We've updated them. I wouldn't say we've amended them, in the sense that the report is still the report. But 23 years we've been around, we've never done this outside of January. But we've never had a crisis of this scale. Not 9/11, not 2008. This is the biggest we've had to deal with since World War II. And I wanted to kind of reflect that to people.
On the other side, risks that are... And of course, risks like hits to stability in Latin America, stability in Turkey, stability in the Shia Crescent. Clearly, with oil prices under 20 bucks, and with a massive crash in both supply and consumer demand, you're going to have a much greater pressure on those risks.
President Donald Trump speaks about the coronavirus in the James Brady Briefing Room, in Washington on March 26, 2020.A $2 trillion stimulus passed in short order, representing 10% of the US GDP. By far, the largest. Just in context, 2008, 2009 total stimulus together... 5% of US GDP. This is massive. He's going to get credit for that. He's the President. He's doing his press conferences every day. For him, this is all about him. He's dominating the news.
Let me tell you what I think about Trump on all of this. If you want to criticize Trump, the two things that you should criticize him for is that he has been a communications disaster and has provided a lot of false hope that probably led to a later response, particularly in red states in social distancing, than we need. And people are going to die because of that. That's a profound negligent leadership point. Right? Trump constantly in sales mode, "This is going to go away.
Also, the fiscal response and the monetary response that Trump signed... and Mnuchin, his administration worked with Nancy Pelosi. Massive. Covers almost the entire economy, and it is relief. It's not stimulus, it's relief. It is emergency relief. It's desperately needed. It will keep the economy functioning for a minimum of three months, which we need because Congress is going home and they're probably not coming back until June. Right? I don't care what they say.
They'll hedge. They won't listen to us when we say, 'don't work with Huawei.' They won't listen to us when we say, 'don't join Belt and Road.' We're not going to do the marginal planning. That's definite as well. Those are two things that are going to happen. And think about the last two major crises we had, which were smaller crises. So it should have been easier to respond to. 9/11, right? The United States, the Americans come together. Our allies support us. And even the Russians open up bases in Central Asia, so we can all engage in a war against Al-Qaeda, the Taliban, and Afghanistan. Right?
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