Today, amidst a veritable Wall Street panic, all three major U.S. stock averages opened sharply lower in a plunge so steep it triggered a trading halt due to safeguards put in place to avoid a repeat of 1987’s “Black Monday” crash. The Dow dropped a record 2,000 out of the starting gate. S&P 500 was on track for its largest one-day percentage drop since December 2008, the height of the financial crisis.
Wall Street tumbled on Monday and recession fears loomed large as plummeting oil prices and ongoing coronavirus worries sparked a panic-driven sell-off, sending investors fleeing risk for safety on the anniversary of the U.S. stock market’s longest-ever bull run…
The rout began over the weekend when the oil supply pact between Saudi Arabia and Russia collapsed and both countries vowed to hike production amid weakening global demand due to the coronavirus and signs of an economic slowdown.
Oil prices crashed to their lowest since the 1991 Gulf war, with Brent crude futures last down 22.05% and front-month WTI falling 22.3%, sending the S&P Energy index down 19.3%, which would be its largest one-day decline since October 2008.
The Dow Jones Industrial Average fell 2,017.64 points, or 7.8%, to 23,847.14, the S&P 500 lost 221.98 points, or 7.47%, to 2,750.39 and the Nasdaq Composite dropped 578.54 points, or 6.75%, to 7,997.08… Apple Inc shares fell 6.8% after data showed the company sold fewer than 500,000 smartphones in China in February amid the coronavirus crisis.
MacDailyNews Take: And you thought sheep were herdable animals.
The real virus is the panic. #coronavirus #CoronavirusOutbreak @elonmusk
#marketcrash #marketcrash2020 https://t.co/tONjs0PgUc pic.twitter.com/42d8JCS4Js— MacDailyNews (@MacDailyNews) March 9, 2020
Be fearful when others are greedy. Be greedy when others are fearful. — Warren Buffett
MDNs takes on this Coronavirus thing are way too optimistic. Do not back up the truck yet. This has a long way to run yet..,,
The media hype on this has not only caused panic, but has cost the economy trillions. The sooner we all get COVID-19 and recover, the sooner we can get back to normal.
Hopefully we can learn from this blatant overreaction and not let such media-fueled panic happen again. Human nature being what it is, though, it’ll likely happen over and over.
MDN is entirely correct to characterize this as “obscene amount of coronavirus hysterics amplified by the media/social media echo chamber.”
I believe I can say with confidence that the market drop has nothing to do with social media. The big traders, the ones who’s buy and sell orders cause the market to move like it has been don’t get there data from facebook and twitter. The rest of us, those glued to social media for news, don’t own enough stock to cause the wild swings we have seen so far, even if we all sold everything we own at once.
China muzzled the whistleblowing doctor and controlled their media, and it led directly to the spread internationally.
Iran tried to pin it on an American conspiracy to reduce the legitimacy of their sham election. They had a visibly ill official claim on TV there was nothing wrong. Now, several dozen members of the Iranian parliament and the special advisory council to the supreme leader are confirmed cases, and two have died. Let me rephrase: Two of the most privileged, high-ranking members of that country’s government, who’d get the best medical care possible given the sanctions, have died because they thought it was overhyped.
As with most things, there’s a middle ground between the extremes of “PANIC! BUY ALL THE COSTCO TOILET PAPER!!1!” and “Nothing to see here, everyone’s overreacting”.
Of course some people are going overboard, that’s human nature. In general, however, most media and most people are being levelheaded and reasonable about this.
To blame the press for any overreaction is pure hypocrisy. MDN, is part of the press. (Feel free to disagree if you don’t consider yourself mainstream.) Tweety in Chief uses the lowest common denominator mainstream brand of social media as a crude press platform without quality controls. He appears willing to avoid his day job in order to be an unpaid opinion writer for the press — with a very poor objective fact checking record, it should be noted.
Declaring anything an overreaction at this point is pure opinion. The health authorities are trying to nip this thing in the bud before it really blows up. Italy couldn’t react fast enough and they are now quarantining entire cities like China. If they didn’t, what do you suppose would happen?
