One of the things that Donald Trump always touts is the stable economy under his leadership. However, we are in the midst of a volatile stock plunge, thanks to fears about the coronavirus.
Trump took to his favorite platform, Twitter, to assuage those fears. He tweeted:
“The Coronavirus is very much under control in the USA. We are in contact with everyone and all relevant countries. CDC & World Health have been working hard and very smart. Stock Market starting to look very good to me!”
As per usual, however, Trump is either misinformed or lying.
The Dow dropped 1,031 points before closing on Monday, and coronavirus fears are to blame. According to the Chicago Tribune, there was a global effort to sell stocks as virus cases have spread outside of Asia.
Trump issued his tweet after closing bell sounded on Wall Street.
The Coronavirus is very much under control in the USA. We are in contact with everyone and all relevant countries. CDC & World Health have been working hard and very smart. Stock Market starting to look very good to me!
— Donald J. Trump (@realDonaldTrump) February 24, 2020
To have Trump be so uninformed is not unusual on any subject, but when it comes to something that could quickly become an epidemic or even a pandemic, the president of the United States displaying such ignorance on the subject is downright dangerous.
This Dow Jones Industrial Average fall is the worst seen over the last two years. Further, it renders increases seen thus far in 2020 completely moot. So, there are definite economic impacts here.
Trump, as he typically does, is trying to pretend that there is no possible way anything at all could ever go wrong on his watch. But as coronavirus diagnoses are reported in the United States, fears rightfully are heightened.
The Trump Administration did start a task force to try and contain the virus last month; however, like with everything else in this administration, there is no real reason to believe that it can be very effective due to the rank incompetence that reigns.
If Trump is depending on the economy to help him get re-elected, he’d best try and hire some good people to get this thing under control, or, at the very least, listen to the people at the Centers for Disease Control (CDC) and other career health officials, lest this problem, and the economy, get worse.
There have thus far been more than 79,000 reported Coronovirus diagnoses. Most of the diagnoses and deaths remain in China.