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Stop the World
There's wisdom in the old saying that the world keeps turning: Earth's rotation appears to be just about the only thing Coronavirus can't stop. So far, about 0.0005% of the U.S. population has been diagnosed with COVID-19. Of those, only the ones with severe cases - not mild or even serious - need to worry about falling into that unlucky 1%. It's scary, hearing that severe cases of Coronavirus come with a mortality rate ten times higher than the flu - well, scary until you realize that it's 1% of severe Coronavirus cases compared to 0.1% of all diagnosed cased of flu, severe or otherwise.
Still, the outbreak has the nation and the world running scared. Coronavirus seems to be canceling - or at least postponing - America, from concerts and sporting events to political rallies and even some primaries. Disneyland is closed, schools are closed around the nation, and many investors are probably wishing the stock market would close and save them some pain. As Liberty Nation's Andrew Moran wrote:
This summarizes just how much Pepto Bismol you will need: About 73 stocks on the NYSE fell for every one advancer.
What to Watch For
Schools, political events, concerts, parades, and entire seasons of massively popular sports - COVID-19 has caused the cancellation of a huge chunk of American culture. As more cases are discovered, expect this wave of cancellations to expand. When the virus panic dies down, the nation can begin to get back to life as usual. The question is: When?
But It Won't Stop Trump
There's one other thing Coronavirus seems unlikely to stop, and that's what the president's supporters like to call the Trump Train. The Democrats will do anything to unseat Trump, but history just isn't on their side. Of those one-term presidents who tried for re-election and failed, approximately zero of them enjoyed Trump's success with the economy or even national popularity. Derailing the Trump Train would require a massive amount of work - or luck - from the left. Many are hoping that Coronavirus will be the millstone around the president's neck, but Liberty Nation's Graham J. Noble has some bad news for them:
The national emergency declared by President Donald Trump on March 13 was unavoidable, given both the hysteria over the spread of COVID-19 and the urgent need to override an abundance of bureaucracy and red tape that would have otherwise strangled efforts to contain the virus. It seems, though, that a great many people – particularly in Washington, D.C. – have staked an awful lot on this pandemic having epically disastrous effects on the nation’s economy. If they turn out to be wrong, the political consequences for them will last far longer than the current health crisis.
What to Watch For
Look for Coronavirus to take its toll at the polls. Postponed primaries and decreased voter turnout are the real plagues for Democrats right now. The president has canceled events just like everyone else, but his status as the GOP candidate isn't really in dispute. Expect Joe Biden to be the Democrats' pick to face the president. He's the frontrunner, he's the establishment choice, and every hiccup in the primary process hurts his opponents far more than him. Then don't be surprised if the pressure brings out more of the increasingly frequent "senior moments" that show the vice president's apparent cognitive decline. The Dems seem to hope Coronavirus will save them from Trump, but it doesn't seem like it will.
Washington Whispers & Other Juicy Tidbits
Be on the lookout for:
More states are postponing their primaries. It started with Louisiana, but now Georgia has as well. Look for others to follow suit.
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