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Trump predicts 'spectacular' rebound as U.S. economy plunges

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By KEVIN FREKING and JILL COLVIN

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The same guy who predicted the virus would be gone by April.

What a visionary.

15 ( +16 / -1 )

Donald Trump Feb 27 2020

"[W]hen you have 15 people, and the 15 within a couple of days is going to be down to close to zero, that's a pretty good job we've done."

This is why China and WHO are being targeted by Trump. He dropped the ball and also, he stripped the US led pandemic unit that was in Beijing in the months months before the pandemic broke. The Chinese coverup was a local Wuhan city led effort that set the Chinese economy back as well. as the rest of the world I suspect the mayor will be doing hard time if he survives. WHO also warned the world of the global pandemic coming and stated in January that human to human transmission was happening. Trump went golfing and held fan rallies. The economy could still be doing well if he was on the job. But let the cheer squads get out the red and white pom poms.

14 ( +14 / -0 )

2021 will show a good recovery, I'm sure, but the damage is done for 2020 and someone should explain this to Forest Trump.

6 ( +7 / -1 )

I think the richest of the rich (some say 'elite', others 'establishment') will get spectacularly richer from this. They have the billions on hand and easy bank access to more allowing them to vulture up struggling middle and smaller level businesses.

I think the wealth gap in the US will get even wider. The 'elite' will own and control even more.

And Trump/McConnell and ilk will push legislation so their fellow 'elite' will pay even lower taxes, while the working and middle class - those still with jobs - will pay more.

9 ( +9 / -0 )

Does not take a genius to realize that once all the pandemic crap passes by, and we can hopefully put it to bed. The world is bound to make a comeback, as there will be an explosion of economic development worldwide as people look to make up lost time!

6 ( +7 / -1 )

There is no where to go but up.

-5 ( +1 / -6 )

And Trump/McConnell and ilk will push legislation so their fellow 'elite' will pay even lower taxes, while the working and middle class - those still with jobs - will pay more.

You do realize that Democrats aren’t shy about giving carve outs and tax breaks to wealthy corporations too. You think Senator Schumer isn’t protecting his Wall Street benefactors? They are his constituents. The year GE paid zero corporate taxes was largely due to the massive renewable energy write offs the Dems gave them. Politicians accrue prestige and get re-elected by using their tax and regulatory power. By essentially discriminating against one form of business in favor of another.

-2 ( +4 / -6 )

PTownsendToday  07:08 am JST

I think the wealth gap in the US will get even wider. The 'elite' will own and control even more.

May be that is in your country not in the USA.

Trump has made our nation USA the greatest nation in the world. Only he can do that. And he will do that. He is our best president whom we American citizens can trust.

-16 ( +0 / -16 )

“I feel it,” he said. "I think sometimes what I feel is better than what I think, unfortunately or fortunately.”

and this guy is a world leader?? Scary stuff from someone who has major issues with FACTS

9 ( +9 / -0 )

He is our best president whom we American citizens can trust.

I'm not a true believer, someone loyal to a politician or any human for that matter. As a US citizen, the last person on earth I'd trust would be a corrupt career conman like Trump.

11 ( +11 / -0 )

“I feel it,” he said. "I think sometimes what I feel is better than what I think, unfortunately or fortunately.”

With such eloquence, who would doubt him?

8 ( +8 / -0 )

You do realize that Democrats aren’t shy about giving carve outs and tax breaks to wealthy corporations too

I agree. I'm not a party loyalist. But it was Trump/McConnell and ilk who led the push for tax cuts for their fellow 'elite'.

5 ( +5 / -0 )

Just ignore him. He'll go away.

Invalid CSRF!

3 ( +4 / -1 )

When Trump talks about a "spectacular rebound" he is talking about the stock market buoyed by massive bailouts and QE and private equity firms buying up all these foreclosed small businesses and properties on the cheap. Not the miserable lingering aftermath for the American worker from this crisis.

4 ( +4 / -0 )

Just ignore him. He'll go away

No, we shouldn’t and he shouldn’t. Now he’s right, if the chains of the oppressive lockdown is recalled and the people are allowed to go to work, then yes, it would rebound, now to what it fantastically was 2 months ago, but it would definitely strengthen, but as long as this political prison keeps the country in this state then it’ll be more difficult.

-14 ( +0 / -14 )

Of course when the crisis is over there will be a rebound. No need to be a genius to know that, whether Trump says it or not, it will happen, because it always do after a crisis.

