Posted on 03/12/2020 6:42:46 AM PDT by Enlightened1
U.S. stocks fell sharply once again on Thursday after an address from President Donald Trump failed to quell concerns over the possible economic slowdown from the coronavirus.
The S&P 500 dropped 7% shortly after the open, triggering a 15-minute “circuit breaker,” which temporarily halts trading at the New York Stock Exchange. The broad index also joined the Dow Jones Industrial Average in bear market territory. The 30-stock Dow slid more than 1,600 points, or 7.%. The Nasdaq Composite dropped 7%.
Before the open, futures contracts tied to the major indexes fell to their so-called limit down thresholds, sliding 5%. These limit down levels act as a as a floor for selling until regular trading begins.
Cruise line shares dropped sharply. Royal Caribbean traded 23% lower while Carnival and Norwegian Cruise Line slid 14% and 20.3%, respectively. Airline shares such as United, Delta and American all fell more than 10%.
On Wednesday, the Dow ended its historic 11-year bull market run by closing in bear-market territory. A bear market marks a 20% decline from all-time highs. The S&P 500 was just shy of that threshold going into Thursday’s trading and was poised to enter bear market territory based on futures losses.
(Excerpt) Read more at cnbc.com ...
Yep, “the horse is out of the barn” now for containment due to lack of early testing, but widespread testing now like you suggest can help with “flattening the curve” to prevent strain on hospitals.
It’s a brutal cold which sends about 19% of the people who get it to the hospital with shortness of breath and a cough so bad you can’t talk. THAT is the real danger, the overwhelming of the healthcare system.
Do the math, most experts agree 40-70% of the population will contract the virus.
(Local population) x 0.4 x 0.19 = needed hospital beds in your area.
For, let’s say Houston, this equals 176,000. Now the question is are those beds needed over six months, or six weeks?
That's not what you originally wrote.
You wrote: "It may not have helped that the administration officials in charge of monitoring global pandemics were fired in 2018 and never replaced.
The only reasonable inference from what you wrote is there are no administration officials in charge of monitoring pandemics.
And that's fake news.
When will this happen? It’s not happening now is it? In the US.
And it was two people on the NSA.
“The only real threat I see is the Supply Chain”
There is also a demand shock in the energy industry. Drama between Russia and SA are all about falling demand and thus price.
If energy sector goes toes up, it could spread to financials.
If that happens we will have a Financial Crisis.
The president made a mistake when he said on February 26th that the cases would go down to “zero” very quickly. Those were his words. I believe there were only 6 known cases at that time.
It’s an understandable mistake since nobody had any idea the virus was already widespread in this country. But still, he took a while to come around to the fact this is a serious problem. I appreciated his serious tone last night and the steps he’s now taking. He may have to do a lot more if this thing expands.
https://www.powerlineblog.com/archives/2020/02/is-coronavirus-a-hoax.php
Did Trump actually say the corona virus is a hoax? Of course not. The claim is idiotic. If the president thought the virus is a hoax, why did he do a press conference on it last week, along with various medical personnel? And why did he ban travel to China at the beginning of the outbreak? This is what Trump actually said in South Carolina, according to the New York Post:President Trump jeered Democrats Friday night for criticizing his response to the COVID-19 coronavirus outbreak, saying that it was a “new hoax” after a failed attempt to remove him from office over Ukraine.
“They tried to beat you on Russia, Russia, Russia — that didn’t work out too well,” Trump told a cheering crowd in South Carolina. “They tried the impeachment hoax. That was a perfect conversation.”
“And this is the new hoax,” Trump declared.
***“Let’s get this right: A virus starts in China, makes its way into various countries all around the world, doesn’t spread widely at all in the United States because of the early actions that myself and my administration took against a lot of other wishes. And the Democrats’ single talking point and you see it is that it’s Donald Trump’s fault,” he said.
The hoax, obviously, is the Democrats’ unfounded criticism of the Trump administration. Never in American history have we seen such nakedly dishonest criticism of anyone in public life.
I've asked you for the exact quote of President Trump allegedly telling people to go to work with coronavirus. I flatly do not believe there is any such thing. But if you can provide the quote I'll change my mind.
What we are seeing from the Democrats with their presumptive nominee (old demented coot) and their influence on the markets is synonymous to the jilted lover “if I can’t have you (the country) then nobody can”. The bluestate virus is just the catalyst.
I wasn’t the OP of the statement, but you’re really trying to split some hairs here. Pandemic planning would still have been part of the mandate of the NSC, however there have been no officials specifically responsible for this mandate since the 2018 dismissal of Rear Adm. Timothy Zeiner.
Given the exponential doubling rate of cases observed in places with unchecked spread, without major social distancing steps enacted, the US will have a million confirmed cases by the end of April.
At least that's better than the 97% of “experts” who agree that “global warming” is going to kill us all. /s Seriously, you need to get sent to the corner for spreading leftist propaganda.
What disease experts were muzzled?
I think at that time Trump was getting his medical advice from Larry Kudlow and Wilbur Ross.
So what would be different now if Zeimer was still there?
There's a lot of inaccurate info out there. Just trying to do my part for people to be precise.
Usually people who are in charge of planning and preparedness actually produce a plan and publish it. At that point they are no longer needed.
The media and the Dems won’t be happy until they crush this economy with a total and complete market crash.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.