Posted on 02/25/2020 11:33:06 AM PST by Zhang Fei
The COVID-19 illness has not become a global pandemic, according to the World Health Organization, but its starting to act like an economic one. And the financial costs are mounting.
Near-panic over a spreading coronavirus sheared more than 1,000 points off the Dow Jones Industrial Average DJIA, -3.12% on Monday, with more and more companies having followed in Apples AAPL, -2.78% footsteps by warning of lower sales and supply disruptions that could cause even more damage in the next few months.
Just a few weeks ago, most economic forecasters were predicting a small impact from the viral outbreak in China. Since then the virus has made its way to South Korea, Italy and other countries, raising the prospect that it will spread worldwide.
The U.S. economy has been shielded from direct impacts of the virus, but the side effects are becoming more evident each day. Declining travel. Fewer foreign tourists. Supply bottlenecks for automobile makers and tech companies. The closure in China of popular American retail chain stores such as Starbucks SBUX, -3.01% and McDonalds MCD, -0.65% . And so on.
Goldman Sachs on Monday raised its estimate of the economic damage to the U.S. for the third time in as many weeks. The bank now predicts the virus will shave eight-tenths of a percentage point from U.S. growth in the first quarter double its original estimate. Thats a fairly big chunk of growth.
The truth, of course, is that no one really knows how much the disease will cost, especially if most countries that encounter the virus take the same steps as China in quarantining millions of people and shutting down large parts of their economies. The globe hasnt suffered from a true pandemic since the Spanish flu in 1918 swept the world and killed up to an
(Excerpt) Read more at marketwatch.com ...
Way overblown.
1) It is the flu, not typhoid.
2) Primarily the elderly are at high risk.
3) Wuhan is in central China. Most manufacturing is far, far from here.
4) Most of those infected seem to be primarily of Asian decent, regardless of country, and regardless of the MSM blackout of this information.
5) More people die from the garden variety flu than of the Coronavis.
6) Some people don’t mind the drama surrounding a potential scary unknown.
7) 99% of the people who get the virus fully recover.
8) It’s the flu.
Fear is more contagious and often more deadly than the thing feared.Bring Out Your Dead
Post to me or FReep mail to be on/off the Bring Out Your Dead ping list.
The purpose of the Bring Out Your Dead ping list (formerly the Ebola ping list) is very early warning of emerging pandemics, as such it has a high false positive rate.
So far the false positive rate is 100%.
At some point we may well have a high mortality pandemic, and likely as not the Bring Out Your Dead threads will miss the beginning entirely.
*sigh* Such is life, and death...
If a quarantine saves just one child's life, it's worth it.
Dear MORONS
Total death Coronvirus world wide: 2711
The real Wuhan numbers are well over 100,000 dead and maybe 200,000 - so many dead that the 49 crematoriums are going 24/7 processing 270 bodies each per day and when they began to break down the CCP, at Xi’s order, brought in industrial furnaces to clean up the uncollected bodies and are all emitting a sulfur dioxide plume from the center of Wuhan visible from space?
Do you have any idea how bad it really is or are you merely scared like the rest of us, but unable to look at the problem head on without ad hominems?
One possible thing they know that we don’t is the true scale of the epidemic in China.
between 100,000-200,000 have died in Wuhan in the past 60-90 days!
THIS IS NOT THE FLU
No, it's not the plague - as the plague is now treatable, whereas we have no current treatments for this coronavirus. There were three cases of the bubonic plague reported in China in November 2019 - but obviously that hasn't led to an outbreak. This coronavirus is very nasty.
+1000
:-)
grow up idiots.
SARS Pandemic
Bird Flu Pandemic
Swine Flu Pandemic
No sorry.
YOU DO NOT KNOW BETTER. Ok. This is whole problem with you hysteric drama quees. You manufacture an alternative reality in order to cling to your adolescence need for drama. You are total stooges for the latest social media lie being flung around.
STOP with this narcissistic arrogance where you drama queens just assume you know better then the data.
It’s the flu, which killed 50-60 million people in 1918.
Researching my family, I found a great-aunt who died, along with 3 of her children and her mother-in-law in the same week.
The newspapers of that period were half obituaries, and the other half snake-oil ads to survive the flu.
The sky is *ALWAYS* falling for some people.
But its not just the elderly at risk. The doctor that first sounded the alarm died from the virus and he was only 35.
The media hysterics are making this virus seem like the black plague.
Its not
“manufactured crisis”
Guess this is a nothingburger compared to the climate crisis.
That and being hired by farmers to go to drought stricken areas. I think it was an Asimov tale...
I agree. Wholeheartedly.
The Plague
Not the same...
The idea is to tank the economy and blame Trump.
And its a good chance it will happen. If China goes into depression over this, it will pull us down too. So much money is invested there and so many of our products and materials come from Asia. Its going to hurt. And Wall Street is in a panic.
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