By David Glenn Cox
First goes the love, then goes the money. The stock crisis moves to the banking industry. Of course, it was only a matter of time wasn’t it? Eighty six percent of Americans own no stock, yet their lives will be affected. No restitution, no givebacks or tax breaks. Lost jobs marriages and credit ratings. Another lost decade taking it on the chin in somebody else’s fight. From the loudest most verbose self-promoting alternate reality administration ever to hold power in the United States says, “Duh What?”
It always shows the market confidence when you don’t show up for your own press conference. You leave cabinet officers standing around introducing each other with nothing much to offer in the way of details. Speaking against the boss will get you fired and since no one knows from minute to minute what the boss might think, no one gives an opinion without the boss in the room.
It’s not that the big orange ape doesn’t know what to do. No, I’m sorry, I lied, it’s cause the big orange ape doesn’t know what to do. Gee that economic adviser looked so good on TV but it’s not his fault. This is real economic advisor work not TV economics advisor work. The difference between being a tractor salesman or being a farmer. This is the point where the orange ape reaches out for expert opinions and if Shawn Hannity wasn’t available, he could ask Judge Jeanie.
It’s a trifecta, corona virus, stock virus and societal virus.
So, Missing in Chief tweets: America is the Greatest Country in the world. We have the best scientists, doctors, nurses and health care professionals. They are amazing people who do phenomenal things every day….
And the markets listened to his learned words and responded as if he’d said nothing at all. Come on everyone, turn that frown upside down! Eric Von Zipper meets Frankie Avalon and Annette Funicello in Beach Blanket Bonzo. Happy talk isn’t going to work.
…. Together we are putting into policy a plan to prevent, detect, treat and create a vaccine against Coronavirus to save lives in America and the world. America will get it done!
This is March the 12th, he’s lost in the maelstrom stuck in last week. Together? No, you are supposed to be in charge here. You’re supposed to make policy. We try not to get sick. The experts say that vaccine is a year and a half away. That won’t help short term. There is a level of detachment that is impossible to hide. A point where you no longer ask questions because the answers are academic and equally detached from reality.
There is a strange duality, when things go good Donald Trump is the President. But when disaster strikes. They pay no attention to him.
The orange ape hosted a news conference stocked with the banking industry elite. Each praised the Trump in their turn and then exuded confidence in the future as they sat at a table in the White House for an emergency sky is falling meeting with the President. The President his arms crossed would ask each in their turn, “Scott, Scott, what do you think of the economy?” The – economy – is – very – strong – Mr. President. You’ve – done – a – great – job!
The market was looking for reassurance that help was on the way in the form of some sort of stimulus package instead they got Nero’s forum assembling the dissembling, getting nation’s banking executives to repeat Trump’s talking points of Hear no Evil, See no Evil and speak like an idiot.
The orange one’s address to the nation set the market into a tailspin. They listened this time. They wanted some love and received a campaign lecture. Trump blamed Europe for the virus unaware of just how a pandemic works and shut off all traffic from Europe except Great Britain. Britain should be safe it’s twenty miles from Europe and connected by a tunnel. It’ll be fine. But the Orange one was forced to read from a text he will ignore tomorrow. Dripping in patriotism and nationalism, Hey, come on we’ve run the economy into a ditch again and now do your patriotic duty and help us get it out.
But the markets and the world were looking an economic message of stability and got Trumpian gobbledygook. Within minutes Asian markets began to tank and the US futures market was down the limit in ten minutes. The world was listening for something that Trump didn’t say. Hard times for the boy who cried wolf. He won’t tell the truth and you can’t make him. Billions for the banks and nothing for the people as Trump warns, “Cures might be expected to be expensive.”
But he will not face the facts. There’s a worldwide crisis. Trump is building the case that he’s not responsible for the crisis and through his inaction makes certain that he will be. FDR wasn’t responsible for Pearl Harbor. Herbert Hoover didn’t cause the Great Depression. Through FDR’s actions he’s remembered as a great leader and through Hoover’s inaction they named a depression after him.