Knock on effect of the virus

[bastonjock]

2 hours ago, Dave Hounddriver said:

Improbable, but not impossible.  Something in the Philippine climate could be inhibiting the spread.  Perhaps just the right amount of heat and humidity to make an environment that is inhospitable to this virus.  Just a suggestion as it is indeed strange that the Philippines is still relatively unaffected.

That's an interesting possibility, the countries where the virus is spreading the most , are quite cold at this time of the year ,even IRAN, their average temp is around 10 celcius in january 

Where as the Phil's are either hot or effing hot 

[stevewool]

My daughter had to go to the doctors this morning here in England and what she saw amazed her.

All the doors have been removed so Your hands are not touching them and the reception area has police tape all around so no one can get close to the counter .

[earthdome]

14 hours ago, earthdome said:

The US Federal Reserve (Central Bank) started dropping the discount rate (the interest rate they charge to member banks) last summer, a total of 0.5%. Today they announced they were dropping it another 0.5% and may drop it up to another 0.75% before the end of this year. The Federal Reserve does this to try and spur economic growth. This move shows that they are very concerned about the economic impact of the corona virus and that they were generally concerned about the US economy slowing down starting last summer. The US stock market dropped almost 800 points today because of that news.

 

To put things in perspective, the last time the US Federal Reserve did a 0.5% discount rate cut was in 2008 during the housing crisis.

[Tommy T.]

Just now, earthdome said:

To put things in perspective, the last time the US Federal Reserve did a 0.5% discount rate cut was in 2008 during the housing crisis.

I think the shit has hit the fan financially... How about you?

 

[Dave Hounddriver]

11 minutes ago, Tommy T. said:

I think the shit has hit the fan financially... How about you?

My opinion is:  Financial health will follow medicinal health.  Here is the good news today:

Quote

 

The number of daily coronavirus cases reported by China has been in steep decline for about a week — and it means South Korea now appears to be the new center of the epidemic.

South Korea reported 516 new cases on Wednesday, compared with China's 130 new cases.

Though China still has the most active cases of the novel coronavirus of any country, the pace of its spread has slowed sharply, while the number of recoveries has soared.

https://www.businessinsider.com/coronavirus-new-cases-soar-south-korea-slow-in-china-2020-3

 

The rest of the world is only a month or two behind China so if they are getting it under control we just have to follow what they did and it will be over in 2 months (such is my optimistic opinion).  As soon as that is over the stocks an businesses will recover so just don't sell for a few months and it will be fine.

Edited March 4, 2020 by Dave Hounddriver

[earthdome]

6 minutes ago, Tommy T. said:

I think the shit has hit the fan financially... How about you?

 

Certainly looks like that on the short term. Question is whether the corona virus burns itself out before we end up in a longer term recession. I am lucky in that we can hunker down at home since we do not work and have no need to travel. Plus I don't have to rely on my retirement investments for income so my IRA can ride this out for a while. In fact if the market starts a long term down trend I could come out ahead in the longer term because my financial adviser has some PUTS in my account as insurance against a long term bear market.

[Old55]

4 hours ago, Dave Hounddriver said:

My opinion is:  Financial health will follow medicinal health.  Here is the good news today:

The rest of the world is only a month or two behind China so if they are getting it under control we just have to follow what they did and it will be over in 2 months (such is my optimistic opinion).  As soon as that is over the stocks an businesses will recover so just don't sell for a few months and it will be fine.

Good time to buy IMO

[stevewool]

[Tommy T.]

7 hours ago, earthdome said:

Certainly looks like that on the short term. Question is whether the corona virus burns itself out before we end up in a longer term recession. I am lucky in that we can hunker down at home since we do not work and have no need to travel. Plus I don't have to rely on my retirement investments for income so my IRA can ride this out for a while. In fact if the market starts a long term down trend I could come out ahead in the longer term because my financial adviser has some PUTS in my account as insurance against a long term bear market.

And the US market is up over 1,200 today - unprecedented! Certainly a time for volatility. I am just sitting on the side observing. To do more now would raise my blood pressure.

[RBM]

16 hours ago, hk blues said:

I see also that Africa only has 3 cases - 1.2 billion people!  I guess that is a good comparitor to the Philippines in many ways (climate/healthcare/state of development etc etc) so it's not so hard to see why there are only 3 cases reported here.    

Most countries in Africa would struggle to even compare with Philippines regarding the quality of health checks.  I suspect the number of cases there are far higher than what has been reported.

Totally agree with previous posters regarding the stricter criteria in Singapore, still Malaysia  has I believe also similar climates and is effected.

Still if one looks at the effects of common influenza (flu)  corona pales....perhaps due to the fact its new the publicity is greater.