OT: COVID-19 - NO POLITICS (MOD/warning post #527)

[The Hanging Jowl]

Instead of talking about the coronavirus we should be talking about the scumbags who started this whole mess. Scumbag poachers aiding scumbag illegal wildlife traffickers... Thousands of operational illegal wildlife wet markets and if they arent exposed some other virus will come along just as contagious but instead of a 3% death rate maybe it could be a 33% death rate. Not only are do they not have morality but they are also stupid. They should have been stopped the first time SARS hit 15 years ago.

Watch this if you're really interested:



Basically the wet markets evolved and were sanctioned by the government so poor people could survive after tens of millions died under Maoist China. I.e., they're not illegal. We need to separate Chinese people from Chinese government.

 

[yubbers]

However, you are right about the unprecedented debt levels in the U.S.which have sharply accelerated under the current administration. I've seen many economists on the CSPAN channel (panels of subject matter experts, not a proxy for any political party) argue that the danger in recent tax cuts was that the debt would significantly increase, and we would not be keeping our powder dry so to speak for crisis situations where federal stimulus would be necessary. And, they were stating that the economy (& stock market) was doing well before those tax cuts went into place, hence were unnecessary.

That's not true. Same analysts that said the market would crash if he was elected to?:p

Trump added the second-most debt of any recent president. According to the Treasury data, the US added $2.07 trillion — $2,065,536,336,472.90 to be exact — in new debt between Trump's inauguration on January 20, 2017, and February 11, when the country pushed past $22 trillion. (The US added another $2.8 billion through February 15, the latest daily figures available.)
That is less than the $3.46 trillion added between Obama's inauguration in January 2009 and February 11, 2011

I agree Trump is spending too much.But at least he's getting return on money spent which needs to be looked at as well.

 

[HoweHullOrr]

Can someone tell me why the stock market is always so volatile? I mean hypothetically speaking what if the vast majority of investors around the world DID NOT PANIC and instead sat tight on their investments? Wouldn't the drop in the markets be vastly minimized instead of dropping so much like it has now?

I just don't get why every little event in the world can cause the markets to go down so easily when if people simple sat tight the mood swings in the markets wouldn't be so huge.

The market is often driven by "confidence". In this crisis, "confidence" has dropped for whatever reasons. I'm trying to avoid politics here, but consider the exact timing of big drops and when someone is speaking. Correlation? You can judge for yourself.

Also, the supply chain will be threatened as people don't show up for work to get things done, either because they are sick, or have been quarantined. This will negatively impact corporate profits.

Companies that are highly leveraged (borrowed a lot of money) could go bankrupt. This is particularly true in the oil & gas industry. This will create unemployment, meaning personal incomes will drop, hence reducing the amount of money the governments have to operate.

A large hit to our health system will also drive up costs in that sector.

Those are a few of the reasons. However, where "any" government spends its money is a matter of its priorities.

 

[New User Name]

PEOPLE SHOULD NOT GET TESTED UNLESS THEY HAVE SYMPTOMS!

anyone that does is wasting valuable and rare resources.