The people whining about this being some kind of overreaction either don’t live in an affected area or they are picking apples-and-oranges comparisons. They are using simplistic thinking in an attempt to justify their own tendencies for inaction.
if tens of thousands of people die every year to known influenza strains, then why are you projecting fewer deaths from a new family of viruses that has no vaccine???
since the behaviour (transmission, ability for humans to build up immunity, etc) of this new family of coronaviruses is not completely known, it is also unknown how fast mutation might occur, which could render the first attempts at vaccine futile.
if the world cultures includes all kinds of unsanitary practices, why do you imagine that a week or two of intense hand washing could halt the spread of a virus?
influenza has been studied and documented for hundreds of years. This coronavirus has been studied for less than 4 months. Useful comparisons cannot be made yet. Just like player statistics after one game of a season are basically meaningless to the end of season MVP voting, it will take time for all the numbers to come in.
reported symptoms of COVID-19 include many identical symptoms to mild diseases that a healthy adult may shrug off, which actually accelerates the spread of the disease to people with less ability to withstand lung infections. Fatality rates reported thus far vary widely, making it difficult to provide crisp guidance.
Though it’s very difficult to track with precision, Coronavirus cases reported thus far may have had up to one week of gestation period between infection and obvious symptoms. That means people who think they’re healthy could be spreading the disease unknowingly.
Like it or not, western corporations ran to communist China for the last ~4-5 decades as fast as they could for cheap labor. Now that that a significant chunk of that labor is quarantined by a nondemocratic single-party state, western corporations and their investors have little choice but to pound sand. The widgets they ordered from China aren’t going to ship on time. That obviously is going to have a severe impact to the stock market. Not to mention all kinds of non-Apple related stock impacts that cannot be explained by simple means. It certainly doesn’t help when the current administration has been fueling the market bubble incessantly since entering office. It is not useful to whine about stock prices when communities from coast to coast are busy asking for help with test kits, training, quarantine and other urgently needed supplies from DOMESTIC SOURCES, etc. The messaging from this administration proves that billionaire wannabes in ivory towers aren’t very adept at addressing the needs of people on the front lines. All that is relevant but completely unrelated to the Mac.
Long story short: MDN, stick to the Mac and leave all things related to contagions, including the stock market, out of your ad laden WordPress blog. You’re not doing Mac users nor AAPL investors any favors.
“In general, however, most media and most people are being levelheaded and reasonable about this.”
NO! This is the most media HYPED and OVERREACTION in HISTORY. No level heads to be found in the media or Democrat Party. President Trump and his team are the adults in the room dealing with it and not a shred of credit while the media and Democrats are fanning the hysterical flames.
Nuff said…
Ah…Slavish Sycophant GoeB returns with a cracker.
What part of…
“Coronavirus is a HOAX”
“It’s a Democratic HOAX”
“We’re the Nr. 1 prepared nation in the world”
“…Obama rule for testing we overruled”…it actually didn’t exist.
That the CDC under ‘his’ watch refused to implement the WHO test and subsequently releasing a faulty, ineffective test procedure – to name a few so-called dealing_with_it efforts….
Shows one scintilla of evidence that there are “adults in the room”?
Two weeks ago 13 US infections
Now, over 1000
Two weeks time…you do the math.
I really can’t tell where your stubborn denial will end. Since you call folk ‘sonny’ I presume you are in the age demographic that really should want the fullest information possible, the most objectively truthful scenario for the unfolding events and the best possible implementation of healthcare- for your and the nation’s benefit. You are getting none of this and yet you continually whinge at the fringes of reality about “fairness” and “media conspiracy”….all to the detriment of your future prospects.
It takes all sorts as they say.
The ORIGINAL “slavish sycophant” to USER and others, meh…🤣
What qualifies you to judge what the appropriate reaction should be, Goeb?
How do you determine that this is the most in HISTORY?
You clearly have a very overinflated opinion of yourself.
Had you read the tweetstorms coming from your orange hero WHO IS NOT IN THE ROOM, you would see that he is not acting as an adult. Neither do you when you turn everything into stupid partisan politics.
Let us know when the CDC can declare that all heath agencies from coast to coast have access to Coronavirus test kits. Surely the adult in the room would be working on that as a first priority … right?
No, instead the administration is clamping down on public access so that citizens won’t see all the scrambling behind closed doors. Who knew that public health information needed to be classified by your government? If any non-GOP public official did this you would be screaming bloody murder.
https://www.reuters.com/article/us-health-coronavirus-secrecy-exclusive/exclusive-white-house-told-federal-health-agency-to-classify-coronavirus-deliberations-sources-idUSKBN20Y2LM
There are many more things in play than just the virus. The markets aren’t even officially in bear territory yet.
