Coronavirus threatens the GLOBAL ECONOMY with a ‘SUDDEN STOP’… Australians told to stockpile food, medicine ahead outbreak

Sharing is Caring!

Telegraph: Coronavirus threatens the global economy with a ‘sudden stop’

Covid-19 is self-evidently beyond the point of meaningful containment. Virologists and infectious disease experts have known for three weeks that this was highly probable, and certainly not a mere tail-risk as suggested by equity market pricing. We are now there.

The global economy may be heading for some sort of “sudden stop” in supply chains, trade flows and tourism more akin to the outbreak of the First World War than the Lehman or dotcom crises.

What happens or does not happen in Wuhan has been overtaken by events in Iran, Italy, the Pacific Rim and no doubt Africa as well if there were surveillance data.

The bond market is already signalling a downward lurch into global deflation. Yields on 10-year US Treasuries have fallen to all-time lows. Evercore ISI says zero yields are coming into “plausible” range.

Real GDP growth in China will “plummet” in Q1

Coronavirus: Australians told to stockpile food, medicine ahead outbreak

A virologist at the forefront of coronavirus research has warned Australians to stock up on essentials to prepare for home quarantine and school and work closures when the new coronavirus sweeps through the country.

Associate Professor Ian Mackay from the University of Queensland said in his opinion a pandemic was inevitable and it was only a matter of time before SARS-CoV-2, the virus that causes the deadly COVID-19, ripped through the Australian population.

“The virus is too well entrenched in many countries around the world,” he told 3AW’s Neil Mitchell.

“It’s coming. It’s just how long it takes to come. China has slowed things down so we’ve got time to prepare — we owe them for that — but it will get here eventually.”

Prof Mackay, who helped develop coronavirus tests for use in Australia, said the government had failed to advise citizens on how to prepare for “what’s coming”.

CORONAVIRUS UPDATE: UAE says ready for ‘worst case’ scenarios as coronavirus spreads in Middle East.

Coronavirus spread ‘deeply concerning’ but not a pandemic: WHO’s Tedros.

Brazilian Who Visited Italy Is Feared to Be First Coronavirus Patient in Latin America.

Communities fight plans to put coronavirus patients in their towns.

Coronavirus cases top 80,000 worldwide.

‘We’re Fine but Bored,’ Says Guest in Tenerife Hotel in Coronavirus Lockdown.

Coronavirus treatment: US testing begins for possible drug as health experts predict virus will spread.

How to Prepare for the Coronavirus: What to Buy Now in Case a Pandemic Is Declared, According to a Virologist.

CEOs have ‘no clue’ on coronavirus impact in what could be a lost year for earnings, investor says.

Coronavirus Spreads: Whisky & Spirits Industry To Lose 200 Million In 2020. Weird, you think people would be drinking more.

European Stocks Fall Again as More Coronavirus Cases Are Reported Across The Continent.

Coronavirus Weakens China’s Powerful Propaganda Machine: Beijing is pushing tales of perseverance, but many young people are openly questioning the Communist Party’s message.

Here’s How China Is Hunting Down Coronavirus Critics: Post something about coronavirus online? Expect a visitor at your door.

Coronovirus fear: Chinatown’s restaurants suffering in New York City




Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.