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The idea that a public health crisis like #coronavirus would not result in a financial crisis in a country where personal consumption provides 70% of our GDP is the kind of brutal stupidity that typifies American economic policy <THREAD>
This segment begins, "What is going on, is the question, quite simply, that a lot of people who aren't sophisticated about the market are asking." Never mind that "sophistication" about the market, the commodity that experts are selling, is as worthless as Lehman Bros stock...
I'll tell you what's going on in a nutshell: when the long-term unsustainable rhythm of consumer spending is disrupted, the flow of money upon which debt-ridden capitalist enterprises depends causes a worrying interruption in the pyramidal flow of money from the bottom to the top
But by all means, let's hear what proud Deutsche Bank alumna @SRuhle has to say from her perch atop Market Sophistication Mountain about why Trump is to blame, as opposed to the wise and gentle brahmins running The Real Economy roughshod over the poor...
According to @SRuhle, "This is the first time in this administration that you've seen corporate America business leaders turn their back on the president." Here he is literally shaking hands w/CEOs of the largest medical and pharmacy concerns yesterday
Just as #coronavirus tends to kill those with underlying health problems, the financial #coronapocalypse kills economies with underlying fundamental weaknesses. See if you can spot the underlying problem in this segment (and who @SRuhle thinks are "everyday Americans")
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