US Economy Is Collapsing In June, It’s The Virus, Mo Ron

The data shows that the US economy has been weakening sharply since the beginning of June. That follows May’s dead cat bounce, which Dear Leader Trump and Wall Street had all touted as recovery. Uh… no.

Obviously, I think there’s a tie between this downturn and the curve of COVID-19 infections. They are getting much worse in the 3 most populous states, California, Texas, and Florida, and in the Southeast, Southwest and other central and western states. And this is before the second wave hits the Northeast and Midwest, which have managed to get their outbreaks under control for now.

The national totals are beginning to rise as a result of the trends in these states. Unfortunately, as the case numbers rise in the rest of the country, lockdowns are gradually being lifted in the states that managed to suppress the virus.

No doubt, those states will also begin seeing their cases trend up in a second wave of viral spread. Americans travel freely. They will bring the virus back from areas where case numbers are growing rapidly, particularly from the Trump COVID-19 2020 Superspreader Rallies. The first of those is being held in Oklahoma today (Saturday, June 20), where case numbers have also recently begun to surge.

Those superspreaders will return home to infect fellow Trump fans in a self-culling of the herd. Without effective social countermeasures, the exponential spread of the virus will kill both Trump’s base, and the US economy. The tax data is telling us that the latter is already starting to happen.

Now maybe I’m wrong, and next week we’ll see a strong enough rebound in tax collections to reverse the trend. I doubt it, but I want to read the data, not argue with it. So even though it’s definitely getting worse now, I’ll keep an open mind about next week.

At first, the blue states in the East had their turn at the initial massive surge in cases and deaths. They locked down and it killed the economy, but they were successful at driving the case numbers down to very low levels.

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