Wednesday, May 27, 2020

Will the economy trump the number of cases?

" We are about to see the best economic data we've seen in the history of this country," said Jason Furman, a top economist in the Obama administration and now a professor at Harvard, in early April when the economic carnage due to the coronavirus lockdown "seemed likely to doom President Donald Trump's chances at reelection". Although the economy will not return to the level before the pandemic, growth will soar once businesses start opening up and people return to their old jobs, giving Trump a bounce just before the November election. "The federal guidelines are taking a back seat in both Republican and Democratic states, as economic pain from the coronavirus lockdowns and the political pressure to lift them become too excruciating." "This is my big worry," said a former Obama White House official who is still close to the former president. He would prefer people to suffer than to see Trump winning. How mean is that? Protests against lockdowns have spread throughout the US, even in California which Hilary Clinton won with over 4 million more votes than Donald Trump in 2016. "More than 1,300 state and federal lawsuits have been filed over Covid-19 (lockdowns), including 240 dealing with civil rights, as of Friday, according to Hunton Andrews Kurth, a law firm tracking the cases." "Governors say strict rules save lives, but critics who are forced to stay home or shutter their businesses called the steps 'draconian' or compared them to 'house arrest'." "Within hours of President Trump's decision to restrict travel from China on Jan 3, top democrats and media figures immediately derided the move as unnecessary and xenophobic," "Nevertheless, this week, House Speaker Nancy Pelosi, D-Calif, accused Trump of endangering lives by wasting time," reported Fox News. "The United States was ranked the best-prepared country in the world to handle a pandemic in late 2019 by the Nuclear Threat Initiative (NTI) and the Johns Hopkins Center for Health Security (JHCHS) -- an assessment seemingly at odds with claims by Democrats that the Trump administration left the country vulnerable to the ongoing coronavirus outbreak." "Coronavirus lockdowns have failed to alter the course of the pandemic but have instead 'destroyed millions of livelihoods', a JP Morgan study has claimed." "In the new poll, 51% of registered voters nationwide back Biden, while 46% say they prefer Trump, while in the battlegrounds 52% favor Trump and 45% Biden." Presumptive Democratic candidate Joe Biden has a new nickname for Trump, which is "President Tweety". Which probably puns on Trump's habit of tweeting constantly as well as Tweety Bird, hoping to be Sylvester the Cat. He should remember that Tweety Bird always wins. In response, Trump said Biden "doesn't know he is alive". November is still far away, and a week, as Harold Wilson said, is a long time in politics.    

No comments: