From CNN, “Stock markets are falling around the world after the number of coronavirus cases surged in Italy and South Korea, putting two more major economies at risk from a virus that has already caused widespread disruption in China.” What’s the worry? The coronavirus is only just as deadly as the Spanish Flu of 1918-1919. “It is estimated that about 500 million people or one-third of the world’s population became infected with this virus. The number of deaths was estimated to be at least 50 million worldwide with about 675,000 occurring in the United States,” according to the CDC. Of course, given an economics/market standpoint, the “worry” is about consumption and profits. God forbid the worry be about a massive loss of human life. The only thing the markets are worried about is the ability of this pandemic to shift the timing of consumption — to realize profits sooner rather than later. That’s it! Like a loaded spring, people will bounce back to the malls, airports, restaurants, hair salons, factories, and exotic wild animal meat markets once the emergency passes with months of wealth sitting in their bank accounts eager to be spent. LOL. Trust me when I say economists aren’t worried about the mortality of the disease; they’re worried about people’s unwillingness to consume today because of the virus. That’s all!
Now, if only the coronavirus could target MAGA morons, RepubliKKKlans, and evil Evangelicals then the world would be a much better place.