The
world is a safer place they say.
The economy is fine they say.
Unemployment is at an all time low they say.
Stock market is up they say.
Get the fuck ready
I say.
Spiritually I mean.
1 Thessalonians 5:3
While people are saying,
“Peace and safety,”
destruction will come on them suddenly,
as labor pains on a pregnant woman, and they will not escape.
I said that like six weeks ago.
And now?
"While the US is yet to suffer a major outbreak, federal health officials warned on Tuesday that it's inevitable.
"Investors are deluding themselves about how severe the coronavirus outbreak will be," the economist Nouriel Roubini wrote in a Financial Times column. "Despite this week's big sell-off in equity markets, the worst is yet to come."
"The one-two punch of a US-China trade war and a public-health crisis could hammer economic growth in China and elsewhere, said Jasper Lawler, the head of research at London Capital Group, in a morning note.
"The two global headwinds to strike China in such short order could do the unthinkable and put the global economy into recession," he wrote.
"...do the unthinkable..."
"The continued threat of coronavirus to consumer spending, supply chains, and trade is bringing the world "to the brink of a global recession" in 2020, the CEO of financial services firm deVere Group said Wednesday."
"Clearly, this will hit global supply chains, economies across the world and ultimately government coffers too."
"A pandemic contained within Asia would keep the hit to global growth to 0.5% - roughly $400 billion - in 2020 before a quick recovery in 2021.
A global pandemic would cut 1.3% - about $1.1 trillion - from the economists' baseline projection as a labor shortage, weakened tourism, and lower capital investment shocks the world economy, Oxford estimated.
(If it was contained to Asia it wouldn't be a pandemic as a pandemic is a sustained epidemic on two or more continents BTW)
"Together they could push the world to the brink of global recession this year," he added. "Whilst I am confident that we'll narrowly avoid a global recession in 2020, no-one can accurately predict the future - as we have seen with coronavirus, which markets wrongly assumed would be limited to mainly China."
"which markets wrongly assumed"
Hate that shit.
Markets don't assume, they are incapable of thought.
People assume.
1 Thessalonians 5:3
While people are saying,
“Peace and safety,”
destruction will come on them suddenly,
as labor pains on a pregnant woman, and they will not escape.
"Ultimately we expect we will see community spread in the United States," Dr. Nancy Messonnier, director of the National Center for Immunization and Respiratory Diseases, told reporters during a conference call. "It's not a question of if this will happen, but when this will happen, and how many people in this country will have severe illnesses."
Messonnier also said: "We are asking the American public to prepare for the expectation that this might be bad."
That assessment was echoed by Health and Human Services Secretary Alex Azar, who told a Senate subcommittee on Tuesday there would likely be additional cases of coronavirus in the US and called it "an unprecedented, potentially severe health challenge globally."
President Trump in a tweet on Monday said that the coronavirus was "very much under control" and insisted a day later that "the whole situation will start working out."
That position was mirrored by Larry Kudlow, the director of the National Economic Council. He said in a CNBC interview: "We have contained this. I won't say it's airtight, but it's pretty close to airtight."
(I have a very strong dislike for Mr Kudlow on several fronts but it's to long to get into here today)
The White House set up a task force last month, but lawmakers are growing concerned the administration isn't prepared to deal with a rapid outbreak.
They have good reason to be concerned.
"On the home front, health experts have long said the US is underprepared for a pandemic. But right now the situation looks even more precarious.
Just one day after DRC’s Ebola outbreak was declared, the head of global health security on the White House’s National Security Council, Rear Adm. Tim Ziemer, left the Trump administration amid a reorganization by national security adviser John Bolton, the Huffington Post reported this week.
The health security team Ziemer was leading has also been dismantled. That means the top White House official who would lead a pandemic response, along with his team, are gone.
That was May of 2018.
Do you really think we are more prepared now?
It's a double whammy for which there is no fix.
Tax cuts and stimulus are useless here.
Not only will people not be buying?
They are not gonna be able to produce as well.
Supply chain disruptions etc.
I'm laying there last night and for whatever reason,
"Rat Race" by Bob Marley came to mind.
I hadn't heard it in a while but that lyric:
"Oh, it's a disgrace
To see the human race
In a rat race, yeah"
was echoing in my mind
so I listened to it for the first time in a long time.
and...
When you think it's peace and safety
A sudden destruction
Collective security for surety, yeah!
Don't forget your history
Know your destiny
In the abundance of water
The fool is thirsty
Rat race
Yep. Accident right?
I'm used to it now.
Doesn't even phase me.
Of course those lyrics are in that song.
Why wouldn't they be?
And that just the first topic to post about today :-).
I love you Lucy.
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