Coronavirus Continues to Show Weaknesses in the Global Economy
Wednesday, February 26, 2020 12:49
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“Coronavirus Continues to Show
Weaknesses in the Global Economy”
By Bill Bonner
“Stock Market starting to look very good to me!”
– Donald J. Trump
RANCHO SANTANA, NICARAGUA – “Yesterday, we watched the screen. The Dow was down 850 points at 11 a.m. By noon, it had lost another 50 points. By 1 p.m., it was down 1,000 points. Now it was getting people’s attention. By the close of the trading day, the market sell-off had become mainstream news. CNBC:
The Dow Jones Industrial Average closed down 1,031 points, or 3.55%, at 27,960. The S&P 500 slid 3.4% to finish at 3,225, while the Nasdaq Composite closed 3.7% lower at 9,221. It was the Dow’s biggest point and percentage-point drop since February 2018. The Dow also gave up its gain for 2020. The S&P 500 also had its worst day in two years and wiped out its year-to-date gain.
“The second-largest economy in the world is completely shut down. People aren’t totally pricing that in,” said Larry Benedict, the CEO of The Opportunistic Trader, adding a 10% to 15% correction in stocks may be starting. He also said some parts of the market, particularly large-cap tech stocks, appear to be over-owned. “It seems like there’s much more to come.”
What will sink the U.S. stock market, we don’t know. But something will. When it will happen, we don’t know that either. But some time it will. And then what?
World of Doubt and Ignorance: Thank God for “like.” “Is” is okay for science, technology, and math and simple things, such as two plus two is four. But if you want to know why stock prices are falling… why you didn’t get a raise… why your wife is mad at you… or why the country is going to hell in a handcart, you need the comparative preposition, “like.”
Like is useful even for things you’ve never personally experienced. This morning, for example, you may feel like you are 90 years old. You know what that means, even if you’ve never been 90 years old. “Like” is what connects us to the uncertain world we live in… a world of doubt and ignorance. It’s a world where we know next to nothing for sure. And yet, there are recurring patterns. Which is where “like” comes in.
“Like” is how we recognize when it is getting cold… it feels like it. And how we know someone is being a complete jackass… because he acts like a complete jackass. It is when we know it is time to get out of the stock market or leave a party… because it feels like it’s time to go.
This morning, we are looking at a lot of charts… and all show a familiar pattern. Lines bounce and bop… for months, years… and then, suddenly, drop in a straight line. Most of those charts come from the Far East… where we see everything seems to be dropping like a stone in a well. But the Far East is now the world’s largest economic bloc. And what happens there is not likely to stop at the Yangshan Deep Water Port Terminal.
If It Looks Like a Duck… There’s trouble afoot, in other words. And afloat. On cruise ships. And on freight ships. The coronavirus is no threat to the human race. It could run around the world, killing 2% of the population, and almost everything would still function as before. Two percent is marginal. On the Monday after the Super Bowl, for example, some 11% of the entire American labor force didn’t show up to work.
But nobody wants to be one of the two-per-hundred who drop dead. So, they avoid public places. They call in sick from work. They don’t go shopping. The U.S. economy only grows by about 2% per year. But that’s with all the switches on. Now, imagine the shopping malls are shuttered. Imagine there are no football games. Imagine that people refuse to go to work at all… or refuse to board an airplane… What would happen to airline stocks? To retailers? To restaurant chains?
Imagine that the whole economy is locked down, like much of China. Then what? Sales, profits, earnings – all collapse. Imports, exports… restaurants, movie theaters, bus stations – all empty out… airports, too. What you have then is not just a setback; it’s like a depression. CNN: “The coronavirus continues to spread, and there are signs that some of the world’s top economies could slide into recession as the outbreak compounds pre-existing weaknesses.”
It’s those “pre-existing weaknesses,” that we’ve been writing about in these diaries. But the stock market is priced as though there were no weaknesses at all. Or to put it another way, there are so many pre-existing weaknesses that any infection is likely to be fatal. That it is what it was like in 2000… or what it was like in 2008. “Like” is not as precise or as reliable as “is.” But in love, war, politics, and economics… it’s the best we can do.
As the lawyers say, if it looks like a duck, if it waddles like a duck… and it quacks like a duck… dammit… it is a duck. Whether this is a duck, we don’t know. But we’ll keep the orange sauce at-the-ready. Stay tuned.
Source: http://coyoteprime-runningcauseicantfly.blogspot.com/2020/02/coronavirus-continues-to-show.html
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Yes when it ends quacking like a duck – it’s a Propaganda _ Fear Porn Virus >>> YET Again
Total Prepping Required – IF you are one of the very few that get infected
- and NOT one of the 90/95% infected that exhibit >>> NO Symptoms
Or Symptoms >>>> So MILD – You Would’t Even Notice Them …..
- then
It may be prudent to perhaps – buy a small box of paper hankerchiefs/tissues… & Voila …..FULLY PREPPED & Ready
>>> READ ON
…………………………………
LETS GET INITIAL OFFICIAL GOVERNMENT CONFIRMATION (Fuller Details Lower Down on THE ACTUAL NUMBERS)
………….CANADIAN GOVERNMENT / HEALTH CANADA …………….
