On Thursday, Rep. Nancy Pelosi told CNBC’s Jim Cramer she wasn’t clear when America could reopen for business. This is in direct contradiction to Pres. Trump’s optimism that it could happen next month.
Cramer asked Pelosi if shops could open up in May, her response was one of double talk and confusion.
“This is an era of entrepreneurship like none we’ve ever seen before because of the challenge to small businesses,” Pelosi said. “Let’s recognize what that is — that optimism is — to America, but I don’t think anybody can tell you a date unless we just take it a week at a time. But let’s be hopeful that it’s soon.”
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The U.S. economy was effectively put on hold last month as the federal and state governments hunkered down on the coronavirus epidemic by closing nonessential businesses and ordering social distancing mandates. The moves were made to slow the infection rate.
The closure of bars and shopping malls, among other businesses, however, has pushed more than 16 million Americans to file for unemployment claims in the past three weeks and lawmakers to pass a series of bills to combat the economic effect of the health crisis. The stock market, which was putting in record highs, has since been toiling in bear market territory.
The White House is reportedly mulling a second coronavirus task force [2] to focus on the economic damage of the pandemic. Investors have worried that the prolonged shutdown could push the economy into a recession or worse.
“We could have a depression because so many people are out of work, and that’s why we have to get the system really energized and working,” Pelosi said in the interview. “Let’s get out those unemployment checks. Let’s get out those direct payments. Let’s get these loans freed up.” [CNBC]
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People, listen up. The US Government has no idea what they are doing. The total shut down and other government actions are not working! In fact, cases and deaths are increasing at an alarming rate. Look at the data. They do not understand the clinical pathology of the Chinese Virus and transmission.
Nancy and Chucky, the clown, are hoping the US economy never comes back, why else would they vote no on a deal to give small businesses money to weather the storm?
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This piece was written by Wayne Dupree on April 10, 2020. It originally appeared in WayneDupree.com [4] and is used by permission.
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