Trump ignores Fed Chair and economic reality, tanks stimulus and any recovery we had

I noticed the DOW was up around 150-200 points early this afternoon, for some type of Wall Street "optimism" that had little to do with the tens of milions of people still out of work in this coountry. Then I did some more work.

I checked back around 215 pm, and saw this.

I had a good guess as to why, and I was right.

Stocks dive after Trump pulls plug on stimulus talks https://t.co/Aofs5MheN8

— CBS News (@CBSNews) October 6, 2020

This dumbass thinks that jamming through a justice onto SCOTUS is more important to people than trying to stay afloat in a time of near-8% unemployment. Even more amazing, Trump's strategy to come back from his double-digit deficit is to tell voters "vote for me or you get nothing."

Sen. Warren doesn't think that'll work, Donnie. And neither do I.

I’m sure that everyone who is sick, out of work, going hungry, losing their homes, shuttering small businesses, or struggling in a zillion other ways during this pandemic is thrilled that you are hard at work to steal a Supreme Court seat for rich and powerful extremists. pic.twitter.com/NtPkz0hrvo

— Elizabeth Warren (@SenWarren) October 6, 2020

It's even more remarkable to see Trump decide to bail on stimulus just 3 days after Trump tweeted from his hospital bed that "America wants and needs stimulus." And it was a few hours after the Fed Chair that Trump selected also said there should be more stimulus.

"Too little support would lead to a weak recovery, creating unnecessary hardship for households and businesses," [Federal Reserve Chair Jay] Powell said in a speech delivered to an economic conference. A too-slow recovery would also exacerbate existing inequalities, Powell said, which would be "tragic."

The Fed chairman has consistently urged Congress to put more money into the recovery, but the remarks on Tuesday are some of his bluntest to date.

Powell said that government support — including expanded unemployment insurance payments, direct payments to most U.S. households and financial support for small businesses — has so far prevented a recessionary "downward spiral" in which job losses would reduce spending, forcing businesses to cut even more jobs.

But without further support those downward trends could still emerge, the chairman said, noting that "weakness feeds on weakness."

Let me remind you that we stil have a significant gap in jobs and spending in many parts of the economy, particularly the services side. And gains were already leveling off in August and September.

I don't want to speak too soon on this, since the election is still 4 weeks away, but Trump/GOP refusing to sign onto stimulus seems to be the act of a group of people who know they're not going to be in power as of January. So they want to wreck things as much as possible and handcuff the incoming Biden Administration and Dem Congress, and the GOPs don't care how many Americans are hurt and/or killed due to their negligence and arrogance. Speaker Nancy Pelosi and other House Dems should head home. Because the GOPs aren't being serious about our diminished economy, and there's no need to get dragged down into their pathetic games.

The GOP needs to be cast out in the wilderness for 20 years. Not 2, but 20, and not just in the White House, but in Congress and state houses as well. It's the only way Republicans will ever return to being a party interested in governing and improving the well-being of this state and this country.