By Jon Dougherty
(TNS) Democrats and their propagandists in the ‘mainstream media’ obviously believe they have finally found an issue — ‘coronavirus’ — that will ‘hurt’ President Donald Trump ahead of a 2020 election in which their party will nominate a candidate with obvious mental health issues.
And while they are beating the coronavirus drum like their political lives depend on it, reality favors the president. Again.
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After shedding nearly 8 percent of its value Monday, the Dow Jones Industrial Average opened Tuesday morning with a 1,000-point surge, followed by other indices, after Trump announced plans to introduce tax breaks and other measures aimed at blunting the economic red ink that is also being exploited by Democrats and their shark media.
Stock futures rallied back early Tuesday morning after the S&P 500â€²s worst day since the financial crisis as investors cheered potential stimulative measures to stem the economic downturn from the coronavirus.
Around 7 a.m. ET Tuesday, futures on theÂ Dow Jones Industrial AverageÂ indicated an opening surge of 1,079 points on Tuesday.Â S&P 500Â futures and Nasdaq 100 futures also pointed to a sharply higher open for the two indexes on Tuesday. S&P 500 futures were up 5% earlier in the session, reaching their upside limit.
President Donald Trump floated on Monday the idea of â€œaÂ payroll tax cut or reliefâ€Â to offset the negative impact from the coronavirus.Â The potential tax incentives come on top of an $8.3 billion spending package Trump signed last month.
Meanwhile, oil prices — theÂ real reason behind Monday’s massive market plunge, triggered by dramatic price cuts in Saudi Arabia, which seeks to recapture much of the market — also rebounded somewhat, adding nearly 9 percent and rising to around $34 a barrel by mid-morning.
As we noted yesterday, the temporary shock to the markets brought on by the Saudis’ oil price manipulation is a geopolitical move to drive down Russian and Iranian oil production — as explained by conservative talker Rush Limbaugh:
But what is happening with the stock market today is 85% this. It is the crown prince of Saudi Arabia declaring open warfare on Russia involving the price of oil and the flow of oil, the free flow of oil at market prices is what this is all about. And the crown prince of Saudi Arabia, heâ€™s taking advantage of the fact that theyâ€™ve got more oil than they know what to do with.
Yet, clearly there is an effort by the Left to talk this into a ‘coronavirus’ slump so it can destroy a significant amount of the economy built by Trump and Republicans in time for Democrats to find some way to narrowly slip figurehead president Joe Biden into the Oval Office.
Consider: So far, the only states to declare ‘coronavirus emergencies’ are run by Left-wing hacks who have no love lost for this president or his policies (especially regarding immigration, the holy grail of future Democratic power). Washington state, New York and, yesterday, Oregon — withÂ only 14 known cases at the time — have all declared emergencies though clearly there isn’t one when it comes toÂ this particular outbreak.
The CDC’s numbers tell the story.
USA Features News reports:
Figures released Monday by the Centers for Disease Control and Prevention in an effort to calm jitters over the coronavirus note that this yearâ€™s flu season has been far worse, resulting in thousands of deaths including more children than normal.
According to theÂ most recent reportÂ from the Centers for Disease Control (CDC), among the roughly 34 million people who have suffered from the flu this season, 20,000 have died.
Influenza A viruses were the most commonly reported, as opposed to the usual predominance of Influenza B, and there have been 136 recorded deaths of children.
The CDC noted that â€œrates among school aged children and young adults are higher at this time than in recent seasons and rates among children 0-4 years old are now the highest CDC has on record at this point in the season, surpassing rates reported during the second wave of the 2009 H1N1 pandemic.â€
According to the latest info at this moment, there have been just 729 cases of the virus diagnosed in the U.S., and 29 deaths — most of which have been older Americans and those with preexisting conditions.
In other words, the same population of Americans vulnerable to the regular flu.
Now, we don’t know about you, but it sure seems to us that coronavirus is a lot of things exceptÂ a planet-ending emergency.
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Meanwhile still, on the ground where the actual progress against coronavirus is being made, there is acknowledgement — even from political enemies of this president — that he and his administration are doing the right things.
We bring you California Gov. Gavin Newsom:
This is so REFRESHING.
It makes me feel like we are one country and I haven’t felt like that for a long time.
— Steph (@steph93065) March 10, 2020
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End of session update: By the end of Tuesday, the DJIA finished up 1167.24, or 4.8 percent; the S&P 500 up 135.67, or 4.4 percent; the Nasdaq rose 393.58, or 4.95 percent; and crude oil rose more than 10 percent to close at 34.57 a barrel.