Trump’s Coronavirus Speech Fails to Unify or Reassure a Nation on Edge

@Firesauce

@Firesauce

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@Firesauce Firesauce · #Breaking · 20 days ago
Firesauce · 20 days ago

All the stock market gains from Trumps presidency are nearly wiped out at this point. Even though he can claim it’s not all his fault, he’s losing a huge argument for his re-election. He can no longer claim how much money everyone has made in their 401(k)s.

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SilentEyes · 20 days ago

One small problem with that calculation is that this is reversible, and will last only for as long as we have the coronavirus pandemic. This shall pause. Nothing substantial has changed in the strength of the economy, this is just a temporary loss, which is pretty common (short-term).

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Firesauce · 20 days ago

I agree stocks will eventually bounce back, but I think this will be more than a blip in the short term. The longer this pandemic lasts, the longer it takes to recover. It doesn’t seem to be anywhere near being contained. Add in the oil war and maybe the US dips into recession for a few months. Quarterly reports for the next quarter are going to take a dive. Stocks could potentially not recover until after the election.

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SilentEyes · 20 days ago

You sound happy about this turn of events, only because it may hurt Trump. I hope that is not the case, because having a strong economy is in everyone’s interest. Anyway, there are a lot of “ifs” here, as you admit. We do not know how this will develop, I have been reading that it is expected to be over by the beginning of June.

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stablegenius305 · 20 days ago

Yeah right…dream on .

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Firesauce · 20 days ago

Dreaming not necessary. Just do the math. S&P 500 peak was ~3400. When Trump was sworn in it was high ~2200s. Now it’s low 2500s. 2200s to 2500s is only a 13% total increase over 3 years, dropped from a 55% increase. And the market is still going down.

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