By Tyler Durden | 28 June 2020
ZERO HEDGE — President Trump’s economic COVID-19 response, through massive fiscal and monetary stimuli, was expected to generate a V-shaped recovery ahead of the elections. We noted, all along, there was never a snowball’s chance in hell that economic growth would revert to 2019 levels later this year; nevertheless, the labor market would fully recover.
If readers recall, President Trump has given several press conferences where he declared that the economy is quickly recovering: “We’ve been talking about the V,” the president said. “This is better than a V. This is a rocket ship.”
A new report via Yelp, tilted “Local Economic Impact Report,” debunks the V-shaped narrative and tells a much different story of slow reopenings and widespread permanent closures, all suggesting the economic devastation continues to crush the economy with no recovery in sight. […]
“This is better than a V. This is a rocket ship.”
Trump is so infantile.
… nevertheless, the labor market would fully recover.
How is that possible with 41% permanent closures in a certain/significant business segment?
Anyway, Trump doesn’t/is too stupid to care — he has only/ever bellowed about 1) the stock market, and 2) minority unemployment.
The Fed creates trillions of fiat dollars for Wall Street. Who needs an economy?