(03-24-2020, 12:24 PM)burger Wrote:(03-24-2020, 12:21 PM)terry Wrote:That's even worse than I imagined. I charitably assumed that he was giving us about 3 weeks before he wanted to start the unloosening.(03-24-2020, 11:03 AM)chrisk Wrote: Now Trump is saying he would like to have it "open" by Easter (April 12)
Some explanation of what the President means by this --
A White House official said the president does not view Easter as a date that he can begin to open things up, but a date by which the economy is speeding again. That means the loosening of restrictions would, under this scenario, start much sooner.
https://www.nbcnews.com/politics/white-h...r-n1167721
He would kill millions for a few points of stock market gain. It's criminal.
I don't think he gives a rip about stock market gain one way or the other. I think he understands that this country faces economic ruin in an unprecedented fashion, more so than the Great Depression.
One tiny example. Last year, my company had an epic year, at least for our business. The first two months of this year, same. Three weeks later -- yesterday -- I was told to prepare to lay off 10% of my team. Today, I was told it will be 20% to 25%. These people make an average of about $9k per month. There is no government program, not even at its apex that will provide anywhere close to that, particularly for an extended period.
Trump's conclusion is that the country cannot sit on the sidelines for 3-5 months while a number of sectors are rendered null and void. Think the airlines will recover, or most forms of transportation? The stock market is the least part of his calculus.
We peaked at 158 million employed this year. How about if 50 million get laid off? What if 40 million of them have guns? What if a mere 4 million decide to use them? That's what Trump is trying to avoid, not a few Dow point drop.
Audaces fortuna iuvat
