March 3, 2020
So maybe Trump’s response to coronavirus didn’t destroy the American economy
By Andrea Widburg
Since the moment coronavirus entered the media’s vocabulary, the media and the Democrat party have been working diligently to assure the American people that it’s the second coming of the Black Death and that it’s all Trump’s fault. Disgustingly, many of them have been insisting that it will destroy the American economy (which, after all, is one of Trump’s biggest selling points) and certain people who shall be named – Paul Krugman, I’m talking to you – seemed to celebrate the stock market’s big drop last week. The stock market, though, seems to be recovering already, posting huge gains on Monday.
Don Surber, one of the most astute bloggers around, was unsurprised by the market’s gyrations because he had predicted this event long ago:
NPR reported, "Stocks took another steep dive Friday, deepening a multi-day rout fueled by fears about the coronavirus' impact on the global economy.
"The Dow Jones Industrial Average fell 357 points on Friday, capping a week in which the blue chip index fell 3,583 points or 12.4%. The Dow is down 16.3% from its recent peak on Feb. 12."
This is the correction I predicted for 2020 in highlights on December 31.
(See Item 19: "I am tepid on the stock market. The Total Market Value of American companies is now 144% of the GDP. I see a midyear correction of 10% to 15%. The press will cheer, again to their great disappointment as the stocks will rebound. But history shows big growth following a year like this year's huge growth. Also it is a presidential re-election year. My advice as always is watch what Warren Buffett does.")
There is no way I knew that a new strain of flu would trigger the correction, but this gives the stock market time to weed out the weak stocks and rally 'round the strong ones. The Dow Jones Industrial Average should hit 30,000 by the year's end.
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https://www.americanthinker.com/blog/2020/03/so_maybe_trumps_response_to_coronavirus_didnt_destroy_the_american_economy.html