5 ( +5 / -0 )

I agree. I'm not a party loyalist. But it was Trump/McConnell and ilk who led the push for tax cuts for their fellow 'elite

What’s wrong with that? Are you going to give incentives to business owners to help them grow and help them expand which leads to more hiring, better training, better benefits for full-time workers and overall it’s a win-win for everyone. Never met a poor person to provide employment.

-13 ( +0 / -13 )

PTownsendToday  07:31 am JST

>  last person on earth I'd trust would be a corrupt career conman like Trump.

There are people who has a certain kind of mind set that they can not trust any one on this planet except oneself. Trump is not the first president of USA. He did what he has promised. He made our economy the best ever in the history of the world. HISTORY of USA. What else he as a president should do? He faced the worst attack from the opposition in the HISTORY of USA. Still he worked hard to make our nation going the right direction. Giving employment to all in USA is not a communist labor camp, or a forced salve labor. Learn to understand the difference. The best pay to all those who work. Choice to select the job, Choice to become an entrepreneur. Equal opportunity to become a Bill gate or Bezos. You are free to do anything you want and to grow. If you are concerned about income inequality then make own business and share all the profit with all the citizens. You are not living in Venezuela or China. You are in the USA. If you have mind to do that then you have freedom to do that. Again about inequality.... before Trump comes the trade deficit with China was 300 billions .... with all other nations it was many billions!!!! The so called leaders of our nation was acting like a pimp for China. Finally we have a president to stand for the people of USA. A true leader who is patriotic. A true leader whom one can trust.

-12 ( +1 / -13 )

Never met a poor person to provide employment.

Never met a CEO who has to work 60 hours a week and still have to worry about making ends meet.

11 ( +12 / -1 )

He probably said his bankruptcies would be spectacular successes when starting.

6 ( +6 / -0 )

Surprised how many still buy into the trickle down and job creator myths that have been disproven time and time again by history. The results of this "incentivization" have been more stock buybacks, greater consolidization of industries, increasing centralization of capital to the .01% and stagnant wages and grotesque wealth disparity.

9 ( +10 / -1 )

Yep the stock market is already well on its way to full recovery and we haven’t even reopened yet. Other key indicators will come back as we reopen and get back to work.

liberals saying now that recovery will never happen. Then when it does it will be “of course i said it would” and “Orangemanbad had nothing to do with it”

-8 ( +1 / -9 )

“I'm not even referring to me, I'm referring to all of these people, including your people who have been working with my people so closely," he told Murphy. “But the federal government has done a spectacular job.

Trump once again equating himself with the federal government. The 'federal government' Trump's overseeing is definitely integral to economic recovery of any kind. And no doubt Trump and his admin will continue to personally profit. Corrupt businessmale, corrupt politician.

The Trump administration has brought its brand of corruption and self-dealing to every agency in the federal government,

https://prospect.org/mapping-corruption-interactive?fbclid=IwAR1wta6bdtGVApUjzfsBcGh6JBt7XuHvhyb9O6HooQaHwDl6tt2Wyz0Y8Zc

4 ( +4 / -0 )

And no doubt Trump and his admin will continue to personally profit. Corrupt businessmale, corrupt politician.

That old debunked myth again...lol

-15 ( +0 / -15 )

"I think sometimes what I feel is better than what I think, unfortunately or fortunately.”

Finally after the disinfectant comes the chastened chump reluctantly admitting he doesn't always have "the best thoughts", but his track record of 6 bankruptcies and other bizness failures don't inspire confidence in his "gut feelings" either. And he's no Nostradamus predicting that the number of corona cases will go down to zero, or that the economy will rebound. All this smoke and mirrors stuff and talking up future prospects comes from decades of Trump's huckstering and wheelin' 'n' dealin', but now the wheels are falling off his faux presidency as Trump skids on the reality of his incompetence.

4 ( +4 / -0 )

Yes but how long will it take. More like years and not months and well beyond the November election. The virus will still be with us after November but will Trump also be there?

Much great blow to the economy than the 2008 bank failures.

Where is all the promised financial support? Small businesses going bust. 30 million unemployed.

3 ( +4 / -1 )

That old debunked myth

Please refresh our memory: how was the myth that Trump makes money off his presidency debunked again?

I'll help you if you want, read this

https://www.politico.com/news/2020/01/20/trump-businesses-empire-tied-presidency-100496

And then debunk each point, please.

6 ( +6 / -0 )

I am getting sick of the drivel that escapes Trumps mouth. He really needs to shut up and go away. Worst US President EVER. Nothing can stop history from recording that fact.

As for Trump loyalists they remind me of Hitler loyalists who stuck with him even after he killed himself and Germany surrendered. You cant get through to them. They have nothing good in their lives so they clamp on to a mortal god like figure that is completely false, and they never let go.

