Wall Street is staring at a mirage. Last week it rose wildly mainly because of hype generated by the $2 trillion plan approved by congress amid increasing number of coronavirus cases in the US, about three million filling for unemployment and with the certainty that the worst news are yet to come. May be on Friday they began the foresee with realistic eyes when the Dow settled about 700 points lower. This goes for skeptics too, the market hasn’t hit a bottom.
The US coronavirus response has been certainly poor and catastrophic, with multiple Americans who can’t seek medical aid nor Covid-19 tests. The world’s biggest economy hasn’t grasped the reality yet. This $2 trillion plan will just help in the short term. A poor health system is the biggest underlaying menace to America.
No comments:
Post a Comment