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The American System

Feb 2020

February 24, 2020

February 25, 2020

Dow Closes Down Almost 1,000 Points In Worst Stock Market Day In Two Years; Europe Down About 4%; Wall Street Calamity Triggered By Explosion Of Coronavirus In Italy, Iran, And South Korea; World Health Organization Still Refuses To Declare This The Belt And Road Pandemic: Is WHO Leadership Bought Off By Xi?; Trump Dons Rose-Colored Glasses, Stalls On Informing US Public Because He Fears Costly Backlash From Chinese Communists;

Carnival Of Venice Shuts Down Two Days Early; Multi-Person Gatherings Banned; Areas Around Milan Suburb Of Lodi Quarantined By 500 Health Officers; 50 Deaths Revealed In Qom, Iran; Daegu Is Epicenter Of Outbreak In South Korea;

Harbinger Of Today’s Market Dive Came Last Thursday Morning, When Mini-Flash Crash Of Dow Fell 335 Points In 30 Minutes; Foreign Governments Lighten Up On US Treasuries, Which Are Nevertheless Driven To All-Time High Prices And Low Yields By Flight To Safety In Face Of Great Coronavirus Fears;

Trump Gang Loves To Cite Average Nominal Wage Increase Of Almost Eight Per Cent Over First Three Years Of Don’s Regime; But They Ignore Far More Meaningful Average Hourly Earnings Hike of Just 0,42% When Expressed In Constant Dollars Adjusted For Inflation; Value Of Fringe Benefits Like Health Care And Pension Plans Plummets By 1,7%; Big Picture Is That Employee Compensation Has Fallen By 4,33% Under Trump, Despite Trillions Of Stimulus!