If you believe the markets are accurate and correct themselves, then you would stick to your values and NOT ask for government interference this time around. However just watch as in the coming days and weeks this administration like several before it start marching to the beat of the Wall Street drummers. Gotta protect Wall Street. Trickle down is good. Socialism for the rich never hurt anybody! Orange puppet can’t have it both ways. If the market is independent and fair, then he can’t claim full credit for its bubble. If on the other hand he continues to intercede into open markets as he as done since day one with political pressure on the Fed, pandering tax cuts to campaign donors, welfare to tariff affected corporations, special exemptions to certain importers, etc — then the administration needs to own the full market that they attempt to manipulate.
Goeb: note that I was not in favor of most of the stimulus spending in 2009 either. It’s not a partisan issue — both parties are whores to their Wall Street pimps. It just so happens that Orange Liar pretends he isn’t beholden to them. Another day, another lie from him.
With regard to AAPL — Apple already pulled back their investor guidance. It’s likely profits will drop dramatically for at least 2 quarters while units from Hon-Hai Chinese factories take a hit, and then demand globally takes a hit. Investors have to rely on Apple to provide reassurance of product availability and to announce if any products will be delayed. The silence from Apple is deafening. Cookie is holding his breath like any other Chinese outsourcer right now. He has zero ability to sell anything if Xi tightens the quarantines. It really is too bad Cookie the Outsourcing Genius simply couldn’t find a second manufacturing site on the other side of the planet with all the cash he had at his disposal, which is now burning in the Stock Repurchase furnace.
“The sooner we all get COVID-19 and recover, the sooner we can get back to normal.” Absolutely wrong as this will overwhelm your country’s medical facilities and increase the morbidity and mortality rates. What is needed is a more gradual infection that peaks with a large number of formally infected members of the population creating a barrier to further spread. This needs to be supported by decisive and extensive fiscal intervention by the federal government which is also supported by state governments.
The money allocated by the U.S. Congress is a drop in the ocean and I’m waiting to see how much the federal government is prepared to spend. You don’t want money going directly into people’s pockets but business needs access to credit to keep the wheels of business moving.
My other problem with America’s approach is the financial burden of COVID-19 testing. In Australia it’s free whereas in the US it is based on insurance and many Americans just can’t afford the test and that will lead to the further spread of the virus as well.
Economically, it comes down to this: If you want a V shaped economic shock then go in hard early, with your response being extensive. If you want a U shaped recovery then be a little bit more tentative and dribble out your response. If you want a L shaped economic shock (where you bounce along the bottom for a fair while) then just throw rhetoric at the virus and then see where that get’s you.
There’s some excellent modelling that’s been done by Warrick McKibbon and Roshen Fernando that is based on the SARS epidemic and I encourage people to access this to see the different scenarios and GDP effects.
In Australia we’re looking at around 100,000 deaths from the virus from a 2 percent mortality rate from a population of 25 million people. You might want to do the math for the US.
Well said!…👍🏻
MDN:take: Tell that to the families of the nearly 4,000 people who have died from the infection… so far. Traders hate uncertainty. The virus is bad enough. Our government’s confusing and inconsistent messaging has amplified the uncertainty. The Saudi drop in oil prices was intended to make things worse, to cause a crash
Tell that to the families of the 20,000 – 52,000 people who die EACH YEAR in the U.S. ALONE from the seasonal flu who don’t move the market one penny.
Some badly needed perspective from MDN’s Take earlier today:
The Centers for Disease Control and Prevention (CDC) estimates that, from October 1, 2019 – February 29, 2020, there have been:
• 34 million – 49 million cases of seasonal influenza
• 16 million – 23 million influenza medical visits
• 350,000 – 620,000 influenza hospitalizations
• 20,000 – 52,000 influenza deaths
That’s just in the U.S.
Worldwide COVID-19 stats as per Johns Hopkins CSSE:
• 111,354 cases of COVID-19
• 62,375 total recovered
• 3,892 COVID-19 deaths
You’re missing my point. Sorry if I was too obtuse for you.
All the stats you cite, such as seasonal flu, are knowns and expected, so the don’t spook the market. It’s not the virus itself or the death rate, it’s that we don’t really know how this is going to progress. If the virus dies out in the spring or is contained, the market will recover sooner. If things continue to get worse and it seems governments are unable to control its spread, the market will continue to decline.
