In case you are wondering why President Trump won’t enforce the “Defense Production Act” to get corporations to rapidly produce testing kits, testing analysis kits, personal protective equipment (PPE) equipment and respirators, it’s because Wall Street is against it. When weighing the personal safety of Americans versus Wall Street, the “bottom line” always wins out, just as it did in 2008.
For companies to convert to production of these essential medical supplies would take a major transformation of the production lines, just as it did during World War II under Franklin Delano Roosevelt to convert from automobiles to tanks and planes.
After the crisis is over Wall Street believes it would take too long to convert back to regular production and thus prevent the economy from stabilizing right away and therefore hurt the stock market where 85% of it is controlled by the top 10% in the U.S. government control is so necessary in a crisis like this and republicans do not like government. That’s why Mitch McConnell sits in the Senate and until forced to has done nothing. The status quo and nothing is what Republicans want.
Herbert Hoover was shackled by the same philosophy going into the “Great Depression” thinking that private enterprise and not government would get him out of the Depression. FDR proved that dead wrong.
It is so confounding how in the most advanced country in the world, with the greatest technology in the world there were not enough testing kits to handle this crisis.
We can send men (and women) into space but can’t manage mass production of these items. Trump succumbs to this pressure from Wall Street because the Republicans are prisoners of the top 1% just as they are prisoners of Trump himself. It is so evident in a crisis like this who they side with and it’s not the middle class!
John W. Kowalski