Economically destructive tsunami ... This is what America expects from the Coronavirus

Al-Jazeera Net- Washington

The consequences of the spread of the Corona virus in the United States continue without interruption, and there is no hour without exciting new news related to economic affairs, financial markets, death tolls, or the trend towards more closure and isolation.

According to the latest figures, the virus has infected more than 13,000 people in the United States, and about 200 of them have died, and experts expect that these numbers will increase significantly accompanying the increase in testing for HIV infection.

The New York Times expected that the number of people infected with the Corona virus could reach between two million and two hundred million infected, and indicated that the worst case scenario expected the death of 1.7 million people.

US President Donald Trump considered his country to be in a real state of war against an invisible enemy, and on Wednesday, he ordered the closure of his country's northern borders with Canada.

An economic tsunami is coming
In a television interview with CNBC, the investor Bill Akman appealed to President Donald Trump to initiate a total closure of the United States for 30 days in order to contain the spread of the Corona virus, stressing that "this is the only way to save the American economy."

Ackman warned that what scares the American people and American companies most is the gradual collapse of the economic and financial system, and we must initiate a total closure of the economy, as this is the only solution we have.

The billionaire and businessman considered that the America we know ended forever due to the Corona crisis, and he regretted saying that, but it is the new reality as he sees it, and "if Trump does not succeed in taking this position quickly, he will not be elected next November", confirms Akman Founder and director of Pershing Capital Square, adding that there is "a tsunami on its way to strike the United States."

Ackman expected that many hotel companies and restaurant companies would declare bankruptcy, and Boeing Company may be the first to be declared bankrupt from major companies, and he expected that Boeing would not survive without significant government support.

The value of the shares of Hilton Hotels Company may reach zero, according to the estimates of Ackman, who is one of the largest owners of Hilton Worldwide shares.

He expected all hotels in the United States to be closed, and believes that the Corona crisis will continue for at least a year and a half, which makes it impossible for him to continue working in the same ways currently used.

Hilton shares lost 50% of their value, while Marriott lost 60% of its market value since the beginning of March.

For his part, President Trump signed a law allocating one hundred billion dollars to conduct free tests to check the Corona virus, and to grant paid sick leave to people living with the virus.

The Senate approved emergency measures to alleviate the financial hardship and economic losses caused by the spread of the Coruna virus.

Treasury Secretary Steve Minuchen has pledged to provide the federal government $ 1 trillion in financial support to deal with the consequences of the spread of Corona, and this economic package is expected to include checks worth $ 1,000 distributed to US citizens within two weeks.

Trump ... a war chief
On the other hand, as part of the administration's efforts to deal with the consequences of the spread of the Coruna virus, President Donald Trump has described himself as a "war president."

During a White House press conference on the developments in the spread of the Coruna virus, Trump answered the question "Is America now at war?" By saying "In this sense I am a warlord."

Trump decided on Wednesday to activate the Defense Production Act, and giving this law the President wide powers that include the ability to compel American factories to produce and distribute medical products and supplies urgently, which gives the White House the authority to increase the production of medical masks, hand sanitizers, and artificial respirators that have disappeared from the American markets during The past few days, and the law also gives the president the authority to increase hospital numbers if necessary.

The law - passed in 1958 during the Korean War - gives the president the broad power in wartime to accelerate and expand resource production from the production sector to support military and space programs, homeland security, and energy.

Before that, President Trump posted a tweet via his Twitter account, in which he declared a "temporary closure in accordance with" his country's borders with its neighbor Canada in the face of the "non-essential movement", but the commercial activity between the two sides will not be affected by this measure.

Over the past few days, Trump has issued decisions to prevent the majority of travelers from Europe, China, and other regions of the world from entering American territory due to the spread of the Corona virus.

The US President ordered the appointment of two giant medical warships operating as two floating hospitals, one docked in front of New York City, and the other off the coast of California, to help in the efforts to combat the Corona epidemic, and each of the ships contains approximately a thousand rooms, in addition to dozens of operating rooms.