yesterday.
Opinion: If the coronavirus isn’t contained, a severe global recession is almost certain
The world woke up Monday to the reality that the coronavirus epidemic is going to have a much bigger impact on the global economy than investors and policy makers had assumed. Just how big, no one really knows.
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