Coronavirus Hits the Economy

Nel's New Day

The latest victim to fall to the coronavirus in the United States was the economy: in the past two days, the Dow Jones stock market dropped almost 2,000 points, the worst two-day point drop on record. The three biggest indexes—Dow, S&P 500, and Nasdaq—each averaged three-percent drops for both yesterday and today. Goldman Sachs, citing the dangerous virus, cut its growth forecast for the U.S. economy to 1.2 percent for the first quarter, well below the 2.3 percent rate in 2019 and nowhere near the 4 to 6 percent that Dictator Donald Trump (DDT) promised when he pushed through his massive tax cuts for the wealthy and big business.

DDT largely ignored the coronavirus until the drastic drop in stock markets. That’s when he considered a request from Congress for first $1 billion and then $2.5 billion to ameliorate the disease–and raise the Dow. Asha George, director of the…

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