Hoping for a sign of hope, the Dow Jones Industrial Average rocketed up 2,132 points or 11.5% on expectations that Congress will pass a $2 trillion aid package to lessen the blow to the U.S. economy. While optimistic, Wall Street has seen major rallies fizzle out when reality sinks in that the U.S. economy is heading for at least two consecutive quarters of negative growth, something that designates a recession. With U.S. coronavirus AKA CoV-2 or Covid-19 hitting 51,768 total cases, 8,034 new cases and 667 deaths, Wall Street could be getting ahead of itself. But at least for today, there was some optimism on the street, hoping that the bipartisan aid package for businesses and families helps ease the pain. With New York’s 26,665 active cases, 4,790 new cases and 210 deaths, the World Trade Organization [WHO] said the U.S. was becoming the coronavirus epicenter.
Speaking at his daily briefing today, Trump hoped that he could give the return-to-work order by Easter, April 12. U.S. health authorities weren’t so sure that would work if cases continue to rise in New York City and other parts of the U.S. “I would love to have the country opened up and raring to go by Easter,” Trump told Fox News. New York Gov. Andrew Cuomo pushed back, saying that he’ll have to wait to see whether there’s a sizable reduction in new cases in NYC. NYC, with its extreme population density and crowded living conditions, has become the hotbed of coronaviurs cases in the U.S. When you consider that Calfornia has more than twice the population on only 2,266 total cases, 133 new cases and 43 deaths, it’s way behind New York in terms of per capital infections. That didn’t stop California Gov. Gavin Newsom from predicting March 19 that the state could see 25.5 million Covid-19 cases.
No one in the press called Newsom out for making such outrageous predictions. At this rate it would take 100 years to reach the 25.5 million number, with the state at 2,266 total cases. Newsom made the statement to justify his “shelter in place” order, forcing Californians to stay in their homes. Yet new CDC guidelines urge the major municipalities to leave the state’s 151,278 homeless population in their encampments or on the streets. Infectious disease experts worry about infecting first responsders or, more importantly, creating a breeding ground of SARS CoV-2 infections in designated shelters. State officials and local officials have gotten commitments from empty hotels to house the homeless population, something the CDC said would make the coronavirus outbreat far worse. Trump looks at the economy, and sees nothing but red ink as far as the eye can see.
Getting people back to work won’t be easy now that the media and medial community have scared more citizens into hunkering down. Los Angeles Unified School District [LAUSD], the second largest in the nation, said it targeted May 1 for a possible reopening of public schools. If not May the entire Spring-Summer term would be lost, postponing a reopening to August or September. Trump sees the economic carnage from the large-scale closures of major American industries, both large and small. “We lose thousands and thousands of people a years to the flu, we don’t turn the country off every year,” Trump said, making an argument that doesn’t fly with the media or health officials. Medical authorities, led by 80-year-old National Institutes of Health Dr. Anthony Fauci, have urged Trump to keep people socially isolated, distancing and frequently washing their hands.
White House officials have a tall order convincing the media that it’s safe for ordinary citizens to return to work. Opening up restaurants and bars would be a logical first step but only if epidemiologists certify that the Covd-19 crisis has slowed down. Trump points to public shootings in Baltimore, where the current shutdown has led to increased violence. If unemployment spikes, driving more people into homelessness, it’s going to spread more crime and violence on the streets. Keeping people employed, able to provide for their families, is an essential part of reducing inner city violence. Elected officials, like New York Gov. Andrew Cuomo, have urged residents to “shelter in place,” stay at home whenever possible. Elected officials won’t shift gears unless health authorities, not Trump, give the green light. There’s no one from NIH, Centers for Disease Control [CDC] or WHO willing to say that yet.
Wall Street’s big rally today says nothing about what’s on the horizon for tomorrow. With WHO saying the U.S. has become the epicenter of the coronavirus crisis, it’s doubtful that on Easter Sunday health officials will have a change of heart. Trump wants to minimize damage to the U.S. economy but telling people to go back to work won’t work unless it’s backed by solid evidence for the health community. Connecticut Gov. Ned Lamont (D-Conn.) asked Trump yesterday to issue a nationwide “shelter in place” order, something Trump left to the states. “We will not put a dollar figure on human life,” said New York Gov. Andrew Cuomo, rejecting Trump’s call to see Americans return to work. “We can have a public health strategy that is consistent with an economic one,” underscoring the reluctance for any governor to take more risks. Trump’s hands are tied without heath authorities’ backing.