QUOTE “coronaviruses are common …..and are typically associated ….with mild illnesses,
similar to the common cold. (Unquote)
QUOTE >>> Those who are infected with COVID-19 may >>>>have little to >>> NO symptoms.
You may… NOT KNOW ……you have symptoms ….of COVID-19
because they are similar to …. a COLD or flu. (UNQUOTE)
https://www.canada.ca/en/public-health/services/diseases/2019-novel-coronavirus-infection/symptoms.html
(& see Quotes At Bottom)
…………………………………….…………….
For the… very few …that do get infected noticeable symptoms, …. typical signs include
- A RUNNY NOSE
- A COUGH
- A SORE THROAT / Fever (high temperature).
The vast majority of patients – at least 97 per cent, ….. based on available data – will recover from these >>>> without any issues or medical help.
https://www.dailymail.co.uk/health/article-7987001/Death-toll-killer-coronavirus-10-TIMES-higher-average-Chinas-Hubei-province.html
………………………………………………….
Its such a happy clappy insignificant symptoms virus – its about as pleasant as you could make – thank you to God or Whoever – good job.
Lest We Forget ….. Ooooh 53 Suspected Cases Out Of 300 MILLION Americans – That’s ‘erm, well – nicely .… very significantly LESS than a PI$$ In The Ocean too really ….isn’t it
And Based On How Things Have Gone In CHINA So Far – It A case Of >>>>
…………………………………………………………………………………………….
MOVE ALONG FOLKS – NOTHING TO SEE HERE – ALL OVER – JUST MOVE ALONG – GET ON WITH YOUR LIVES
CHINA
Yes 2,400 Died Of Caronavirous in 2 months (60 Days) – An Average >>> Really VERY TINY >> 40 Deaths A Day
- Seasonal Flu Kills An Average 88,000 Per Year (Caronavirus Has Managed 2,400)
- 7 MILLION Chinese Die Per Year – Caronavirus Has Accounted For 2,400
And Studies/Reports State whilst there are only 80,000 Confirmed Infections – There Will be 10X that number
- YES 3/4 MILLION + with Symptoms SO MILD – they Won’t EVEN NOTICE THEM
………………………………………………………………………………………………………………………..
So Move Along Folks – Everywhere Is Opening Up Again – Just Move Along Folks – It Was Just The Usual Fear PORN – Move Along …CONTINUED
INTERNATIONAL NEWS CHANEL RT NEWS ….. Evidence …..Propaganda Fatigue ….Setting In
Already Macau CHINA , the world’s biggest gambling hub, …..will allow casinos to resume operations from…. February 20,
…. after authorities imposed a two-week suspension to curb the coronavirus’ spread, authorities said on Monday,
Macau has not reported >>> any new cases of the virus>>> since February 4, … officials said.
There have been >>>> ONLY 10 confirmed cases of the virus – in total there.
Government services, which had mostly been suspended since the start of February, ….. have gradually resumed operations this week.
https://www.rt.com/newsline/481005-macau-casinos-virus-fear/
So Move Along Folk – Move Along – Nothing To see Here – Get On With Life – It’s All Over Folks 2,400 deaths and new cases plummeting – Predominantly Sick, Elderly, Immunocompromised, & usual already on their last legs ….. out of 1.3 BILLION CHINESE
………………………………………………………………………………………………………………………..
NB 10 February 2020 BLOOMBERG
The new coronavirus might have infected….. at least 500,000 people in Wuhan, ….the Chinese city at the epicenter of the global outbreak, …..by the time it peaks in coming weeks.
But…… most of those people…..>>>> won’t even know it.
https://www.bloomberg.com/news/articles/2020-02-08/virus-outbreak-in-wuhan-may-soon-peak-with-more-than-5-infected
…………………………………………….
LOS ANGELES TIMES
Thousands of people in China and elsewhere ….have been infected ….. but have had…
>>>> such mild reactions that >>>> no one even noticed,
- said Dr. Tom Inglesby, director of the Center for Health Security at the Johns Hopkins Bloomberg School of Public Health.
https://www.latimes.com/science/story/2020-01-24/china-coronavirus-panic
……………………………………………………………………………………………..
The UK’s BBC News COMMENTS – Re INFECTED – HAVING SUCH MILD REACTIONS >>> NO ONE NOTICED
>>> FROM THE LARGEST STUDY TO DATE (The paper by the CCDC, released on Monday and published in the Chinese Journal of Epidemiology, looked at more than 44,000 confirmed cases of Covid-19 in China as of 11 February
………………………………….
– So Known Infections Quoted In Study – 72,436 x 10 = 724,000 Who Will Have Had Symptoms – Too Mild – To Notice – YES >> ¾ Million
…………………………………..
QUOTE >>> Re The Known 72,436 infections
- Scientists have estimated there could be …..10 times as many people infected ….. as are ending up in the official statistics.
That ALSO means the….. overall death rate IN THE REST OF CHINA (Outside Hubei) is likely to be
>>> lower than the 0.4% (rest of China) reported in this study (ie 10X LOWER – Making the death rate potentially ONLY 0.04)
https://www.bbc.co.uk/news/world-asia-china-51540981
……………………………………………………………………..
So Theres Proof Of Precedence – How This Caronavirus Runs
So Ignore the PROPAGANDA FEAR PORN – ENGAGE BRAIN PUT COMMON SENSE IN GEAR & JUST PARTY ON !!