Pandemic derails resilient US economy

[mystery-ak]

Pandemic derails resilient US economy
By Sylvan Lane - 03/14/20 05:09 PM EDT

he coronavirus pandemic is the greatest challenge that the U.S. economy and financial system have faced in more than a decade.

As the U.S. braces for cases of the coronavirus to rise through the country, Americans are preparing to hunker down and withdraw from society in a bid to avoid infection — or at least buy time for a medical system that may be stretched beyond its limits.

Financial markets have suffered their worst losses since the 1987 stock market crash, wiping out nearly three years of gains and prompting crisis-level action from the Federal Reserve.

Concerts, professional and student sporting events, music and film festivals, parades, and other gatherings across the U.S. have been canceled or suspended, depriving vulnerable service workers, small businesses and the economy at large of crucial consumer spending.

more
https://thehill.com/policy/finance/487532-pandemic-derails-resilient-us-economy

[libertybele]

Pandemic derails resilient US economy
By Sylvan Lane - 03/14/20 05:09 PM EDT

he coronavirus pandemic is the greatest challenge that the U.S. economy and financial system have faced in more than a decade.

As the U.S. braces for cases of the coronavirus to rise through the country, Americans are preparing to hunker down and withdraw from society in a bid to avoid infection — or at least buy time for a medical system that may be stretched beyond its limits.

Financial markets have suffered their worst losses since the 1987 stock market crash, wiping out nearly three years of gains and prompting crisis-level action from the Federal Reserve.

Concerts, professional and student sporting events, music and film festivals, parades, and other gatherings across the U.S. have been canceled or suspended, depriving vulnerable service workers, small businesses and the economy at large of crucial consumer spending.

more
https://thehill.com/policy/finance/487532-pandemic-derails-resilient-us-economy

The ides of March.  March has never, ever been a good month for me.  Looks like March isn't going to be a good month for this country.

Yes, concerned over the virus, but the bigger concern is, the manufacturing of pharmaceuticals in China.

I keep telling myself; tomorrow is a national day of Prayer. Things are going to get better.

[truth_seeker]

I just heard on 640 KFI AM big local radio:

James Doti, longtime and well known economist at Chapman University-

Short recession maybe 6 months then rapid recovery.

Passing on positive, real time information,

in lieu of bulllshit TDS fake news, false headliines, by trolls and disruptors of late.







t

[Smokin Joe]

I just heard on 640 KFI AM big local radio:

James Doti, longtime and well known economist at Chapman University-

Short recession maybe 6 months then rapid recovery.

Passing on positive, real time information,

in lieu of bulllshit TDS fake news, false headliines, by trolls and disruptors of late.







t

Thanks.

I'm no economist, I only had one course in macroeconomics in college.
I'm not a doctor, either, but right now I honestly believe the economy is more in danger from panic than the disease.

I cannot escape the thought that there are clear reasons a disease might be seriously over-hyped as the apocalypse by a media overtly and extremely hostile to the present Administration to bring down the economy in an election year.

When I look at the stats, yes this is a nasty, contagious little bug, one that especially targets people over 60, who have preexisting medical conditions, including diabetes, coronary conditions, and pulmonary problems, as well as weakened immune systems.

Still, for most of the population, especially those under 50 and in good health, this appears to be a bug that you shake off in a few days at most, and return to life pretty much as normal, at least as normal as it can be with everyone dashing about in total panic.

In the meantime, the stock market has dropped, items that shouldn't be are in short supply, and everyone is pulling the worst case statistics out of the hat (without questioning whether people not hospitalized were even tested) and howling "Wesa gonna die!".

Even people who ordinarily have professed great faith in their Creator have abandoned that in favor of stocks of buttwipe and stuff to grease their wringing hands while killing germs they likely already transmitted to a mucous membrane.

Sorry, but I really don't get it.

[Right_in_Virginia]

Pandemic derails resilient US economy

It hasn't and it won't.

[truth_seeker]

Sorry, but I really don't get it.

Considering national demographics, For many this is their first crisis.

My daughter works in a store, and watched people grabbing everyhing, just to have shelves at home with enough TP for months. Once their home shelves are full, they should stop panic shopping.

Most of the TP that existed in America 10 days ago in warehouses, stores is now stored in homes.

But it goes beyond that to food. I think we have generations that haven't hiked, camped, had tap water.

I was in ICU 3 weeks ago. Going to my regular AA meeting tonight. I am not living my life in fear of scarcity, or of death.

Watching local social, I am seeing crazy, and good too. Like folks with trucks offering to help people shop.

But that reinforces the panic.

So I guess the entire world, is going into "shelter-in-place" mode to some degree, to avoid further spreading this thing.






 
 

[IsailedawayfromFR]

Considering national demographics, For many this is their first crisis.

My daughter works in a store, and watched people grabbing everyhing, just to have shelves at home with enough TP for months. Once their home shelves are full, they should stop panic shopping.

Most of the TP that existed in America 10 days ago in warehouses, stores is now stored in homes.

But it goes beyond that to food. I think we have generations that haven't hiked, camped, had tap water.

I was in ICU 3 weeks ago. Going to my regular AA meeting tonight. I am not living my life in fear of scarcity, or of death.

Watching local social, I am seeing crazy, and good too. Like folks with trucks offering to help people shop.

But that reinforces the panic.

So I guess the entire world, is going into "shelter-in-place" mode to some degree, to avoid further spreading this thing.

take care of yourself @truth_seeker . Hope your health situation returns to normal

[Cyber Liberty]

It hasn't and it won't.

That remains to be seen.  These statements that the economy lays in ruins are premature.  That said, I would not be putting cash back into the market just yet, the short-temp volatility can wipe out a small investor before we get a strong upward trajectory back.  Let the Institutional Investors battle it out for now.

[truth_seeker]

take care of yourself @truth_seeker . Hope your health situation returns to normal

Thanks

My underlying health issues are  completely  unrelated to this virus situation.