So this news should knock down the markets another 2.78% monday... maybe knock off another $3 trillion bucks in market value...at the rate of decline markets are moving, they will be worthless in about a month. And When are they going to close schools, concert venues, restaurants, super markets...times square, subway stations, sport venues, and no work for a month? I mean with this virus coming here to the US why wait for 289,782 cases to shutdown public crowded places when they can do it now with the 11 cases from san antonio??
It just hit the news: Oregon, California, Washington all seeing new cases. Oregon elementary school got shut down... https://www.nytimes.com/2020/02/29/world/coronavirus-news.html I can only imagine if this thing gets out of control. Also, new cases in Nigeria, Middle East, North and South Korea, Singapore, Japan, Europe... Same thing in Japan, both schools and Disney Land. https://www.nytimes.com/2020/02/27/world/asia/japan-schools-coronavirus.html What people aren't talking about is just how bad things could get. The global economy is completely debt fueled. A long and indefinite slowdown will cripple businesses, cause loan defaults, and put pressure on RE valuations. The central banks have been pumping RE bubbles for decades. If real estate goes tits up, it's really gonna get ugly. Real estate and stocks getting destroyed at the same time? It's the boomers worst nightmare !!!
Yea, exactly. And they are the ones who are supposed to be spending the most on travel, airfare, luxury, fine dining, and entertainment. Hell, they are the ones that are supposed to be retiring and spending all those fat RE profits and decades of bull market gains. People need to understand that when global markets sell off, there is a fundamental reason. In other words, this isn't just a technical chart pattern. Look at this list. It's a sea of red...
Yeah, its a Novel virus, which means it's harder to deal with for those on the front line, even if its kills many fewer people than regular flu in the end. Every years doctors and nurses get immunised against flu so they can treat flu sufferers, but there is no vaccine for this and its 10x deadlier than flu. So if you were a doctor or nurse would you want to treat 100 suspected patients a week? Probably not, at least not without a Hazmat suit on. And if you ran a funeral home would you want to touch the bodies. No way, so off they go straight to the incinerator. And even if there is only 1% chance of your dying from it you probably still don't want to risk catching it as the health services are going to get so over streched at some point they are not going to be of much help to you.
There are 8,400 people the State of California is watching per Gavin Newsom. Whatever that means. How many are infected in California? There are 2 officially reported Corona Virus cases in California. Take note California is a gateway to hordes of Chinese tourists coming to visit. How many of them are infected and have been given treatment by the US? Democrats cannot be trusted to tell the truth. They are hiding it because the blame will go to them since, majority of politicians from mayors on up are Democrats. Like the runaway homelessness in California, expect the Democrats to hide it until, it is a full blown pandemic and 100,000 infected then, they will blame it on President Trump.