The U.S. economy will weather the Chinese coronavirus:
http://dailytorch.com/2020/03/the-u-s-economy-will-weather-the-chinese-coronavirus/
President Donald Trump has declared a national emergency on March 13 as millions of Americans, especially older Americans, will be weathering the outbreak inside, only venturing out for groceries and largely working from home. Massive stockpiling of food and medicine is already occurring nationwide. Expect an uptick in retail spending in the first quarter of 2020. Any such spending surge, however, will surely be offset by slowdowns elsewhere by affected industries across the country amid the uncertainty. Over the next month, as drive-thru testing becomes more widely available via the public-private partnerships being undertaken by the Trump administration, a lot will be learned about the extent of the virus’ spread. Expect a jump in new cases and more turmoil so long as the number of new cases rises. But eventually, the number of new cases whether owing to a flattening of the curve or warmer weather will drop, and that could catalyze a massive bounce both on markets as well as economically as millions of Americans are able to begin participating in the labor force again. The U.S. economy is the largest in the world with a 50-year low of unemployment, and thanks to the success of the past three years of cutting taxes, regulations and crafting better trade deals, and with your own efforts to mitigate the risk of the virus by following CDC guidelines, we will all weather this storm together. How are you faring?
