Trump Coronavirus Response is Freaking Markets Out
The Trump coronavirus response has been terrifying the markets. Invoking his epic rant during the Great Global Financial Crisis, Jim Cramer blasted the Trump govt’s, at best, sloppy handling of the coronavirus crisis.
By midday Thursday, credit markets were becoming very stressed, and the Fed just went rabid QE (Quantitative Easing) in order to prevent credit markets from completely seizing up and causing another great credit crisis. So, it does appear, that at least one sector of the government, the one that Trump actually has the most disdain for only second to our intelligence agencies, were on the same page as Cramer.
Maybe Trump voters and your average wealthy stock market participants (e.g. right wing media consumers) are wondering why the Trump coronavirus response has been so little, so late, but the rest of us know. Trump lies. Trump is corrupt. Trump does not have empathy. Trump is only worried about his reelection chances and staying out of prison and not losing his self-dealing #winning spree he has enjoyed since winning the election in 2016.
The Trump coronavirus response is exactly what those of us who have been watching this idiot with open eyes for the past several years have come to expect: We would be laughing our asses off if not for crying so hard.
CNBC on Cramer’s Epic Rant v2020:
CNBC’s Jim Cramer blasted the U.S. government’s response to the coronavirus on Thursday, arguing “this is the time for radical action.”
“They know nothing. They know nothing. We know more than they do, and that’s not acceptable either,” Cramer said, hearkening back to his famous 2007 rant about the Federal Reserve before the financial crisis.
“I want the federal government to know more than me. I knew more than they did in 2007, and I know more than they do now and it is disappointing,” he said on “Squawk on the Street.”
Later Thursday, President Donald Trump said that markets will be “just fine.” …
Cramer said he is worried that multiple companies in the S&P 500 could go bankrupt within four weeks due to the economic slowdown caused by the coronavirus […]