The Collapse of the Trump Administration

Greg Valliere of AGF Investments over at the firms’ website:

THE MARKETS HAVE COLLAPSED, the sports world has collapsed, and the Trump Administration has collapsed — abdicating to the steely Nancy Pelosi on policy, abdicating to health experts like Dr. Anthony Fauci, and potentially abdicating to Joe Biden in November.

WHEN THE HISTORY OF THIS SHOCKING COLLAPSE is written, its defining chapter may focus on Donald Trump’s appalling speech on Wednesday night — poorly delivered, filled with errors, insulting to European allies, and a disaster for the financial markets.

WE TALKED WITH INSIDERS YESTERDAY who are stunned by the speech and Trump’s improvised happy talk. One source said that within the White House, there’s dismay that policy is being crafted by Jared Kushner, who has no expertise on health issues.

THERE’S BEEN NO DIRECTION from the White House on policy responses, so Pelosi has filled the void, winning concession after concession, prevailing with 14 days of paid sick leave, more generous unemployment benefits, free virus testing, etc. Many of the concessions could be permanent.

More here.