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 ...
“Yet Apple has no iphones.”
I purchased a new iPhone last Friday. My local store had plenty to choose from.
Personally, I believe this situation is just a tempest in a teapot. Complete overreaction.
The hysteria over a virus really has me completely bewildered especially from the people on this site who are the smartest people this nation has to offer!! This is a virus, just a virus AND if your immune system is not comprised it will just run it’s course just like the flu and everyone will be just fine!!!
Yes they are the smartest. You can read the virus threads and skip the hard parts, though. Or you can just plain refuse to see the difference between a bioweapon and an ordinary virus. Up to you
Yeah, I guess my point is that we could be missing thousands/tens of thousands of Chinese/Iranians who didn’t make it into the “official count” because they were rural and didn’t’ go to the hospital/clinic to be counted. Some of those recover & some die at home but neither make the “list”. Like the flu in the USA...most people “tough it out” and don’t go to the doctor/hospital so the count is always “approximate”. I am sure the CDC/government “mortality rate” formula is way more scientific than mine/ours. ;-)
True. Thanks for the comments.
They are way, way too early for that to work.
The odds are good that this goes away with the spring weather and the economy recovers well before the election.
President Trump gets to take credit for it and the RATs get to gnash their teeth one more time.
On what planet does February = summer in India?
(India is in the Northern Hemisphere and the seasons are the same as in the US.)
If it ends up that nothing bad happens, and the virus peters out, then this is STILL the closest to a genuine worldwide medical crisis we have ever been for the last 100 years. Seriously.
CDC...trust them ha good one. They have tested 426 people as of today. Doctors have been asking to have tests run on pneumonia patients who test negative for flu and have been refused due to the “guidelines” which are available on the CDC web page. A quick glance shows one glaring problem they expressly prohibit testing of patients who could have got exposed through community spreading from a nonChinese vector, perhaps like BC with a person from Iran, or Italy or Korea or Japan who themselves was not certified by the glorious CDC. So if a Iranian or Japanese or Korean comes in which thousands per day are and infects an American that American will be denied the test by the CDC guidelines that’s why we have “57” cases they flat out are not testing for it. Can’t panic the people have to keep the spending in the economy you know. Korea has tested 40,000 and published the results by location even they have a phone app to show said locations that’s transparency.
Yes, he is too optimistic. Larry being Larry I don’t think he’s qualified to discuss a pandemic
Meeeow
Yeah I kinda miss the usual wisecracks and attempts at humor on a serious thread. Not really :)
These days, seems anything is possible, and I wouldn’t put it past them.
Well that's going to wind up on Democrat adds once the virus spreads.
A glorifies flu with 300 times the death rate as unglorified flu.
Its always Italian, Chinese, Korean or Japanese summer in most of India.
Check the BNOnews map for spreading Coronavirus south of the Equator. Its initiating, but it isn’t propagating from the initiation points. It isn’t like Indonesia, Phillipines, all of South America, central America and Africa are known for their personal Hygiene.
Its weird that shithole countries with lots of Chinese visitors at/south of the equator aren’t swimming in coronavirus over a month after the first cases arrived directly from Wuhan.
Thank you.
Spot on!
Good thing it’s contained.
LOL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
That is SOOOOOOO FUNNNNNNNNNNNYYYYYYYYY
You know - because you couldn't recognize what was really happening and all. After all - it was pretty freaking obvious (and yes - I shorted on the 24th and am still short)
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