President Trump: The NEW one and only politics thread

He's going on about Chloroquine, like he invented it, and as if it is something out of the Jetsons.

It's been on the market since 1934, and it's FDA approved. Fairly commonly prescribed for arthritic diseases. They give it out like candy in places where malaria is a problem. Any doctor in the U.S. could have prescribed it off label already without Donald Trump giving them the high sign and acting like he has just split the atom.

 

He transformed the FDA. ... to make a depression-era drug that was already on the market available.

Or is he talking about the Gilead drug?

 

It's ridiculous when the head of the FDA has to explain "compassionate use," and correct what the president said just 4 minutes before at the same podium, so people don't have misinformation.

As an aside, these numbnuts should just stop. The FDA has been a big part of the problem. They are not "protecting" the American people; never have. They stymie innovation by making it prohibitively expensive and time consuming to do things. They serve as a barrier to entry protecting the large pharmaceutical companies that have bought their influence.

There were infectious disease doctors who had a huge number of samples in January and could have been testing them for coronavirus, but the CDC told them they couldn't because the FDA hadn't approved and certified their labs, and they were insisting that they go through a red tape process that takes months. But now the FDA is telling us the breakneck speed they are working at.

 

Trump cheerled a stock market bubble that was largely blown on share repurchases, because trillions of dollars of mispriced debt encouraged those companies to do buybacks. ... and in the late stages of that madness, Trump was browbeating the Federal Reserve to lower rates and make debt artificially even cheaper to blow the bubble even bigger.

But now, he never liked companies buying back their stock.

 

The stock market is having very little moves, actually, based on this crap. They can't jawbone the markets now. If they announced a vaccine, there would be a rip. But right now, the general market trend is playing off of the issues in the funding markets. Boeing not being able to get any more credit over the next 30 days, and what the spreads look like in the commercial paper markets, is having more of an effect on the daily moves than anything.