The leftwing ideology poses a bigger threat to the economy than the rampant coronavirus, Larry Kudlow, the economic adviser to Donald Trump, told the Conservative Political Action Conference (CPAC).
“The virus is not going to sink the American economy,” he said at the National Harbor near Washington. “What is, or could, sink the American economy is the socialism coming from our friends on the other side of the aisle. That’s the biggest fear that I have today.”
Current best guesses are that coronavirus will shave a couple of percentage points off US GP – maybe – and what, 10 to 15%, short term, off share prices?
At least one reasonably sensible estimation of Bernie’s policy choices says 25% off US GDP (no, not a counter factual, rather 25% off today’s) and a 50% fall in the stock market.
One, t’is bigger than t’other.