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I think that's likely worldwide. I mean, how is it possible that we only have 1,600 cases out of 350 million people? I think the number is far higher and many people are just not getting tested because they think it's a cold or normal flu.
There are a lot of people out there who legitimately think they have the coronavirus, and so do their doctors, but the CDC will not allow doctors to test them for coronavirus. These people are being told to quarantine themselves for two weeks without being tested. They can test them for other things, but not coronavirus. And without that test, the coronavirus can't be confirmed.
People are not getting tested because they literally don't meet the government's very strict criteria to get tested. Basically, unless you're sick enough to be hospitalized and you've knowingly been in contact with someone who's had a laboratory-confirmed coronavirus diagnosis (or unless you're Mark Meadows or something) you don't qualify for a test. This is how Trump can say America has relatively few confirmed coronavirus cases. It's totally irresponsible and reckless.
You have some excellent points. There's no doubt that hysterical panic is ruling the day. Easy to blame Trump for everything.
Wall Street has suddenly awakened to the realization that as China suffers short term economic distress, it will pull the world into a deep recession. Maybe and maybe not. It seems that China is rapidly seeing a decrease in Covid 19 illnesses and deaths, as the virus makes its way around the globe. Not only are we experiencing a health crisis, we are quickly plunging into a potentially severe economic downturn. As China recovers and ramps its manufacturing sector back up (it already has in some areas) it will find a smaller base of customers in the US and elsewhere.
Monetary policy won't mitigate this crisis, and the Fed seems aware of this. Congress needs to step up and pass a large and comprehensive fiscal stimulus package.
What about China’s experience can be leveraged by us?
What about China’s experience can be leveraged by us?
Probably nothing. China hid the problem from the rest of the world, and by the time they took it seriously, it was too late. Had they been candid, it's possible that a vaccine would now be available. In reality, the virus is running its course there, like it will throughout the globe over time.
We have three battles to fight in this country:
1. Health crisis addressing covid19, pending a vaccine.
2. Crisis of confidence.
3. Economic fallout due to real or perceived long term costs of this health crisis.
Fed has done their part, to the extent that they can. A major stimulus package by Congress would go a long way in restoring confidence to Main Street and Wall Street. That's a start.
There are a lot of people out there who legitimately think they have the coronavirus, and so do their doctors, but the CDC will not allow doctors to test them for coronavirus. These people are being told to quarantine themselves for two weeks without being tested. They can test them for other things, but not coronavirus. And without that test, the coronavirus can't be confirmed.
People are not getting tested because they literally don't meet the government's very strict criteria to get tested. Basically, unless you're sick enough to be hospitalized and you've knowingly been in contact with someone who's had a laboratory-confirmed coronavirus diagnosis (or unless you're Mark Meadows or something) you don't qualify for a test. This is how Trump can say America has relatively few confirmed coronavirus cases. It's totally irresponsible and reckless.
The CDC is correct. Everyone is in a state of panic.
I just watched a late night show, where""Dr. Oz" was one of the guests. He said that if you simply washed your hands regularly, and correctly, you would reduce your chances of catching covid19 by 50%. People are freaking out for no reason. Exercise caution and you will be fine. Even if you should catch covid19, the odds are strongly that you will feel only mild flu like symptoms.
The CDC is correct. Everyone is in a state of panic.
I just watched a late night show, where""Dr. Oz" was one of the guests. He said that if you simply washed your hands regularly, and correctly, you would reduce your chances of catching covid19 by 50%. People are freaking out for no reason. Exercise caution and you will be fine. Even if you should catch covid19, the odds are strongly that you will feel only mild flu like symptoms.
Why does this remind me of Y2K ?
50% reduction doesn’t sound terribly reassuring. And you will be fine if you are not in a high-risk group. For them it’s hitting much harder than a mild flu. Odds are even if you aren’t in one of those groups, that you are in close contact with someone that is.
Y2K was a theoretical problem in which the theory was proven wrong. There is nothing theoretical about covid-19.
There is a “nightmare scenario” for a global disease spreading like wildfire. This is it. We are living it. This is the “what if the person who runs the water treatment plant or the people who run NORAD can’t get to work scenario”. It is HIGHLY CONTAGIOUS with NO vaccine and NO treatment and it’s going to be here in the US for at least another month.
50% reduction doesn’t sound terribly reassuring. And you will be fine if you are not in a high-risk group. For them it’s hitting much harder than a mild flu. Odds are even if you aren’t in one of those groups, that you are in close contact with someone that is.
Y2K was a theoretical problem in which the theory was proven wrong. There is nothing theoretical about covid-19.
Well then by all means, PANIC and buy every last roll of toilet paper on the store shelf. That’s the problem and the far greater risk. A percentage of the population (even if not the majority) is behaving irrationally and buying up all the rolls of toilet paper, hand sanitizer, masks, demanding that schools be closed, and that’s going to put a strain on resources. As I’ve said before, I’m far greater concerned about the strain on resources because of irrational fear and panic...leading to the shutting down of services and unavailability of supplies that are needed for everyday life or other emergencies.
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