Monday 24 August 2020

Trump believes economy will save him

Donald Trump never looks defeated. In his opening remarks to the Republican National Convention in Charlotte, North Carolina, he claimed the US economy was going to do a V-shaped upward leap and look pretty good by election time. He helped the economic boost along by announcing last night that he was pushing a coronavirus treatment to be given to patients as quickly as possible. That alone excited the stock market. A few announcements like that and Trump could make the Dow Jones go wild with excitement. You could argue this is manipulating the stock market. It's a bit like Vladimir Putin declaring that Russian scientists have developed a vaccine for Covid-19, beating every other country to the winning tape. The rest of the world doesn't believe him. In response Trump is now hinting that he is going to buy millions of vaccine samples from the Oxford research laboratory that is currently engaged in developing a vaccine. It's not ready yet and probably won't be till late next year. But Trump has decided he wants to grab this vaccine now to distribute to the nation. Like Putin's vaccine, the "Trump" vaccine, courtesy of the Oxford researchers, might do wonders to the US economy even if it's totally premature to try and stave off the pandemic with a vaccine not yet fully tested on human guinea pigs. In politics everything can be manipulated to boost Trump's chances of being reelected. The Democrats, still on a high after their nomination of Joe Biden and Kamala Harris, are going to need to be super cunning to outfox the incumbent president.

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