Trump can not run a country. Trump makes bad calls on a daily basis and ignores facts and his own nations experts on almost every subject thinking he knows better than anyone. He can not admit to being wrong even when its obvious to a child.

Rock on November so we can all wave goodbye to Trump as he heads to prison for his many crimes.

Biden has a tough job ahead fixing America, he will need the Dems to have control of the Senate and the House to have any chance of correcting the many Trump errors. But I am sure he will responsibly open up America for business when it is safe to do so and then America will recover jobs and prosperity as well as getting back some credibility in the wider world. Looking ahead to no Trump in office is already making me feel much better about the future.

5 ( +7 / -2 )

Hey Trump people..Trump wants you to put ALL your money in US stocks.

You do realize that Democrats aren’t shy about giving carve outs and tax breaks to wealthy corporations too

Then Obama was a good president since he didn't "share the wealth". But obviously Obamacare is better than TrumpCare because look how Trump's public healthcare policy has resulted for injecting Mr. Clean.

2 ( +3 / -1 )

I did. and made more than 15% return this month.

Best month since 1987, according to the financial news.

Hey Trump people..Trump wants you to put ALL your money in US stocks.

-5 ( +2 / -7 )

The same guy who predicted the virus would be gone by April.

You just love the doom and gloom, dontcha?

I'm going with the spectacular rebound. It's gonna be glorious.

No wait, Joe Biden or his replacement is gonna get elected and put us back into misery...

No wait, I hate doom and gloom! Trump 2020 landslide all the way!

But obviously Obamacare is better than TrumpCare because look how Trump's public healthcare policy has resulted for injecting Mr. Clean.

Sure, just make up stuff and post it. Jeez...

-8 ( +0 / -8 )

Trying to dispel economic gloom, President Donald Trump said Thursday he’s anticipating a major rebound in the coming months and a “spectacular” 2021.

Hmmmm..... OK, if you think sharing a cell with your BFF Roger Stone at Rikers Island for your illegal Stormy payoff is spectacular...the NYSD Attorney still has that check signed in Black Sharpie and is just waiting to talk to "Individual-1"...

3 ( +4 / -1 )

trump selling another pipe dream to the rubes! He said early this year that he had a vaccine coming soon. He also said that the virus would disappear like magic.

Is he sprinkling some magic dust on the economy like the pandemic?

That old debunked myth again...lol

@Bass---Where is the proof? Please provide evidence!

3 ( +4 / -1 )

The Trump administration has brought its brand of corruption and self-dealing to every agency in the federal government,

@bass4fnThat old debunked myth again...lol

The report is not a myth. And I've yet to read it's been 'debunked'. If the info in the article has in fact been debunked or disproved or shown to be false in any way, a link would be appreciated.

2 ( +2 / -0 )

@Serrano

The same guy who predicted the virus would be gone by April.

You just love the doom and gloom, dontcha?

I'm going with the spectacular rebound. It's gonna be glorious.

No wait, Joe Biden or his replacement is gonna get elected and put us back into misery...

No wait, I hate doom and gloom! Trump 2020 landslide all the way!

But obviously Obamacare is better than TrumpCare because look how Trump's public healthcare policy has resulted for injecting Mr. Clean.

Sure, just make up stuff and post it. Jeez...

Not much of a logical argument from the trump supporters, today!

Just cheerleading, wishful thinking and reminiscing about the good ole' days......from 2019.

2 ( +3 / -1 )

I did. and made more than 15% return this month.

Are Trump people making up stories? The whole stock market has crashed but somehow they are richer? Which stock markets? Which mutual fund? Stocks are down overall under Trump. Because if that is true then I want to know which stocks and mutual funds so I can invest my money in these funds.

3 ( +4 / -1 )

no, stock markets are not down under Trump. Start with the basics first. check what the DOW was when Trump was elected, when he was inaugurated and what it is now.

start here.

The monthly rally for the Dow and S&P 500 would mark their best since 1987 and the best April since 1938, according to Dow Jones Market Data

https://www.marketwatch.com/story/after-a-blockbuster-april-for-the-dow-and-sp-500-is-sell-in-may-in-the-coronavirus-era-a-smart-strategy-2020-04-30

-7 ( +0 / -7 )

no, stock markets are not down under Trump

OK, I understand. When I look at the news about the crashed stock market and economy it's fake and that means that stocks are still up under Trump and the economy is doing great (best even, especially under the crash under President Hillary). Sorry, my bad. Please let me then which mutual funds and stocks are guaranteed Trump winners because I want to invest my money in those funds. I would like specifics. Like the Vanguard 500 Index Fund? I want to mimic the way Trump people manage their money because I want to be part of this winning investment. How about Procter & Gamble because they own Mr. Clean?

