How Serious Is The Coronavirus And Its Impact On The U.S. Economy
More and more Americans are asking the question of How Serious Is The Coronavirus?
- The first death from the widely spoken coronavirus hit yesterday in Washington State
- The coronavirus scare has shaken the financial markets last week
- The Dow Jones Industrial Average entered correction territory along with all other market indices
- The Dow tumbled more than 12% in one week
- A market correction is defined as when the market drops 10% or more
- A Bear Market is when there is a market selloff of 20% or more
- Will the market selloff continue into next week?
- Can we enter a Bear Market?
- There are conflicting stories on How Serious Is The Coronavirus
- President Trump is accusing the Democrats and the Media of exaggerating the coronavirus threat and trying to trigger fear to Americans
- Republicans are mixed on how they feel on how serious is the coronavirus
- Either way, the effect of the coronavirus is yet unknown
- One thing for sure is the Democrats are politicizing the coronavirus scare to take advantage of winning the majority in the 2020 election
- This holds especially true in unseating President Trump with a Democrat President
- No politician, whether Democrats and/or Republicans should politicize a potential international epidemic for their party’s benefit
- The U.S. economy is fundamentally strong and is expected to become stronger
- The housing market is booming with no signs of a slowdown
- Mortgage rates are tumbling which is adding fuel to the fire on the housing market
- However, the coronavirus scare can change all this
How Serious Is The Coronavirus And Why Is There A Market Selloff?
The financial markets do not like uncertainty.
- More so, the financial markets are terrified of fear by investors
- Whenever there are uncertainty and fear in Wall Street, investors panic and a market selloff occurs
- The answer to How Serious Is The Coronavirus, it is extremely serious
- Until we find How Serious Is The Coronavirus and a solution to a vaccine and/or cure, the markets will remain uncertain
- The stock market will remain volatile and we can possibly enter a Bear Market
- A market correction happens when there is more than a 10% drop in the market. In one week, the U.S. stock market dropped 12%
- To add to more uncertainty, there was a woman in Washington State infected with the coronavirus who died late Friday night after the market closed
- This was the first death recorded in the U.S. from the coronavirus
- Some Democrat politicians like Nancy Pelosi, Chuck Schumer, Adam Schiff are using this serious international potential viral epidemic to politicize their party
- These actions are despicable and immoral
The coronavirus scare should not be used as a political weapon to benefit one’s party over another and win the majority in Congress. This holds especially true for Democrats using fear tactics to win the 2020 Presidential Election and get President Trump out of office.
President Trump Accuses Democrats And The Media Of Politicizing The Coronavirus Scare
President Donald Trump while on a campaign rally Friday in South Carolina accused the media and the Democrats of politicizing the coronavirus. He went further and said that the “Do-Nothing Democrats” are using the coronavirus scare as their new “Hoax” and are on a major fear campaign and blaming Trump for this unknown potential worldwide epidemic that started in China. President Trump said the following:
News outlets like CNN are “doing everything they can to instill fear in people, while some Democrats were “trying to gain political favor by saying a lot of untruths. Journalists are hyping the coronavirus because “they think this will bring down the president; that’s what this is all about.
Trump continued said the Democrats are not wasting any time in politicizing the coronavirus since the Russian Collusion hoax, Ukraine hoax, and fake impeachment is now over. The U.S. State Department urged Americans to reconsider traveling to Italy. The coronavirus has now spread to Italy. Adding to the already panic in the U.S., California reported a second case of a victim who is infected with the coronavirus.
The World Health Organization reported victims of the deadly coronavirus in 56 countries and issued a high-risk warning until further notice. The coronavirus panic forced the stock market into correction territory. The U.S. financial markets closed their worst week since the 2008 financial collapse.
Are Democrats Really Politicizing The Coronavirus Scare For Their Benefit?
There are always two sides to the story. The Trump Administration is no doubt alarmed about this unknown coronavirus and the seriousness it may affect people. However, it is obvious the Trump Administration is taking this threat very seriously. They are also trying to avoid a national panic where all economic engines shut down completely. It is obvious Democrats are trying to use the coronavirus scare as a political tool. However, how far are they willing to go? Are they that much of scumbags that they want to create panic for its political benefit? It sure seems like they are headed towards that direction.
New York Senator Chuck Schumer said the following:
Mr. Trump is making the crisis all about himself rather than the American public. For Mick Mulvaney to suggest that Americans turn off their TVs and bury their heads in the sand when they’re worried about a global health pandemic is Orwellian, counterproductive, dangerous and would be repeating China’s mistake. The coronavirus poses a greater danger to Americans than General Suleimani. The Trump Administration is not forthcoming about the real risks each presented. Because of the dishonesty from this administration on this and many other issues, Americans have lost trust in their government. Now we’re facing a serious global health crisis in the form of the coronavirus and trust is more important than ever.
New York Republican Representative Lee Zeldin called Chuck Schumer a joke.
How Serious Is The Coronavirus And What Does All This Mean To The Average American Family?
It is unfortunate that the media and Democrats like Nancy Pelosi, Chuck Schumer, Adam Schiff need to politicize the coronavirus scare into trying to create fear and panic to Americans for their political benefit. As it stands today, there is no definite answer to how the coronavirus will last. There is no answer when the stock market will hit bottom. There is no set definite answer on how the economy will suffer. One thing to keep in mind is that America’s health team is the best in the world. The Trump Administration seems like they have everything under control and are ready for any potential bad news. The economy is still strong fundamentally. The housing market looks stronger than ever. Mortgage rates are tumbling due to the coronavirus scare. This is at least a benefit for mortgage borrowers. No doubt, mortgage borrowers will be seeing mortgage rates plummeting in the coming days and week. This is a developing story. Gustan Cho Associates Mortgage News will keep our viewers updated in the days and weeks to come on this story.