Chinese researchers discovered the Covid-19 virus, also known as the Wuhan coronavirus, can live on surfaces for several hours. The government started a money cleansing routine to clean cash that travels through the banks and circulates throughout the country.
Government officials set up an ultraviolet ray cleaning process that takes about 14 days to clean money if it has an active virus. The latest COVID-19 information coming out of China claims the virus slowed down. But with 71,000 cases reported, and more than 1,800 new cases reported overnight, that information seems a bit out of touch, according to the World Health Organization.
The economic damage China will suffer from the virus outbreak will shave at least 2.0% off of GDP growth. First-quarter growth may drop to 4.0 to 4.5% at the end of March. Fed Chairman Jerome Powell expects U.S. Gross Domestic Product growth to slip by ½%. Other economists claim a 1.0 to 1.5% decline in growth is more in step with what’s happening in the manufacturing sector, as well as in the consumer sector. If consumer spending continues to slow down, economic growth will slow down in a hurry.
The president continues his quest to stop Huawei’s 5G infrastructure expansion. Boris Johnson signed a contract with Huawei, and the president jumped all over Boris during a recent phone conversation. Mr. Trump let Johnson know disobeying his command to forget about Huawei comes with consequences. Boris canceled his March trip to Washington after the president threatened him again.
Mr. Trump wants to stop Huawei component customers from buying components in other countries that use American-made equipment to produce them. If that happens, U.S. Tech companies will suffer. American phone carriers joined a Facebook project to use existing components instead of replacing them if the Huawei ban gets out-of-control.
Mr. Trump continues to tweet about the Roger Stone case. The president claims Stone shouldn’t be on trial because the Mueller investigation was an illegal witch hunt. He said if he wasn’t president, he would sue over the outcome of the Mueller report.
President Trump continues to nasty-tweet Judge Amy Berman Jackson for sending Manafort to jail and placing a gag order over Stone’s mouth while his court case plays out. Now that Barr interfered with the case, and Trump continues to bash the judicial system, it’s unclear what will happen in the Stone case.
Dil Bole Oberoi