1 ( +2 / -1 )

no, stock markets are not down under Trump. Start with the basics first. check what the DOW was when Trump was elected, when he was inaugurated and what it is now.

Sure, brag about how great Trump has done....

When Obama left office, Jan 20, 2017, the Dow closed at 19,827. When he entered office, Jan 20, 2009, the Dow closed at 7,949. In other words, in his 8 years in office the Dow went up roughly 150%.

Trump? Dow today is at 24,345 - for over three years all he's managed is a measly 22% - and just two weeks ago it was 0%

The one true fact is that Trump has wrecked the economy - highest unemployment ever, most bankruptcies, falling GDP....and it's all outlined in black and white on Trump's own Dept of Labor and Dept of Commerce websites...

Read it and educate yourself...

4 ( +5 / -1 )

Uh no. you cant learn if you cant accept basic facts. The stock market is significant UP under Trump. thats just an indisputable fact.

How about Procter & Gamble because they own Mr. Clean?

-5 ( +0 / -5 )

nice goal post moving. This was the statement being addressed.

Stocks are down overall under Trump.

-4 ( +0 / -4 )

Yep and 1000 points of that was directly related to Trump being elected. remember how much it went up the next day?

Plus as you say, that was 8 years of Obama. Trump hasnt had 8 years (yet) and has been impacted by a pandemic, yet still has 22%. Unless you were silly enough to sell exactly 2 weeks ago, the 0% is irrelevant. if you bought 2 weeks ago, you made 10-15%. in 2 weeks.

I see you also decided to not mention that the Dow was previously at 29,348. and will exceed that again by end of summer.

When Obama left office, Jan 20, 2017, the Dow closed at 19,827.

-4 ( +0 / -4 )

Uh no. you cant learn if you cant accept basic facts.

No, I want to know what stocks and mutual funds are winners under the Trump economy. MSM says earnings have been wiped out under the Trump presidency. But Trump people are still making money in the stock market. I want to know how because I want to ride the Trump wave. What are the corporate winners? P&G is pretty much at 0% YTD even with Mr. Clean sales to inject into CV patients are Trump suggested. DJ is down YTD. What are some safe investments?

3 ( +3 / -0 )

I have nothing for you. Hire a guy. Obviously if the market is up 15% as a whole, there is 15% to be made. It isnt unreasonable to consider people could have made even more.

-4 ( +0 / -4 )

has been impacted by a pandemic

No, the Trump economy has not been impacted by the pandemic at all. That is fake news. The Trump stock market is smoking so much Trump suggests taking out extra mortgages in order to invest NOW. All those stock tickers that are reporting losses are just fake.

3 ( +3 / -0 )

keep avoiding those facts. I cant help you.

Amazon was 1907 on 4/1 and is 2474 now, 30 days later. it was as low as 1676 in March due to corona.

You cant tell me this economy isnt recovering.

-3 ( +1 / -4 )

I have nothing for you.

No, please let me know your guy. I want to hire your guy since you are making a killing on the stock market. Please advise us of your stock broker. I want to ride the Trump wave with Trump winning people.

Obviously if the market is up 15% as a whole

I want to know who your broker is? Please let us know so we can make this same return. But they don't include funds for ladders and shovels?

It isnt unreasonable to consider people could have made even more.

Yes, and we want to know basically where to start with our money. There is money to be made while Trump is president. May we have the name of your broker?

2 ( +2 / -0 )

Amazon was 1907 on 4/1 and is 2474 now

That's fake news. Remember Amazon is Trump's enemy (they own the Post). Amazon is way down. The tickers that indicate this are fake.

0 ( +2 / -2 )

I gave you an example and I am my own broker, obviously.

and no, if you hate Trump you shouldnt participate in the gains that his economic policy and recovery bring. Orangemanbad! you wouldnt be able to live with yourself if his policies positively impacted you.

-4 ( +1 / -5 )

The rebound is gonna be yuuuuge. It's gonna be beautiful.

2 ( +2 / -0 )

Yep and 1000 points of that was directly related to Trump being elected. remember how much it went up the next day?

And remember how much it crashed on Mar 16 2020....almost 3.000 points. Who was President then?

Plus as you say, that was 8 years of Obama. Trump hasnt had 8 years (yet) and has been impacted by a pandemic, yet still has 22%. Unless you were silly enough to sell exactly 2 weeks ago, the 0% is irrelevant. if you bought 2 weeks ago, you made 10-15%. in 2 weeks.

