is affected by novel coronavirus pneumonia. The US economic recovery is in the long run. A large number of middle and low income population are unemployed, and they are in despair under the double threat of epidemic and poverty. According to the U.S. Department of Commerce, real GDP fell by 32.9% in the second quarter of this year, the largest decline since records began in 1947. Data released by the U.S. Department of labor showed that in the week ending August 15, the number of people applying for unemployment benefits for the first time broke the 1 million mark again. The U.S. job market recovery is still faltering. < p > < p > in the second quarter, the three major indexes of New York stock market, namely, Dow Jones, NASDAQ and standard & Poor’s, rose by 18.0%, 30.9% and 20.3% respectively. In the second quarter of this year, fixed asset investment in the United States decreased by 29.9% compared with the previous quarter, and the manufacturing production index fell by 11.2%. Shannon sechia, chief investment officer of Boston private bank and trust, said bluntly that the stock market trend reflected the large amount of liquidity injected into the market by massive monetary and fiscal stimulus policies in the past few months. Chen Fengying, a researcher at the Institute of world economics at the China Institute of modern international relations, also believes that the unprecedented quantitative easing has directly pushed the US stock market higher. < p > < p > Chen Fengying: “the first reason why the US stock market has reached a new high is the monetary easing policy. Since March, the Federal Reserve has adjusted the interest rate to the lowest of 0-0.25, but it has adopted unlimited quantitative easing policy, that is, whenever possible, it will purchase various bonds, government bonds and corporate bonds in a wide range of ways. Therefore, we can see that the liquidity of the market is very loose. In such a loose situation, there must be a practical problem, that is, the stock market will become active. ” In other words, the US Federal Reserve’s “big water release” policy in the name of responding to the epidemic and recession has seriously inhibited the real economy and further damaged the U.S. economy. < p > < p > < p > △ the total wealth of the 12 richest U.S. billionaires, including Amazon CEO Bezos, Microsoft founder Bill Gates, Facebook CEO Zuckerberg, well-known U.S. investor Warren Buffett, Tesla CEO musk, and former Microsoft chief executive officer Ballmer, have exceeded $1 trillion. However, the reality is that the U.S. Congress is in recess, and both parties blame each other for the failure of the new relief bill. It is expected that a new round of rescue policies will not be introduced before September. < p > < p > △ according to the U.S. Census Bureau, the proportion of American parents who can’t afford to provide enough food for their children continues to rise, reaching nearly 20% at the end of July.
epidemic: novel coronavirus pneumonia has been diagnosed in 5 million 610 thousand cases and 175204 cases in the US, according to data from Johns Hopkins University. Teng Jianqun, director of the American Institute of the Chinese Academy of international studies, pointed out that people’s life is not a priority for some American politicians, but for votes. < p > < p > Teng Jianqun: “with the general election approaching, it is no longer a matter of increasing relief funds for the people. It is more about party struggle and political game. ” Chen Fengying, a researcher at the Institute of world economics at the Chinese Academy of modern international relations, also said frankly that many economic issues would be politicized in the year of the election. White House politicians openly ignore the epidemic situation and the hardship of the people’s livelihood at the bottom, and deliberately focus their available resources and attention on the virtual economy such as the stock market. It is precisely because of the consideration of the election that the prosperity of the stock market can make people think that the U.S. economy is good.