American economic analyst: A dark financial future awaits the United States because of Corona
15:55 - 22/03/2020
Information / translation ...
US economic analyst Charles Dunway confirmed that the recent downturn in the US stock market was "inevitable", noting that the country has a "grim" financial future amid the worsening Corona virus.
The Press TV channel quoted in an interview translated by the information agency, Danway, saying that "Wall Street indices fell at the opening, where the Down Jones index fell forty eight thousand or forty-four points or 4.94 percent at the opening, while the Standard & Poor's index fell 92.62 points as The Nasdaq index fell 432.47 points at the opening.
He added, "This comes at a time when the increasing signs of destroying Corona virus overshadow optimism among American companies regarding the official and wide-ranging moves to protect the economy." “The recession indicates investor lacks optimism about the positive effects of a potentially massive US government stimulus,” market analysts say.
He continued, “The financial future of the United States at this stage is somewhat dark, at least in the short term, for some reasons, including that we have, through large trade agreements, globalized our supply chain, and there has been a loss of manufacturing capacity within the United States with the corresponding Loss of jobs and loss of manufacturing skills. ”
And he continued, "Another reason is wasting an enormous amount of our resources on the army in an attempt to be the world's police and to be the dominant force and we are wasting a trillion dollars a year or more on the army and we do not get anything of value to the economy as a result."
He pointed out that "among other reasons is the extreme polarity in our political life where we have two groups that have almost completely different views, different sets of facts, and different media sources, and it will be very difficult to reconcile that." Ended / 25 z