If you want to know why public health officials and the markets are concerned with the Trump Administration’s mixed message on Covid-19, read any of the several excellent books on the 1918 “Spanish Influenza” pandemic that killed up to 100 million people worldwide. The authors agree that many of those deaths were avoidable if governments around the world (including the Wilson Administration in the US) had not cited “national security” to prevent the free flow of information. This is from the conclusion of The Great Influenza by John M. Barry (2005):
“The final lesson of 1918, a simple one yet one most difficult to execute, is that… those in authority must retain the public’s trust. The way to do that is to distort nothing, to put the best face on nothing, to try to manipulate no one. Lincoln said that first and best. A leader must make whatever horror exists concrete. Only then will people be able to break it apart.”
“If you want to know why public health officials and the markets are concerned with the Trump Administration’s mixed message on Covid-19, read any of the several excellent books on the 1918 “Spanish Influenza” pandemic”
The situation is fluid and changes day by day and minute by minute.
Once again you suffer from “Trump Derangement Syndrome” and don’t let a day go by without blaming Trump directly or indirectly.
To compare our great president with the best health care on the planet at his disposal, rapid response working on the problem daily and assembling an A-Team to deal with it is truly unbelievable. Comparing today with 1918 is LAUGHABLE and RIDICULOUS.
You are only interested in making Trump look bad through holier than thou wording, whether by hook or crook, in an election year…
I was not comparing the resources available to federal, state, and local public health authorities in 1918 and today. Obviously, we have medical and scientific skills they did not even dream of. What I was comparing were the efforts of President Wilson and President Trump to put a happy face on the situation and condemn anyone who undercut that message as an enemy of the American people. That cost thousands of lives in 1918 and it could do it again. The American people deserve candor, even if it affects public morale and stock prices.
“I was not comparing the resources available to federal, state, and local public health authorities in 1918 and today.”
Thank you for admitting your MISTAKES. Exactly what I posted, “Comparing today with 1918 is LAUGHABLE and RIDICULOUS.”
Totally different deflection specialist when called out a pitiful attempt to change your tune.
“The American people deserve candor, even if it affects public morale and stock prices.”
Wow. What a self righteous DISHONEST ego you have…
Goeb again goes out of his way to defend the Orange Liar.
Trump makes a bad situation worse with his stupid tweets. Period. You knew that Trump was a political hack when chose to take a sharpie to NWS hurricane maps but you choose to follow His Ignorance instead. Now another crisis looms and Tweetie (as well as MDN, apparently) thinks that attacks on the press is a worthwhile endeavor.
Meanwhile:
– Trump and his wife have cancelled all their public engagements while Trump tells everyone else to go back to business as usual and pretend nothing can happen.
-The WH has diverged with the advice of the CDC, which has told elderly and vulnerable people to avoid large crowds. Insiders in the WH have said that most efforts have been spent trying to spin a reinforcing message to Wall Street instead of accurate health advice to the public.
– Trump has spent the last several days attacking democratic governors of several states, making false assurances while states were incurring significant issues
– Trump used his first coronavirus press conference to claim that his off-the-cuff lowball estimate of health costs was a lot of money but he would take whatever he could get. When Trump got $8.3 billion, it was clear he didn’t know what to do with it even though several states are asking for testing kits, educational materials, and help managing the strains on healthcare providers
– Word is that in addition to pressuring for a Fed rate cut, the GOP is mulling over more corporate socialism with Trump’s blessing, instead of putting healthcare first on the agenda.
– Trump has spent the last day tweeting about Obama, the democratic party, and the previous president. Nothing at all indicating he’s got any ability to manage or contain the spread of the virus.
Is the president visiting any healthcare facility, learning about the virus, or consulting medical professionals? No, his agenda today was to spend the morning at Sea-at-the-Lake, and in the afternoon to hold a closed door fundraiser in Orlando. Hard worker, that one. What a leader…… NOT.
Once again, you got NOTHING, Sonny…
“@ Goeb: I provided concrete examples of poor management.”
Like I said and I repeat, what is “concrete” you got NOTHING, Sonny. President Trump and his team with Mike Pence as the point man are dealing with the crisis that is more media driven and overblown than any other outbreak in history, particularly if you look at the media response to SARS, HN1, etc., etc.
When a Republican is in the White House it never fails the media irresponsibility that unfairly creates an overblown FALSE NARRATIVE to damage Republicans. Gee, what a surprise. I have never seen media overreactions on this manufactured level in my lifetime, a new low.
