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Liars Poker Adds To Uncertainty In Coronavirus Approach

Donald J. Trump cannot be trusted to deal with, or calm fears as the Coronavirus (COVID-19) moves steadily towards a Pandemic event.

In 1,095 days, Donald J. Trump has made 16,241 false or misleading claims according to the Fact Checker’s database.

Trump puts his 2020 election bid on his most often misleading claims that: “The economy is the best it’s ever been in — we have never had an economy like this in history.” Researchers at Fact Check remind us that the economy today is not doing as well as it did under Presidents Dwight D. Eisenhower, Lyndon B. Johnson, or Bill Clinton — or Ulysses S. Grant.

And, “If the coronavirus epidemic materially affects U.S. economic growth, it may increase the likelihood of Democratic victory in the 2020 election,” Goldman Sachs analysts led by Ben Snider wrote in a report published Wednesday night.

As of 9:04 AM Friday, the Dow Jones Industrial Averages (The Dow) was down 11.82% for the week.

  • On Friday, the slide in Asia and Europe followed a 4.4 percent nose-dive in the S&P 500 index on Thursday, the worst day for American shares since 2011.
  • In Europe, the FTSE 100 in Britain fell more than 3 percent, and the DAX in Germany fell more than 4 percent.
  • In Asia, the Nikkei 225 in Japan closed down 3.7 percent, the KOSPI in South Korea dropped 3.3 percent, and the Shanghai Composite in China dropped 3.7 percent.
  • Oil prices continued a drop, reflecting decreased demand as factories and transportation slow down.
  • Investors have also poured into investments like gold and government bonds, which are generally considered safer.
DJA 9:04 AM Friday

Economists are warning that the coronavirus could spark an imminent economic slowdown or even recession. Moody’s Analytics chief economist Mark Zandi said he now sees a 40% chance of a U.S. recession during the first half of 2020, up from 20% previously.

Even former Federal Reserve chief Janet Yellen has acknowledged the outlook for the U.S. economy is darkening. “It’s just conceivable that it could throw the United States into a recession,” Yellen said at an event in Michigan Wednesday, according to Bloomberg News.

The Trump administration Saturday announced additional travel restrictions affecting Iran, Italy and South Korea in response to the coronavirus outbreak following the first death from the virus in the United States.

Vice President Pence said the existing travel ban on Iran would extend to foreign nationals who had been in that country the past 14 days. The State Department also is increasing its warning advising Americans not to travel to parts of Italy and South Korea affected by the virus.

Right before the White House’s news conference, health officials in Washington state confirmed that a person diagnosed with coronavirus in King County has died.

On Tuesday, Trump said at the start of a CEO round-table in New Delhi: “I think that’s a problem that’s going to go away.”

“We have contained this, I won’t say airtight but pretty close to airtight,” Kudlow told CNBC’s Kelly Evans on Tuesday afternoon.

Last Month Tom Frieden,[i] the former director of the U.S. Centers for Disease Control and Prevention and former commissioner of the New York City Health Department, warned that “We are living the consequences of being under-prepared for the next big global epidemic. The question isn’t if another pandemic will emerge, but when.[i]

On Tuesday, Trump said at the start of a CEO round-table in New Delhi: “I think that’s a problem that’s going to go away.”

That same day White House National Economic Council Director Larry Kudlow said that the U.S. has “contained” the threat of a domestic coronavirus outbreak, breaking with the warnings of officials from the Centers for Disease Control and Prevention.

The Centers for Disease Control and Prevention estimates that there were 34,200 deaths in the United States from influenza during the 2018-2019 flu season. As of Tuesday, more than 50 people in the United States have tested positive for the coronavirus.

On Wednesday, the Nevada County Public Health Department reminded the public that: “While COVID-19 should be recognized as a serious public health concern, we want to remind everyone that as of February 25, 2020, there has been no known community transmission of the virus in the U.S.”

They pointed out that those infected with the virus in the U.S. were either exposed in China or have been very close contacts of those who are ill.

Nonetheless, health officials and those involved in global economics fear that the coronavirus disease could spread far beyond its originate in Wuhan, China.

As predicted, a Northern California woman tested positive for COVID-19. She remains in serious condition and has been intubated.

Rep. John Garamendi (D-Calif.), who represents the woman’s district, told CNN the patient is potentially unable to talk, hampering efforts to determine where she might have encountered the coronavirus that causes COVID-19.

Health officials believe she could be the first case of community spread[ii] of the virus in the United States.

Trump’s history of lies, unqualified or unfilled appointments has left the nation ill-prepared to deal with any national emergency while making a pandemic outbreak of a deadly infectious disease a near certainty.

Endnote:


[i] Frieden, Tom, “The next Pandemic is coming. We’re not prepared for it.” Washington Post, January 30, 2020, at https://www.washingtonpost.com/opinions/2020/01/30/next-pandemic-is-coming-were-not-prepared-it/

[ii] According to the CDC, a “Community Spread” refers to the “spread of an illness for which the source of infection is unknown.”

About Author

Michael McGreer Mesquite, Nevada
Dr. Michael Manford McGreer is managing editor of Nevada-today.com and writes on issues that impact public policy.

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