Sure, if you bought Clorox and Lysol stock... Facts are facts, During President Obama's term the market went up 150%, under Trump so far only 22% - and it was down to zero. That's called failing. If you're not sure what that is, look up "bankruptcy". If you're not sure what that is, look up "Trump Atlantic City Taj Mahal and Casino"...

I see you also decided to not mention that the Dow was previously at 29,348. and will exceed that again by end of summer.

Operative word: ""was".... And if you think that will be repeated, I have some Chinese-made Trump ties to sell you...

2 ( +2 / -0 )

I gave you an example and I am my own broker, obviously.

No, you should become a broker yourself. I would personally hire and and you can make a lot of money from commissions I pay to you and I will introduce you to all my friends. You can make a killing if you can sell the Trump fund.

if you hate Trump

No, I love Trump because I want to be able to make money under his presidency. Why would I hate someone who can make me money. But dead wrong on Amazon. Remember Bezos (and the fake news Post) is Trump's enemy they and their stock is way down. CNN is lying about that stock price. As you said those who hate Trump lose bad.

1 ( +2 / -1 )

Please keep resisting Trump so you can claim he has done nothing positive for you

I'm not, I said I would use you are my stock broker. That is a business proposal because I want you to help me make money. What is negative about that?

1 ( +2 / -1 )

And remember how much it crashed on Mar 16 2020....almost 3.000 points. Who was President then?

And remember who the President is when they completely open up and turn this economic engine on again.

-5 ( +0 / -5 )

so the market will not exceed 29,348 until when? you are saying it never will, ever?

Operative word: ""was".... And if you think that will be repeated, I have some Chinese-made Trump ties to sell you...

-3 ( +0 / -3 )

When Obama left office, Jan 20, 2017, the Dow closed at 19,827. When he entered office, Jan 20, 2009, the Dow closed at 7,949. In other words, in his 8 years in office the Dow went up roughly 150%

Paper hat jobs and he dealt with the Coronavirus as well?

-5 ( +0 / -5 )

And remember how much it crashed on Mar 16 2020....almost 3.000 points. Who was President then?

And remember who the President is when they completely open up and turn this economic engine on again.

Oh I will - just like when Clinton and Obama had to turn around Repub administration economic disasters, Biden will do the same - with the help of a Nancy and Chuck - Dem majority Leaders in the House and Senate...

And Donnie will be in a bunk beside Stone at Rikers Island and Mitch will be on he board of one Elaine's relatives Chinese companies...

1 ( +1 / -0 )

 I wouldnt want you to prosper from the economic policy of someone you hate so much.

As long as I make money why would I hate Trump? You love Trump since he's making you money and so can I? Then you are a stock broker. Which organization do you work for? You don't want commissions?

1 ( +1 / -0 )

best.market.month.since.1987

THE END.

-3 ( +0 / -3 )

THE END.

If your Trump investments were down would you still like Trump? Obviously your Obama funds were down which explains your hatred for Obama.

1 ( +1 / -0 )

Paper hat jobs and he dealt with the Coronavirus as well?

Like in the beginning Trump said the virus was nothing.

Then he said it would all be over by Easter.

Then he said.....

The pandemic won't be over until the fat vaccine sings.

1 ( +1 / -0 )

THE END.

That's what 58K Americans (so far) have said...like the economy, another thing our President is responsible for - right?

2 ( +2 / -0 )

The rebound is gonna be yuuuuge. It's gonna be beautiful.

Yuuuge especially for the corporations making robotic equipment and machines to replace workers.

How much of the bailout moneys corporations are getting from taxpayers (aka welfare/socialism for the rich) will be allocated to new equipment to replace workers.

How much of the bailout money will be skimmed by execs for their personal bonuses. How much of the bonus will be used to buy island property - outside the US.

How much of the bailout money will be put in offshore accounts.

1 ( +1 / -0 )

best.market.month.since.1987

THE END.

Which is cold comfort in the time of corona for 99% of the American people. Heck, some folk made a tremendous killing on Wall St. when 9/11 happened, and wars always earn handsome profits for a minority. As the Bard of Minnesota sang, "Money doesn't talk, it swears".

2 ( +2 / -0 )

The economy is the only miracle weapon Trump has in his box (and most of that economic good fortune has been because Trump lucked out in following Obama) to get himself re-elected. Take the economy away, and what has Trump got? Not much, so he's obviously quite nervous.

2 ( +2 / -0 )

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