For example, less than two dozen have died in the U.S. from the virus, lightning kills 6,000 a year, car accidents over 40,000 and the common flu kills between 25,000 to 50,000 a year. No media overreaction hype there, obviously.
For those that don’t see the media hyping this for the benefit of the Democrats in the Fall presidential election are either brainless or purposely deceitful.
No worries, President Trump is a MASTER multitasker dealing with the virus, fundraising and DESERVES long overdue R&R. Obviously, you don’t agree.
Opposition Democrat voters such as yourself only look to criticize the hardest working president we have ever seen and will NOT give him credit for ANYTHING. We get that.
Again, you got NOTHING…
The situation is so fluid that Tweetie in Chief had to go golfing at his club this morning, then head out to a closed-door fundraiser this evening. Hell of a job, Trumpie.
@ Goeb: I provided concrete examples of poor management.
Out of kindness, I refrained from posting a picture of Trump fiddling away (“Who knows what this means, but it sounds good to me!”) while avoiding his real job.
…. and you respond with a weak half sentence attempt at a retort.
Sorry you can’t defend the indefensible, Goeb. Hope you get a better job soon over in Moscow.
The only thing Trump has to do with Coronavirus is that he just happens to be the guy in charge when it hit.
Just how well the country response … well, that’s a different factor. Time will tell.
In the meantime, some of the current projections are estimating nearly a half million fatalities in the USA within this Calendar Year. That’s the magnitude of the “downside risk” – – and its underlying why US Life Insurance Companies have taken huge hits in their MarketCap.
Case in point:
MET: 52 to 32 –> 40% decline
PRU: 95 to 58 –> 40% decline
Why are we comparing annual death rates for known diseases to one that has no cure?
The year isn’t over yet and COVID-19 can spread exponentially. As a mathematical genius, why don’t you project how many deaths might occur in the next 10 months if we all just ignore common sense hygienic guides.
During the next 10 days more people in the United States will have access to the corona virus Test. With more people being tested, the number of verified cases of infection will increase by hundreds (and potentially thousands) . . . so if you think that people are in “panic” mode now, wait until that happens.
It is the Saudi-Russia tug of war about the price of oil that has caused the market decline, NOT the fear of COVID-19 spreading !
Despite the simplistic narratives, the market is affected by many forces. These two aren’t mutually exclusive.
The Saudi-Russian tiff would never have happened if there hadn’t been a dramatic drop in demand, and that would never have happened if not for the virus. Have you seen the satellite photos of how clear the air has been over China lately? The drop in industrial activity and travel meant that less fossil fuel has been burned, there and many other places.
The Kingdom wanted to cut production to match demand and sustain price. The Russian economy needs a constant infusion of petrodollars, so they refused. Saudi retaliated by increasing their production to drop prices below the Russian cost of production.
The budget here in Texas was based on the presumption that oil would be selling for around $50/barrel during 2020-21. It was selling for $32 today. That is practically the formula for a recession in the production, refining, and chemical industries that drive our state economy. It is also an almost inevitable side effect of the drop in demand driven by the virus.
Take a guess what happens to the coal producers in West Virginia, Kentucky, Montana, et al, if natural gas becomes an even cheaper alternative. Do you think the unemployed folks might remember who promised to bring all their jobs back?
So, the stock market crash today was, in part, due to the collapse of oil prices, but that was itself indirectly caused by the virus.
The Saudi Russian oil wars have gone since early 80s, with the Soviet Union collapsing because of R Reagan support for Saudi oil dumping… There is LOTS more happening with Russia and Kazakhstan wanting to create an alternative OPEC , and other under the cover frictions… Stocks fluctuation may also depend on chief trader’s stock irregular indigestion as well (I actually witness such an occurrence myself, as a junior commodity trader 20 years ago, we are all human after all) .. Covid 19 is just variation of a flu, only far less deadly and , its seasonal, IT GOES AWAY…. I don’t recall market panicking over Ebola, which is FAR deadlier …. Wuhan Covid 19 had taken its toll on the markets correction few days prior on companies like Apple, etc…. I forecast huge rally during coming days …. Meanwhile stock up on more toilet paper… According to few analists on forums it somehow helps to fight COVID 19 🙂
“I don’t recall market panicking over Ebola, which is FAR deadlier ….”
“Covid 19 is just variation of a flu, only far less deadly”
Exactly right on BOTH COUNTS.
The injustice here is the overblown reaction by the media working against President Trump DAILY to damage his chances of winning re-election.
