Yesterday’s update on the novel coronavirus outbreak from the Administration’s team started with the President praising the beauty of the day and then announcing that the Fed had announced a reduction of the baseline interest rate to 0-0.25%, and that made him very happy. He was in a chipper mood. Not editorializing here. You can watch the tape. This was an emergency drop that indicated a very severe turn of events in the economy. The last time it was done was in 2008 during that economic meltdown. This projects to be considerably worse.
And he was “happy”.
Oh, and no more than ten people in a room and this is no problem. It will be gone by July or August. They have it under control. In fact, great news! The President has rated his response to Covid-19 as a perfect 10! This is the best it could possibly have been.
And that’s it in a nutshell, isn’t it, really?
If you aren’t sitting at the table, you’re probably the meal.
Ten people in a room? How do we do that at WalMart, the DMV, at work? We can’t. Oh, it doesn’t apply to schools or businesses? Then It Doesn’t Apply At All! Anyone can have it. Anyone. Even you, or me. We may not know it, but we could give it to someone who might not be as lucky, with no malice, just poor leadership. Poor direction, mostly recognized as such but fatefully believed by some who are now subject to not one virus, but two. Virology and ignorance. Choreographed ignorance.
Repeated kudos to Dr. Anthony Fauci. He took the podium after the President and tried to overcome the foolishness spewed by the executive, tried to make us all understand that this is going to be far bigger than any of us are imagining, bigger than anything we have lived through before. He’s trying with every breath he takes. But the bullly pulpit isn’t his. More the pity. The president’s posse thinks he’s a foolish alarmist and we won’t have to wait very long to see who was right. A week, maybe two. Report card will be mailed.
The virus enters the campaign in full force today as Ohio closes its polls altogether and an unknown number of voters in Florida, Arizona and Illinois will evaluate the risks of being in an enclosed room with dozens of other people. That number will be a fascinating sub-story to tonights contests. Will the Democratic enthusiasm overcome the fear of infection, or will the disease be the thing that pours water on the Party? When this inevitably stretches into the general election and likely through the fall, how will we find a way to make the voting fair and equitable?
I have a day off today, and I’m paralyzed. Things to do, but should I do them?. They involve going out in the public and my job puts me on those front lines every day. Shouldn’t I take this opportunity to isolate when I can? Or should I get these errands done before everything is closed and I can’t do them even if I want to? Very soon these decisions are going to be made for me.
How is this affecting you so far? What changes have you already made in advance of the changes that are going to be imposed? Are you excited about the Fed cut? Was that the news lead yesterday, or was that press conference the bridge too far for you?
The market voted on our leadership yesterday by crashing 3000 points. In the face of an interest cut that benefited Wall Street in an enormous way, even they saw the President as the national embarrassment that he has become, and immediately after the presser they voted with their dollars, an economic impeachment.
Were they wrong?
Let me know in the comments.