This is going to sound very cynical and mean spirited, but given the much higher mortality rates for the coronavirus amongst the elderly, if we get a full blown pandemic here, the cloud could have a silver lining. First it could actually restore Social Security to long term viability for many years. Second it could result in a huge transfer of wealth to the GenXers. In the meantime expect a rough go as commerce starts to freeze up when transportation systems grind to a slow pace due to quarantine rules.
Hi Thanks for checking in. We shall see. Seems to me this is just the beginning of the story. Should it get much worse, stock markets will be devastated and gold/silver will soar in the panic. All heck could break loose, like rarely seen. Best Bill
Much panic for what is little more than a nasty flu -for now. It's mortality is so far confined to a comparatively modest percentage (3%) of cases. While dangerous and a source of concern, it is still not a severe as ebola, MERS, or even the 1919 flu. The danger is that it could mutate or evolve into a more lethal form.
There has been much speculation that this might have been a germ warfare experiment that escaped from a Chinese Lab in Wuhan. That might be the seeming reason for the sense of panic emanating from China and their leadership.
Killer bees came from a lab experiment in Brazil that escaped. Others have suggested (without proof) that Lyme disease originated from across the Long Island Sound at the Department of Agriculture's animal disease lab at Plum Island, NY. When West Nile came across the Atlantic in 1999 it raised a few eyebrows.
Other forms of pestilence that have had devastating effect in recent memory include Dutch Elm disease and Chestnut blight - only a handful of Chestnut and Elm trees remain in the US when there was once hundreds of millions. Major locust swarms are devastating East Africa for now. Emerald Bark Beetles from China are destroying ash trees in the US.
The bottom line is that various forms of pestilence can have widespread and devastating economic and human health effects. For the moment too much panic has set in the financial markets to justify current conditions. This signal may be a tip-off on the overall fragility of our economic house of cards.
jpdell33
02-27-2020 @ 9:16 AM