Nuff said…
Why are you lying?
COVID-19: Caused by one virus, the novel 2019 coronavirus, now called severe acute respiratory syndrome coronavirus 2, or SARS-CoV-2.
Influenza : Caused by any of several different types and strains of influenza viruses.
The truth is out there but you are too stupid to find it.
“An outbreak of coronavirus disease 2019 (COVID-19) caused by the 2019 novel coronavirus (SARS-CoV-2) began in Wuhan, Hubei Province, China in December 2019.” More here:
https://www.cdc.gov/mmwr/volumes/69/wr/mm6908e1.htm
“COVID-19 and the flu are both contagious viruses that cause respiratory illness. Symptoms including fever, cough and shortness of breath may appear 2-14 days after exposure. Human coronaviruses are common throughout the world.”
—Yale New Haven Health
“Although many types of viruses can cause a common cold, rhinoviruses are the most common culprit.”
— Mayo Clinic
“Influenza — also known as the flu — is a contagious viral infection that attacks your respiratory system. Influenza viruses that infect humans can be classified into three main groups: A, B, and C. Type A influenza infection can be serious and cause widespread outbreaks and disease.”
— Healthline
Bottom Line: Similar to flu or a cold BOTH are viruses and have similar symptoms. Technically speaking, yes they are different for all the self righteous pinheads out there. I believe @Kot post was generally speaking and not a doctorate thesis in the medical field. RELAX PEOPLE. 🙄
I could not care less about your childish name calling every time you respond to my posts.
Meh…
Yes, they are both viruses, just as redwood trees and carrots are both plants. They have some similar symptoms, but there are significant differences.
Ordinary seasonal flu is less contagious and significantly (10 times) less deadly. Covid-19, for unknown as yet reasons, is not very dangerous to children, while flu affects the very young much like the very old. Some strains of flu, like the 1918 pandemic flu, are actually the most deadly to healthy adults with a strong immune system.
The diseases have different incubation and recovery periods. They kill through different mechanisms. They may require different treatment and different isolation rules.
So, other than being completely different, they are the same.
https://www.mercurynews.com/2020/03/11/fact-check-a-list-of-28-ways-trump-and-his-team-have-been-dishonest-about-the-coronavirus/
Keep deluding yourself Goeb.
MDN:
TAKE DOWN THESE LIES!
Covid-19 is not “a variation of flu.” It is a different disease caused by a different family of viruses.
Coved-19 is not “far less deadly than flu.” It has a mortality rate in the range of 1%, which is at least ten times higher than seasonal flu. It’s mortality had a different distribution than flu, so it is disproportionately deadly for older people and those with underlying health conditions.
We do not know “it is seasonal.” It might be, or might not. It is still spreading in Singapore with the temperature near 90.
Even if it were seasonal, that does not mean “it goes away.” There is a Southern Hemisphere winter to sustain the virus until the next Northern Hemisphere winter.
Covid-19 is manageable with vigorous public health measures,but those measures will be ineffective if people do not take it seriously. They won’t if these lies gain currency.
TXUSER: “Coved-19 is not “far less deadly than flu.” It has a mortality rate in the range of 1%, which is at least ten times higher than seasonal flu.”
Fact link please, not interested in your OPINION.
“Kindrachuk and other scientists stress that the jury is still out on the new coronavirus, and say that even if it turns out to be a relatively mild disease, health authorities are right to take it very seriously. But the sense that the media, public and some nations have over-reacted is beginning to seep into conversation. The current global panic in reaction to the emergence of a fairly mild new virus is wholly unjustified and amounts to mass hysteria. Based on the number of reported deaths when the paper was published Friday, it would actually produce a mortality rate of just 0.2 per cent — akin to that of influenzas. “We don’t freak out about seasonal flu, we experience it every year,” said Matthew Miller, a microbiologist who studies viruses at McMaster University.“ The people most likely to die from seasonal flu are the elderly and the very young … The same is very likely to be true with this new coronavirus outbreak.”
AGAIN: “produce a mortality rate of just 0.2 per cent — akin to that of influenzas.”
— National Post
Unless of course, you support the latest media attempt to damage the president in an election year because the Mueller investigation and Impeachment were EPIC FAILURES. Good luck, the Trump Team is executing a SUPERLATIVE EFFORT and as we see daily in the “fake media” you will not hear about it.
