If you were looking to stock up on doom and gloom, now is the time. There is plenty of those sort of sentiments going around these days.
And you can’t blame people for feeling a little blue. We are, after all, in the middle of a unique global pandemic in which our only weapon against our enemy is the distance that we can put between one another. We must starve this beast, but doing so will require a major economic pause.
The government stimulus thus far has been mediocre at best, and hasn’t even arrived for many Americans as of yet. There will need to be more, and lots of it, to prevent an ugly situation on Main Street of middle class America.
But there is a light at the end of this tunnel, and President Trump isn’t afraid to talk about it.
President Trump on Thursday predicted a “big bounce” as he argued the U.S. economy will recover quickly from the massive hit it has taken because of the coronavirus pandemic — despite 16.8 million Americans losing their jobs in just the last three weeks.
As he teased possible deals to help out the ailing airline industry and help oil prices recover, Trump said he was confident that the flagging U.S. economy would come back from the drubbing taken since it was effectively shut down from the current pandemic.
“The economy is just going to do very well,” Trump said at the daily coronavirus taskforce briefing at the White House. “I think we’re going to have a big bounce…we’re going to open up very strong.”
Some believe that the President’s take may be a bit optimistic, especially as the unemployment figures begin to trickle in, demonstrating the scope of what has occurred over the course of the last few weeks.