You could argue trump’s response maybe made the markets slightly worse but blaming the covid market crash on American stupidity seems pretty far fetched.
The markets went down early on as everything everywhere shut down, then I don’t think had another sustained run of losses? And while trump didn’t do great at the response, his ineptitude didn’t really shine through until after the initial closures etc.
That’s not to say the market is all that matters and I think his lack of response killed many people, it doesn’t seem to have moved markets. (Darkly ironic, as most of the deaths were among senior citizens who have a low propensity to spend, you might perversely argue more seniors deaths led to a redistribution of wealth towards those with a higher marginal propensity to spend thus helping the markets. Obviously super immoral/evil but again, in terms of the markets…)
I’m going for accuracy.
You could argue trump’s response maybe made the markets slightly worse but blaming the covid market crash on American stupidity seems pretty far fetched.
I would argue his actions and response (or lack thereof) severely exacerbated the pandemic and resultant market downturn.
The thing though, is that while the average person suffered, the market actually rebounded pretty quickly from covid.
Are there data to support this argument though?
The markets went down early on as everything everywhere shut down, then I don’t think had another sustained run of losses? And while trump didn’t do great at the response, his ineptitude didn’t really shine through until after the initial closures etc.
That’s not to say the market is all that matters and I think his lack of response killed many people, it doesn’t seem to have moved markets. (Darkly ironic, as most of the deaths were among senior citizens who have a low propensity to spend, you might perversely argue more seniors deaths led to a redistribution of wealth towards those with a higher marginal propensity to spend thus helping the markets. Obviously super immoral/evil but again, in terms of the markets…)