Trump’s dream of a V-shape rebound slowly slips away
When the economy was slipping in the second quarter, Trump pumped up the third quarter. Now the high hopes are slowly deflating.
Shortly after this broke, Trump tweeted about delaying the elections. He doesn’t have the power to do that—but with the economy collapsing, his utter incompetence combined with a propensity to use fascist tactics to hold sway over people makes me beware.
"This is obviously the ugliest quarter we’ve ever seen in our history ... A couple of weeks ago there was a lot more optimism that we would see a strong V-shaped recovery. ... And every day we don’t have a new stimulus ... is hurting the economy."
I’ve heard it many times from the oil industry, but it applies to the broader economy, too: the best thing Trump can do is get the coronavirus under control.