In the U.S. there are two streets, Main Street and Wall Street.
On Main Street there were 160,000 deaths due to the failure of leadership by Trump over the coronavirus. Trump’s response to the statistics was “It is what it is.” The new UW Health Institute model projection is that there will be 295,000 coronavirus deaths in the U.S. by December 1, 2020. While unemployed workers are facing the threat of eviction, Ivanka Trump is telling them in her White House campaign to go “Find Something New.” Talk about being tone deaf to the pain of the American people.
The lack of leadership by Trump has had a catastrophic economic impact on Main Street. The U.S. economy suffered its worst period ever in the second quarter of 2020, with GDP falling a historic 32.9%. Neither the Great Depression nor the Great Recession have ever caused such a sharp drain on the U.S. economy.
Meanwhile, on Wall Street things are simply fine. For now, the stock market and S&P are stable. America’s billionaires saw their fortunes soar by $434 billion during the U.S. lockdown between mid-March and mid-May, according to a new report. The Republican Party is the huge supporter of Wall Street and the failed strategy of ‘trickle-down economics.” The key Trump strategist supporting Wall Street is Secretary of the Treasury Steven Mnuchin who worked for Goldman Sachs for 17 years.
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