WASHINGTON (AP) — U.S. consumer confidence tumbled in March as the impact of the coronavirus began to be felt.
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=1300717
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=1300717
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We’re not surprised.
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While Americans worry about Covid infections/death, unemployment (3.25M job loss last week) and how to survive…
The Covidiot-In-Chief worries about…
But my numbers…
But my TV ratings…
But my blown hair…
So yeah, Consumer Confidence Index would be down!
Addendum:
And there is this…
RethugniCONS are now saying no more financial aid for Mainstreet in the future after getting TRILLIONS of US tax dollars for the Wallstreet, Corporations and $500B Slush Fund that Covidiot Trump wants to oversee with “Hortatory and not mandatory” compliance to Congressional oversight!
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Commander-in-Tweet Confidence plummets into a previously unknown dimension.
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confidence index dropped to a reading of 120 in March from February’s 132.6.
Like the vaunted DOW, quickly approaching the level before the Ignoramus-in-Chief was sworn in.
What, me worry? I have it on the authority of none other than Steve Mnuchin that the economy will come roaring back in the 3rd quarter 4th quarter soon, real soon. Maybe it will, maybe it won’t. We’ll see.
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The upcoming depression we will suffer through as a result of this pandemic will hurt as much as people dying. Hopefully, the one good thing to come out of it is further eroding support for Agolf Twitler.
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Ya’ think?
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Currently, of course, his support has gone up, though not as much as would be the case if he were a normal president with any measure of actual competence. A massive PR battle is being fought in parallel to the crisis. I think Democrats must understand–and to be fair, probably do understand–that a national emergency almost invariably helps the incumbent. Bitter lessons have been learned, it is to be hoped. George W Bush engineered and timed the second Gulf War to boost his re-election chances, and Democrats of the day essentially surrendered a second term to him, even though he was obviously incompetent and the war was obviously a disaster in the making. At all costs Democrats must guard against giving any credit to the Republicans in the name of a national unity that doesn’t exist and won’t exist so long as the conservative movement remains a cult.
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Looking for the proverbial silver lining, if this really does produce Herbert Hoover ver. 2020 then maybe it will also produce the FDR Redux and long term Democratic control as we slowly rebuild the country from the cumulative effects of the disasters known as Reagan, Bush, Bush and Trump.
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Mainstreet needs to be reminded of this later when they are thinking about how they got into the situation they’re going to be in.
Far more than Trump, the Republicans are the true owners of this nightmare. It’s their belief in the “Not really accurately factual based Free Market (not all costs are factored in, thus inaccuracy reigns),” that LESS government is better, that States should compete against each other (United States be damned), and that Wall Street is more important than People-remember Corporations are people in their view, that is why this crisis is so bad and only getting worse.
They have enabled and supported and actualized Trump, without them Trump would be rotting in a cell in Leavenworth or Sing Sing. Without McConnell et al there would be no “Roberts” Court, no effing Wall, no Trade Wars that have been draining our pockets, no DC Swamp rebirth, no Jared Kushner, no Iranian Nukes, no spreading global climate change, probably no Brazilian and Italian and Hungarian etc. wanna be dictators.
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Sad, but, how many Fox Gop viewers are there compared to how many Democrats and Independents are there?
Let’s not give that ignorant subset the same standing and the majority of the Country, there are, after all, way, way, more Dems and Indy’s than GOPpers.
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Consumer confidence would rise if Trump simply told the public to listen to Governor Cuomo and Dr. Fauci rather than himself.
ETA:
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Unlike W, Trump unfortunately has hoisted himself on his own petard, with quotes like calling it a hoax, “we have it under control”, and having 100k deaths as a sign we’re doing a “good job”. W wasn’t made culpable of 9/11 until it was revealed much later that he was warned about it months ahead, but by then the elections already happened.
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The one thing that makes Trump’s briefings different than Gov. Cuomo’s briefings-- other than myths, ramblings, word salads, berating reporters, and having infomercial hosts at the podium-- is the total lack of empathy. Cuomo, along with MOST governors, show it during their briefings; they take the human toll very seriously, whereas Trump doesn’t seem affected by it at all, unless it does something for his ratings.
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Ehhh, give it another FU!
The steep decline reflected rising worries about the coronavirus during the survey period of March 1-18. Economists say confidence is sure to fall further as
the virus’ impacttRumps dailybriefingscampaign rallies take a bigger toll on the economy.
More truth less KAGA nonsense…
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No shit. Most people I know well can work from home (or at least give it the ol’ college try). But everything is collapsing around them. No one is going to buy a new car this year or remodel their kitchen. Everyone is living off of rice and beans because who knows what happens when family members get sick and those medical bills start pouring in. That’s aside from the whole domino effect from being unable to just snap your fingers and restart the economy when things get better.