We have said it over and over.

Big business and economists do a fantastic job understanding the risks inherent to life. You take risks driving your kids to school, it is just that the benefit of educated kids overweigh the risk. But you make that assessment with the proper tools, seat belts, car seats, air bags, safer cars, etc.

Businesses and economists are just like you. They depend upon facts to weigh risks, and they rely upon professionals in government to handle those risks appropriately.

Last night, Trump held a press conference meant to assure everyone that everything is not only fine, it’s great. We could have as few as “zero” cases in days – because of Trump, of course. He held that press conference and did the only thing he ever does, lied, and ignore the facts in front of his face.

He downplayed the numbers, and is too late in his reactions. He is not dealing with us – or the people that move the markets – straight-up. Now the markets are punishing Trump’s handling of the Coronavirus, not the Democrats, or the media.

The futures markets went down last night during Trump’s press conference and stayed down into the night. The Dow opened this morning down 5oo points in the first 10 minutes. To be fair, part of the downward trend had to be based upon the news that the first non-travel related case of Coronavirus appeared in northern California almost at the same time as the press conference. It should also be taken as a given that the Dow could bounce up from the initial bomb.

But not all of it can be blamed on that report, we had already been assured that it will spread. And there is a good chance the market will continue to fall throughout the day.

It is unavoidable. Trump is being punished for both his failure to appreciate the risks, both to the economy and public health. We reported at the end of last month that Larry Kudlow – Trump’s economic advisor, predicted that the virus would be “good” for the American economy because it would bring jobs back to the United States. Denial and stupidity were some of the first reactions, back when an appropriate response could have made a difference. No one has seen any indication that the response will be better now.

The virus will not be “good” for the American economy. We could be on the precipice of school closures, cancellations of sporting events, movies, any large gatherings. It could severely dent the American economy, one that had already been sitting on record highs that foretold an inevitable pull-back.

He is oblivious, and will surely blame everyone but himself, looking increasingly inept. Just as now, the American people will punish such a response when it impacts them directly. We have been talking primarily economically in this post, but of course, no economic pain will hurt more than the deaths experienced.

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Peace, y’all

Jason

[email protected] and on Twitter @MiciakZoom