www.marketwatch.com
I don’t have all the answers and I don’t think every business can be saved. I have seen government backed loans work to finance projects that otherwise banks would never touch. If a bank knows they are guaranteed to not lose the money lent (and guaranteed by the federal government) they have nothing to lose. If only a fraction of the businesses actually fail then the government is not on the hook for all of the loans. Let’s say 25% of the money lent goes to businesses that fail that means 75% of the loans are just repaid by the business and only 25% of the money ultimately comes from the federal government. Much better than having the government just give away 100% of the money or even worse do nothing.
Because there's a vaccine for the flu, we have a good idea how many people will die of the flu and how deaths can be minimized. By all accounts, the death rate for this is many times higher than the flu and is far more easily spread.
âThe attack rate is relatively high as thereâs no immunity to it.â Why coronavirus was never going to be just another flu
President Trump suspended all travel to the U.S. from Europe and declared a national emergency over COVID-19’s rapid spread.
Even in the article you post, it is clear there are many unknowns. To quote:
On average, seasonal flu strains kill about 0.1 percent of people who become infected. The 1918 flu had an unusually high fatality rate, around 2 percent. Because it was so contagious, that flu killed tens of millions of people.
Early estimates of the coronavirus death rate from China, the center of the outbreak, were about 2 percent. But a new report on 1,099 cases from many parts of China, published on Friday in The New England Journal of Medicine, finds a lower rate: 1.4 percent.
Whether it's 2% or 1.4%, that's many many times higher than how many people die from the flu, even though it's still a small percentage.
How warm was it?Here in Florida, The Players Championship is about to begin. For those who don't know about the location, it's in Ponte Vedra (just south of Jacksonville) and hosted by the Marriott Sawgrass hotel. The course is just behind the main hotel building. I was just doing some contract work there today. All the players and their families plus tons of fans are crowding in there (took an extra 15 minutes to drive down A1A this morning at 7am!). Lots and lots of travelers from all over the world. Seems like this would be something on the same level or worse than being in a theme park. Look at the way those people are all packed together:
P.S. I walked out the front entrance just as Michelle Wie was summoning her car from valet. I did not realize how tall she is! Almost as tall as me.
P.P.S. The idiot valet must not have known who she was because he asked her name to find the key. She said, "Wie. W. I. E."
Come on! You're front of house. Learn the top players names so you don't look like a doofus!
P.P.P.S. If I didn't get Coronavirus today it will be a miracle. People from all over the world shared the same air as me, and I heard a number of coughs! So...about to find out how good my immune system is!
The flu season started in October. Not a valid comparison. Come back in 6 months.
Its a windfall for some people but doesn‘t help a lot of others. The biggest risk is hourly workers with no paid sick leave continue to show up for work even when sick because they can‘t afford to not work. That makes the disease spread worse and more people get sick.
Not worrisome at all if you just assume that (a) you will eventually get it, and (b) so will everybody else.
Yes but if it goes the entire year those lower wage workers will get the benefit of people going out and spending money.
Agreed. I think starting with the payroll tax thing is putting the cart before the horse. Start with the immediate need. Address the major health issue. Then when the dust settles if we are stuck in a longer term recession (possible but not guaranteed to happen) then start with more traditional economic stimulus. I get that politics get in the way in an election year, but this shouldn’t be a political issue. People will get sick and die and limiting both of those things should be the top concern of the government. The best way to revive the stock market and fight off a long term economic downturn is to tackle this virus aggressively and end the crisis as quickly as possible. That starts with mass testing, clear and easy to follow instructions on what all people need to do and most importantly get people to follow the quarantine if sick and not be as likely to infect others.
Just one example, but probably not
www.cbsnews.com
70's today. Low will be 60's. Highs into the 80's later in the week.
Also relevant (US statistics for the years provided):
