General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTrump is using this pandemic to hide the fact that the economy sucked even before the virus hit.
His administration routinely over inflated all the numbers to artificially pump up the stock market, now they are able to dump the real numbers in making the effects of the virus appear far worse than they really are. We were already in a recession before the pandemic hit, Trump's corrupt administration was just hiding it to get him re-elected.
And now all I keep hearing is ... you can't blame Trump for the economy,
Which is utter bullshit.
It's no different than a criminal getting away with burglary because the building where he committed the crime at 1:00 AM was struck by a tornado at 2:00 AM
OnDoutside
(20,862 posts)at least 100,000 people to a needless death.
Bear in mind the anguish of 4,500 deaths currently, wait until it's 10 times, 20 times, 30 times that.
ProfessorGAC
(76,152 posts)...growth, in far too many cases, was based on mountains of of cheap debt and limited cash positions.
Geez, companies like Uber & Lyft were losing money and the stock went up. Uber lost 1.1 billion and between Nov & February, their stock went up 37%.
The economic fundamentals did not, in the classical sense, support the stock inflation.
That's just one example. Debt to equity ratios now average 1.5. 20 years ago that was considered risky except in heavy manufacturing. Now it's the average. The company from which I retired had a D/E of 0.59.
The economy isn't bad, ( until now, with 20+ million people lose their income), but it wasn't the robust picture painted by business media & the equity markets.
These folks still don't seem to grasp that the stock market is not supposed to a leading indicator of the economy. That belief is why crashes happen.
