An Independent view of law, politics and social issues confronting Angelinos, Californians, and Americans
We’ve been to three super markets and Costco in the past seven days. People are in panic mode as they buy bulk quantities of water, paper goods, fruits and vegetables, meat and many other items as if there are or will be shortages. The lines are long as their shopping carts are filled to the brim.
Today we called three markets to find ground beef.
The government has failed to assure the public that there should be no fear that the things they need will not be in short supply.
This is the presentation that the president should have made on Wednesday March 11. The comparison between Trump’s presentatation and this Biden presentation should cause all Americans to wonder why we chose Donald Trump to lead this country. The question we should be asking is “Who can best lead this country in a national emergency?”
Are you reassured?
I’m not. This was not a speech of reassurance like George W. Bush’s speech after 9-11 nor was this a speech of the kind given by Winston Churchill as England was under attack by the Germans nor FDR after the bombing of Pearl Harbor. Nothing up lifting at all. It was a speech read from a teleprompter in which Trump seemed more concerned with the economics of this country than the health of its citizens.
There was not a word about the development of a medicine to cure the disease nor was there any words about the development of a vaccine. The President did not mention, for example, the shortage of testing kits, which means officials cannot even get a strong read on how far the disease has spread across the nation. Instead the government will close travel from Europe for 30 days.
Well maybe I am wrong. Here is the YouTube posting of his speech.
A very smart effort to unify the Democratic Party for what will be a very tough election campaign. Support from Sanders’ passionate supporters is necessary.
My dog is concerned with my health. He’s just returning my love for him.
Former Vice President Joe Biden is the likely Democratic Party nominee. That will result in a second term for Donald Trump.
The reason for that outcome is the fact that Joe Biden is: 1) a replica of Hilary Clinton. Clinton offered no reason to elect her while Trump offered many plans. 2) Biden is a terrible campaigner who stumbles repeatedly at his rallies. Biden’s staff has kept him hidden from most television interviews. His appearance on The View was light on tough questions. The View ladies did not ask one serious question. Instead they had Biden’s wife appear with him. Chuck Todd’s Meet the Press interview on March 1 of similarly light on serious issues.
The only thing that can derail Trump’s re-election is a serious recession or his mishandling of the coronavirus epidemic.
Trump’s dream of becoming America’s first king has never been closer.
The community of Calabasas has eclipsed Beverly Hills in Bloomberg’s annual ranking of the richest cities in the United States. The average household income in Calabasas is $194,010, more than twice the national average – and about $4,000 higher than Beverly Hills. Calabasas actually has fewer residents than Beverly Hills, checking in at a little over 24,000 compared to Beverly Hills’ 34,600. The Calabasas Country Club cites the “celebrity factor” as a reason to live there. Celebrities such as the Kardashians, Drake, Will Smith, Katie Holmes and Justin Bieber have all called Calabasas home. Currently at least 20 entertainment celebrities live in Calabasas.
Bloomberg reported Zillow states the median home price in Calabasas is $1.19 million, while it’s $2.76 million in Beverly Hills. “What you pay $20 million for in Hidden Hills you’re going to have to pay $50 million in Holmby Hills,” said Tomer Fridman, a luxury real estate agent who works with the Kardashians. The most expensive listing in Calabasas according to the report is a $32 million mansion in The Oaks gated community within another gated community.
Yes, you go through two gates to reach some homes. First you pass by the gate house where you provide identification before the gate is opened. The guard will provide a passcode to open the second gate that is located another mile down the road.
Saturday Night Live intro skits are always fun to watch. Darrel Hammond’s impersonation of Chris Matthews was so real I actually thought he was Chris Matthews. Elizabeth Warren’s appearance on the program says she has the ability to move on and laugh.
Cable news channels have been running talk about the coronavirus continuously. This is the best example of “yellow journalism.” It was William Randolph Hearst who propelled America into the Spanish American War.
Blind panic has definitely taken control Southern California. Costco warehouses have had a run on their water and toilet paper supplies. My local store had no bottles water, no toilet paper and no paper towels. NONE! It was not just my local outlet. News media reported that Costco’s stores throughout the Los Angeles area were experiencing the same phenomena.
There is no doubt that corona virus is a frightening disease but Americans are becoming paranoid. As of the latest information the national deaths from this disease is 17. Of course every life matters but the numbers are too small to call this situation anything more than a serious problem.
The sky is not falling. Reasonable precautions will probably contain this disease. There is no doubt that Donald Trump has added to the confusion. Trump calling the governor of Washington State a snake, accusing the World Health Organization of dispensing inaccurate facts about the outbreak, and suggesting that those with the disease could be safe going to work only adds to the chaos.
What is needed today is a calming voice. Too bad the president has not taken on the assignment. Neither of the leading Democratic candidates have not taken on the opportunity for one reason. They don’t want to help the president. They want him to drown in the panic.
The politics of mismanagement should be the headline of the day. Donald Trump does not understand how markets function but is living in fear that the United States is heading into a recession as we approach an election. Fed chair Jerome Powell seems more inclined to do Trump’s bidding then do the right thing. The right thing is do nothing. I’ve not sold any of my stocks. Panic just results in losses. I believe the country will survive. It’s Trump who is in a panic!
The stock market’s reaction to the coronavirus is big news. Dow Jones Industrial Average had largest point decline in the history of the index! The S&P 500 had dropped more than 11% from Monday through Friday, which made for its biggest weekly decline since the 2008 financial crash.
Last week’s showing was indeed rare. The final week of February 2020 rates as the third- worst Monday-through-Friday by performance by the S&P 500 since 1976.
So the Fed reacting to what it believes will be a harsh condemnation by President Trump slashed interested rates by a half of a percentage point.
But the market seemed to understand that there is the expectation of a recession and that concern has resulted in another 800 point drop in the Dow Jones Industrial Average. A drop of more than 3%.
If this drop in the stock market is a signal for a coming recession the answer to support the economy will have to be federal stimulus like infrastructure projects and perhaps a temporary reduction in payroll taxes. I doubt the Democrats will do either before the election. After all they will see a recession as an opportunity to win both the presidency and the senate.
Coast Contact 