The stability of the global economy now depends on Trump's attention span - Business Insider

Opinion | The stability of the global economy now depends on Trump's attention span. By @lopezlinette

8/7/2020 3:38:00 PM

Opinion | The stability of the global economy now depends on Trump's attention span. By lopezlinette

Business Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.

Mark Wilson/Getty ImagesNegotiations for the coronavirus aid bill are now ongoing between Democrats and the White House. So, that means the entire global economy depends on whether or not Donald Trump can keep his eye on the ball.The "ball" in this case is continued aid to the world's biggest consumer, US citizens. 

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This should be a no brainer. Economists of all stripes are saying that benefits must continue to ensure stability as long as the coronavirus is keeping businesses closed and people in the homes.But Trump doesn't care what economists say, so he could easily throw a tantrum over something silly — like $1.8 billion for a new FBI building — and send the economy into a tailspin.

This is an opinion column. The thoughts expressed are those of the author.Visit Business Insider's homepage for more stories.Now that coronavirus aid bill have moved from discussions between Senate Republicans to negotiations between the White House and Democrats, the stability of the global economy depends on Donald Trump's attention span.

Aseconomists often say:"when America sneezes, the world catches a cold." That means when US economy hurts, the global economy hurts too. Right now pretty much every economist across the board is saying that delaying aid to Americans suffering through the coronavirus pandemic will significantly weaken our economy, and that puts the world at risk.

This worry about delayed aid goes especially for the extra $600 the federal government has been tacking on to people's weekly unemployment checks. Over at Moody's, economist Mark Zandithat failing to continue those payments could result in 1.1 million lost jobs by the end of the year. 

I could go on, so I will:Economists at Evercore ISI, an investment bank,that discontinuing the payments could decrease US GDP by 2% by the end of the year.Morning Consult's chief economistfoundthat 5.4 millions will be insolvent by the end of August, and a total of 9 million will be insolvent by the end of September if the payments aren't continued. 

Conversely, The Economic Policy Institute estimates that keeping the payments through the middle of 2021 would provide a quarterly GDP boost of 3.7% Read more: Business Insider »

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Unemployed during coronavirus pandemic: Business Insider survey - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Well Good Evening, check me out then Work at a university. So yup. Unemployed. And they are clueless how to reopen so far.

Democrats pitch bill for Fed to fight racial inequity in US economy - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. If there's things that can be done, I'm all for it. But the risk-benefit scenario for lenders based on their customer's ability and likelihood to repay seems to be the primary driver here. Lmao.....no.

Trump says mail-in voting will cause fraud but he'll still win election - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Not wrong. He votes via mail in voting but everyone else shouldn't! He knows his days are limited and prison awaits him! So do we know or not?

No, Donald Trump can't 'ban' TikTok - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Curious tweet realDonaldTrump WhiteHouse Hello~. 저의 트윗, 봐 주셔서 감사합니다. And he can't get a 'cut' from the sale since he really isn't Al Capone selling bootleg whiskey. But he acts like it! lol.

GOP lawyer who represented Trump campaign helping Kanye West - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. They are assuming Kayne West absorbs some of the progressive and black vote? Just a guess, but seems plausible. I can tell you what blocks of voters won't pull the lever for West. Trump is so racist he thinks Kayne will pull in the black vote. Lol. Republicans don’t care about black people or mental illness. Remember that America.