The stock market had its biggest single day point drop and second worst percentage drop (Black Monday is still #1) yesterday. Much of the drop came as investors began to realize how badly our economy is going to get hammered by the coronavirus outbreak, and some of the drop occurred when Trump started speaking at a press conference. His words instantly sent the market down, and the selling picked up speed when he mentioned that the outbreak may not be over until July or August.
It’s a horrible thing to consider. A veritable shutdown of society for four or five months. Just yesterday the governors of New Jersey, New York and Connecticut required all gyms, casinos, bars, nightclubs, theaters, cinemas, and restaurants to close, while bars and restaurants can continue to sell food for takeout and delivery. Grocery stores and pharmacies can remain open. And San Francisco called for all residents to “shelter in place” for three weeks, a similar but slightly more restrictive regime. These local shutdowns are the only way to slow the spread of the virus and allow the healthcare system to catch up and treat those affected while determining who is a carrier. Some are calling for Trump to implement a similar nation-wide shutdown, as Italy has done, but so far he as balked. Meanwhile, we are still way behind when it comes to testing but a massive effort to create more tests seems about to come to fruition, will millions of tests apparently about to be delivered and many more on the way.
Another casualty of the coronavirus was today’s Democratic primary. Several states postponed the scheduled vote including the state of Ohio, whose reps said they didn’t want their citizens to have to choose between democracy and personal health. We have to be vigilant and make sure these primaries happen at first opportunity. We don’t want them to fall victim to bad-faith Republican dirty tricks or political maneuvers.
Our area was one of the first to be affected, and it will take some time for our state to get a handle on the outbreak, but we should also be among the first states to recover, especially now that Governor Cuomo has taken bold steps to shut things down despite inaction and confusion in Washington. Congress has been considering a monthly cash payment to all citizens for the duration of the shutdown to defray lost income, but there is still going to be a lot of pain and hardship in our area. This would be a great time to email or text your neighbors and ask if anyone needs help or just needs somebody to vent to.
Keep resisting Trump and keep working to “vote his ass out of office.”