Posted on 02/25/2020 6:50:40 PM PST by SeekAndFind
National Economic Council Director Larry Kudlow tried on Tuesday to assuage concerns over the cornavirus and its impact on the U.S. economy.
“We have contained this. I won’t say [it’s] airtight, but it’s pretty close to airtight,” Kudlow told CNBC’s Kelly Evans on “The Exchange.” He added that, while the outbreak is a “human tragedy,” it will likely not be an “economic tragedy.”
“There will be some stumbles. We’re looking at numbers; it’s a little iffy,” Kudlow said. “But at the moment ... there’s no supply disruptions out there yet.”
Kudlow’s comments came as the stock market tanked for a second straight day amid worries that the coronavirus outbreak would lead to a prolonged global economic slowdown.
The Dow Jones Industrial Average was more than 700 points lower Tuesday, down 2.7%. On Monday, the 30-stock average had its worst day in two years, dropping more than 1,000 points.
Investors dumped equities in favor of U.S. Treasurys, which are traditionally seen as a safe haven during volatile stretches for the stock market. The benchmark 10-year Treasury yield dropped to 1.32% to reach an all-time low. The 30-year also traded at a record low. Yields move inversely to prices.
Still, Kudlow said the U.S. is “holding up nicely,” adding, “All I can do is look at the numbers.”
(Excerpt) Read more at cnbc.com ...
I hear ya brother.
Made the point several times today that MERS and SARS are coronaviruses.
What was the reaction to those?
Even posted a link to the CDC today since all they were doing was putting up the NYT and WAPO and good for S&^t news site like those.
Kinda like the wackos on youtube posting about Yellowstone and how it might blow in the matter of days. Unreal..
I know SARS, h5n1, h1n1, & ebola were all supposed to kill us off yet here we are. This is just a rerun of the crap from the past to scare people.
Yes, because China is severely damaging their economy for a minor issue.
The thing is, this one is very contagious.
The others, not so much.
Nice work, but a bit confusing. Can you reduce what it shows to a couple of sentences?
Should be some bargains on international airfares. I know during SARS airlines were practically giving away tickets.
After all the years of making fun of snowflakes...
I’ve never seen such panicking like little girls.
Worth repeating , it’s downright humiliating what a bunch of pussys we have here on FR.
American stocks sell off to generate cash for hedge funds overexposed overseas.
You forgot swine flu.
I can provide you with a synopsis, but it will be more than a few sentences.
Yep, Ford, Bush, and Carter lost their re-election (yes, I know Ford wasn't up for re-election but work with me) when they had a bad economy or recession.
From 1900-1960, the only Presidents to lose re-election were Hoover in 1932 (GDP was down that year) and Taft in 1912 (the economy wasn't strong). Every other President up for re-election had a growing economy and, in turn, they won.
It's pretty clear that the ONLY thing that can tank Trump, aside from Dem fraud, is a bad economy.
Let's be honest: stocking up on food and staples isn't such a bad idea even if a Mainland China type of situation coming to America is hard to fathom. That said, is it possible that there are elements in America and the Deep State that are chatting up a pandemic to bring about a recession and the demise of Trump?
What an Idiot !
There were cases in India in January, but now there are none.
No major outbreaks in the Southern Hemisphere is a good sign. if we make it to spring, the US is home free until fall.
Over 3,000 in CA alone are in home quarantine. Nearly 5,000 nationwide.
Is that fully contained?
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