President Donald Trump just confirmed the rumors at a White House press conference. It is not happening and millions of Americans across the country are stunned.
Speaking to reporters, Trump touted a V-shaped economic recovery — thereby ruling out a gradual U-shaped recovery — as the nation bounces back from the COVID-19 pandemic.
“We had to turn off the economy,” said Trump. “Now we are turning it back on, and that’s going to be very strong.” In fact, the evidence that this is occurring already is apparent.
Now, in a V-shaped recovery, an economy sees a sharp decline — marked by a sudden loss in productivity, capital, and jobs — and then it quickly recovers, shooting up like a rocket.
“The stock market rebound signals a v-shape recovery,” said Trump pointing to a chart. He also noted a jobs “boom” that added nearly 10 million jobs in a matter of weeks. This is welcome news.
Of course, Joe Biden and his newly-minted running mate, Senator Kamala Harris (D-CA), are going to spend the next few months trying to explain away our nation’s economic upturn — but Americans know better.
Read the full story here.