John Hinderaker’s post highlights why the markets’ volatility is likely overstated. In his post, John touches on something noteworthy when he writes “The virus has demonstrated that President Trump was right all along: outsourcing a huge percentage of our manufacturing capacity to China was dumb. It was especially dumb with regard to pharmaceuticals. But with regard to any non-trinket product, China’s low wage rates are at best a dubious trade-off against low productivity, low quality–I could write a book about this–transportation costs, and unforeseeable disruptions associated with a primitive and autocratic society, like coronavirus. The trend toward bringing manufacturing back to the U.S. was already underway, but it will accelerate and become permanent as a result of the coronavirus.”

First, I hope John writes that book. I’d be one of the first to purchase it. Next, and this is important, it’s imperative that we bring back pharmaceutical manufacturing to the US. Putting our public health supply chains at risk is foolish when we have the capacity and capability to meet our needs. Relying on communist dictatorships for public health supplies leaves us potentially vulnerable.

When this virus is history, and it’s a matter of when, not if, the US economy will jump back to its strong self. At that point, or perhaps sooner, it’s important to ask some important long-term questions.

First, other than the partisans, does anyone seriously think that Bernie Sanders or Joe Biden’s economic policies would produce better economic growth than what we’ve just experienced? Sanders thinks that breadlines are a net positive while Biden thinks that China is a friendly rival. What part of that sounds smart?

That’s what Biden said 6 months ago. In the mental shape he’s in right now, who knows what he thinks of China? Who knows if he thinks of China? We’re going to turn over a robust economy to someone in that fragile mental state? Not if I can help it.

It’s time for Republicans to stop panicking over the what ifs of the economy. Today, President Trump, Secretary Mnuchin and Larry Kudlow will make a presentation for a stimulus package. Instead of modelling it like President Obama’s stimulus, which failed totally, President Trump’s stimulus will strengthen the economy.

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