Posted Mar 16, 2020 by Martin Armstrong
COMMENT: Marty, you are correct about this panic. Our local school said they would remain open unless there was even one case of the virus in town. We then received an email that said they were closing for 5 weeks because they were ordered by the state board of health. Nobody realizes what they are doing to people and the economy. There are over 600,000 deaths from the flu each year. This is less than 8,000. Cigarette smoking they claim is responsible for more than 480,000 deaths per year in the United States, including more than 41,000 deaths resulting from secondhand smoke exposure. This is insanity.
REPLY: I understand if nobody is social and you remain in your house without any contact with the outside world, it is true you will not get the flu or the Coronavirus. However, the people in the medical field have no idea that this recommendation is destroying the economy and disrupting everyone. This really is insane.
What is the world going to look like Post-Coronavirus? How much damage has been caused by this panic? Reduced mobility, the tourism crisis, drastic contraction of the economy, small business that cannot afford to pay salaries with everything shut down for 5 weeks. Will advertising collapse in newspapers forcing journalists to lose their jobs? Will governments seize pension funds to bailout government failures? What about the digitalization of central bank currencies? We are looking at radical reform of the international financial system and the likely bankruptcy of many businesses caused by this panic. The post-Coronavirus world is going to be very different.