WHAT THE CORONAVIRUS WILL DO TO OUR ECONOMY


China is far way from the United States, but we’re going to feel the effects of the coronavirus here soon. The Centers for Disease Control (CDC) are working on a vaccine to protect us from the coronavirus–but that is likely a year away. Meanwhile, the State Department has issued warnings not to travel to China or other Asian countries where the coronavirus is spreading. Russia has closed its borders with China. Like any virus like SARS and MERS, the way to protect yourself is to NOT come into contact with infected people. Avoid large crowds. Wash your hands frequently. Surgical face masks may help.

As the public health threat of the coronavirus grows, the impact on the U.S. Economy (and the World Economy) increases daily. Many corporations are scaling back their involvement with China because of the coronavirus outbreak. China’s medical services are stressed to the max. And, the probability of more coronavirus-like illnesses spreading is real. All of this will likely slow down economies all over the world. That Recession I predicted last year was thwarted by THREE Federal Reserve interest rate cuts. But now, the Fed has little power over the tsunami of illness and economic disruption heading our way. Fasten your seat belts!

29 thoughts on “WHAT THE CORONAVIRUS WILL DO TO OUR ECONOMY

  1. Jeff Smith

    Dr. Leana Wen, a widely respected health administrator, had an op-ed in the Baltimore Sun on Friday saying, yes, the coronavirus is a concern, but more of us are going to die from the flu every year than from that.

    Reply
    1. george Post author

      Jeff, that’s not cheery news. Right now about 8000 Americans have died from the flu…and the season isn’t over yet. Did Dr. Wen mention the thousands of people who suffer the after-effects of the flu and the coronavirus–lung damage, impaired immune system, etc.?

      Reply
    2. wolf

      The flu really is a big unknown for most people – many weak and elderly people die from it here in Europe too, I can’t believe that the new Corona virus will add many to that list.
      Already we see “constipation theories” on this – a Chinese woman claims that it was propagated by eating bat soup!

      Reply
  2. Jeff Meyerson

    But Wilbur (Yes, I’m Still Alive) Ross said it’s going to be good for our economy! Moron.

    It only made things worse that China kept a lid on the story for months rather than getting the word out and trying to contain the virus, rather than containing the story.

    I hope Patrick is careful where he travels for a while.

    Reply
    1. george Post author

      Jeff, so far, GOOGLE has Patrick traveling to the East Coast right now. He’ll be in Washington, D.C. next week. Apple has curtailed their executives from traveling to China for the foreseeable future. China tried to cover up the coronavirus but they’re coming clean now about the extent of the infestation.

      Reply
    1. george Post author

      Deb, apparently like SARS, the coronavirus used to be a disease that affected animals. It’s made the jump to humans and now the trouble starts. Thanks for the link!

      Reply
      1. Deb

        Yes—the whole premise of Quammen’s book is that viruses that used to affect only certain species (or, conversely, did not affect them but remained in them while the species acted as a “host”) are now, because of a variety of factors, affecting humans who have no immunity against these viruses. I think Quammen’s quiet, non-sensationalist style makes his theories even more foreboding.

      2. Deb

        There’s an entire chapter in Quammen’s book where he speculates (and freely admits that it’s speculation) about how AIDS made the century-long journey from being a monkey virus to becoming a global human epidemic—including biological, cultural, and social factors. I think his hypothesis is very plausible.

      3. george Post author

        Deb, not only is Quammen’s hypothesis plausible, but I think we’ll see other viruses start to take the same path as HIV. Scary stuff!

  3. Jeff Meyerson

    Is it a coincidence that I just got an offer for Richard (HOT ZONE) Preston’s THE COBRA EVENT for $1.99 on Kindle? I don’t think so!

    *cue the Twilight Zone music*

    Reply
  4. Cap'n Bob Napier

    I’d forgotten about your oft-repeated prediction about a recession in 2019, George, so here’s my reaction: NEENER, NEENER, NEENER!!!!

    Reply
    1. george Post author

      Bob, the Federal Reserve interest rates cuts postponed the Recession. But, like the mechanic in those old FRAM oil filter commercials said, “Pay me now, or pay me later!”

      Reply

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