The President’s Address on SARS-COV-2

President Trump’s announcement today was well received by Wall Street. It was a good production and I think it went a long way to alleviate fear concerning the pandemic. What did I take away:

1. The show of support and cooperation from corporate America for manufacture and distribution of testing sites was very good.
2. The support of corporate America to restock the supply chain was good but specifics were not given.
3. Putting the country in a state of emergency was downplayed except for the ability to streamline aid and print more money.
4. The shoring up of the oil industry was a red herring. Topping off the Strategic Petroleum Reserve will give the country just under 5 more days of gasoline. Since we are energy independent, this was a means to support the price of oil.
5. The specifics of new legislation from Nancy Pelosi were not ready at the time of the announcement. Here is the first release of details released later.
6. Dr. Fauci stated that with these new testing measures, he hopes that the virus will burn itself out in 8-9 weeks.
7. President Trump bypassed the Deep State CDC in order to initiate action to address the pandemic.

I give the President high marks for this round. I pray that he pulls a rabbit out of a proverbial hat for his next announcement since nothing was mentioned that would help alleviate the impact of the virus. If the supply chain is not restored in a timely fashion (4 weeks?), what will be the impact on the economy?

Although I feel better after the announcement, the bottom line is still the same: we are facing a national pandemic which will have a large number of deaths. I know that fear and ignorance are our worst enemies in this fight. I pray that we have the necessary faith to learn and grow from this lesson.

David DeGerolamo

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