The Trump administration is pushing to reopen much of the country in May, raising concerns among health experts and economists of a possible covid-19 resurgence if Americans return to their normal lives before the virus is truly stamped out. The body count could rise considerably higher if Trump and his administration act impulsively and only with economic interests guiding their decisions.
Behind closed doors, President Trump — concerned with the sagging economy — has sought a strategy for resuming business activity by May 1, according to people familiar with the discussions. He is afraid that the tanking economy will cost him his presidency. He remains without humility, and is not afraid that COVID-19 will bring damage to his own health, or to the health of his family and close circle of friends. It is quite easy for the rich and powerful to avoid the ravages of COVID-19, because they do not work in the trenches where the disease spreads the easiest, like in grocery stores, workplaces, hospitals, or nursing homes. Lower middle class citizens have no financial laurels to rest upon, and feel obligated to keep working, keeping them exposed to much higher risks of infection.
The coronavirus pandemic sweeping the world will turn global economic growth “sharply negative” in 2020, triggering the worst fallout since the 1930s Great Depression, with only a partial recovery seen in 2021, the head of the International Monetary Fund said.
IMF Managing Director Kristalina Georgieva painted a far bleaker picture of the social and economic impact of the new coronavirus than even a few weeks ago, noting governments had already undertaken fiscal stimulus measures of $8 trillion, but more would likely be needed.
My father lived through the time of the Great Depression when Hooverville cities sprung up around the country.
We now get to live through the new Trump Towers era.
What type of Trump Tower will predominate, the tombstone, or the tent?
My fear is that both will be the result of Trump’s incompetence and hubris.
Stay tuned.