FLU throughout history caused MILLIONS of deaths:
“A category 2 Flu pandemic sometimes referred to as “the Hong Kong Flu,” the 1968 flu pandemic was caused by the H3N2 strain of the Influenza A virus. DEATH TOLL: 1 Million
“Asian Flu was a pandemic outbreak of Influenza A of the H2N2 subtype, that originated in China in 1956 and lasted until 1958.” DEATH TOLL: 2 Million
“Between 1918 and 1920 a disturbingly deadly outbreak of influenza tore across the globe, infecting over a third of the world’s population and ending the lives of 20 – 50 million people. Of the 500 million people infected in the 1918 pandemic, the mortality rate was estimated at 10% to 20%, with up to 25 million deaths in the first 25 weeks alone.” DEATH TOLL: 25-50 Million
— MPHONLINE
The irresponsible media hype is causing “hysteria” and the reason is more than obvious…
So your explanation for Greece and Albania shutting down their schools, France cancelling most public gatherings, Saudi Arabia, Israel, and Iran all barring religious pilgrims, and Italy shutting down the entire country is that they want to make President Trump look bad?
It is only possible to guess the mortality rate of a disease during its first outbreak. The article cited below shows the complexity of the problem. The WHO and CDC were both giving a figure of around 1% as their estimate last week. Since then, the WHO number seems to be rising towards 2% while the official US estimates have fallen. The crude mortality rate (deaths reported divided by cases reported) has consistently been close to 4%.
https://www.worldometers.info/coronavirus/coronavirus-death-rate/#correct
PS. The National Post article you cite was written on February 3. By March, the quoted authorities had changed their tune. From a March 2 CBC story:
Jason Kindrachuk, an assistant professor and Canada Research Chair in emerging viruses at the University of Manitoba, said the most recent situation reports and trends suggest a picture where the coronavirus will continue to spread globally.
“We’re in a position of fighting essentially a multiple front war against this virus,” he said. “How do you now start to contain something that is moving rapidly and transmitting rapidly across a number of regions, especially when we’re dealing with a global population that is used to travelling and moving as well.”
Kindrachuk questioned how vulnerable populations will cope with yet another virus, if it becomes endemic.
“Every addition of a new pathogen or a new infectious disease increases the public health care toll in those [vulnerable] regions … and ultimately has a much larger global impact in terms of both public health, as well as economic tolls.
“If this thing does become endemic, how do we now actually reposition ourselves to be able to compensate for this virus being a part of our lives?” he said.
10:26 p.m. @TxUSER:
“So your explanation for Greece and Albania shutting down their schools”
You continue to DEFLECT from my post and put words in my mouth and I will continue to call you out.
There is NO “so your,” sheesh. Please quote my post where I mentioned either Greece or Albania, hmmm? Save you the trouble, it does not exist.
Not a surprise you keep trying with no results, but I’m IMMUNE from dishonest getting down in the weeds off topic BAIT…
12:04 am @TxUSER
Yes, the rates go up daily from a contagious virus. No FIXED number EXISTS — the reality is fluid like running water…
Since I was apparently unclear, I will try again: if the reaction to the Covid-19 pandemic is a fraud being perpetrated by President Trump’s enemies in order to harm the American economy and make him look bad, why would Italy choose to shut down every business and public gathering in the country except groceries and pharmacies? Do you think they hate him that much?
Do you think that the rich Americans who have shuttered the NBA are all Democrats who are willing to take a financial bath just to spite the President?
I would answer both questions “no.” Their actions are a reasonable response to a public health emergency completely unrelated to their attitude towards Trump.
And your 12:04 post denying that Covid-19 has a distinctive mortality rate like every other viral disease is scientific nonsense. We don’t know what the rate is, and won’t until the outbreak is more than four months old, but it is clearly untrue that the rate is so wildly variable that no fixed number exists. Diseases don’t work like that.
Is that why Trump just set up a travel embargo?
“The only thing Trump has to do with Coronavirus is that he just happens to be the guy in charge when it hit.”
Well said and EXACTLY RIGHT. Thank you for a non-partisan factual and adult response, -hh.
That said, partisan smear merchants in the Democrat media and ORANGE HATERS everywhere are NOW working overtime.
Those two groups are only concerned with one SELFISH result, defeating President Trump in the 2020 election, and could not care less what this overblown hysteria does to the people and the economy.
Again, both never miss a chance to take advantage of a political opportunity for personal gain at the expense of everyone else…😡