Coronavirus COVID-19 *Global Health Pandemic* #21

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  • #801
The Governor of Washington state announced all schools closed though 24th of April. The local health officials
believe up to 2000 residents have the virus here in Washington.

I watched the movie "Contagion" last night, major mistake. It was eerie!
 
  • #802
Wife of CN PM tests positive.
 
  • #803
  • #804
  • #805
Let me tell you: the people on CNBC who are hammering on about this being a financial crisis are trying to pressure the government into more corporate bailouts. Bailouts for the hotels and cruise lines - not bailouts for regular people. I know because that was the bank strategy at certain failing banks in 2008 to get propped up.

This is a medical crisis. It is a human tragedy. People are going to die and we’re not prepared. It will be an employment crisis - but state governments are already expanding unemployment insurance to hopefully help hourly and gig workers who are laid off or have hours reduced. Hopefully we will ensure everyone who is affected gets appropriate support.

But when they spin it as a financial crisis it’s for one thing - to try to get the Fed to buy equities. The market crash is natural. Would you want to be holding hotel stocks knowing some resort companies may be filing bankruptcy if quarantines last months? I wouldn’t. But once there is a clear path for how the US is finally actually going to address this crisis investors will calm down and get back into stocks.

I strongly think people need to focus on the human response like ensuring there are enough tests and ventilators and let the rich people cry it out a little. Our 401ks won’t matter if our family members are dying.
 
  • #806
Auntie C-I don't anticipate a lack of electricity? Oh and we have a safe in our house/hidden and bolted into the floor :D

I don't necessarily anticipate it as a specific consequence of CV. But I can easily think of situations that may bring it -- let's say we have one of those shearing winds that takes down a few power poles. Maybe that might happen in my area in, say, April. But this April, perhaps a third of the power company's linemen are out with the virus, so our outage lasts a few days rather than a few hours. (we are served by a tiny electric cooperative as well as the fringe edges of the service area of one of the big power companies).

Or maybe a month from now a large earthquake hits the bay area and takes down the ability for online financial transactions -- and again, repairs take longer because many folks are out sick. (and before you say that's preposterous -- I was told by our county sheriff and OES office that such a scenario poses more of a risk to us than almost any other natural disaster -- due to how many people get their Social Security / SNAP benefits / retirement pensions etc electronically, that electronic disruption would cause severe consequences. Likely? No, but being prepared means (to me) including all kinds of unlikely-yet-possible scenarios in my planning.

Also, with any kind of major societal disruption, I would want the option to barter with my neighbors, and most of us don't take credit cards :p



RSBM
I don't mind. Actually I always have cash in the house. And I do use it for gas as I'm suspicious of meter readers at gas station pumps...and in NJ we don't/can't pump our own gas. But so many times I go to Wawa (NJ area convenience stores) or Starbucks and just use an app or a card. Debit cards are not dependent on electric or Internet, so not a problem. And my income is all deposited electronically so always some money in the account thankfully.

One summer we had a derecho come through and flattened trees, telephone poles, etc. Power and Internet out for a few days. I was still able to drive to my bank and withdraw some cash..and use my debit card.

I don't understand how debit cards can work without electricity? But I'll take your word for it. In my rural area I don't think that would be possible though.
 
  • #807
  • #808
Jersey City Mayor Enacts Liquor License Curfew


JERSEY CITY – Mayor Steven M. Fulop is implementing a precautionary 10 p.m. curfew effective immediately for all Jersey City establishments carrying a liquor license in an effort to reduce large uncontrolled crowd turnout as a preventative measure to reduce exposing the public to the pandemic COVID-19.

Further measures outlined in the Executive Order include a requirement for all establishments with allowable public capacity greater than 25 people – such as restaurants, places of worship, and special event venues – to maintain a record of all individuals entering the establishment through a sign-in sheet with information to be used solely for the purpose of preventing the spread of COVID-19 by providing means of notification of potential exposure, if necessary.

“There is so much uncertainty around testing, who carries the virus, and how quickly it spreads so we want to be overly cautious until we have some answers,” said Mayor Fulop. “The logic here is simple, if the conversation federally and at the state level is around closing schools, or what we would classify as controlled environments, in order to limit the spread of the virus, wouldn’t logic lead us to make sure we are also thinking about large uncontrolled environments until we have more answers? We want to take the necessary steps.”

Jersey City Mayor Enacts Liquor License Curfew - Breaking911
 
  • #809
I have a 3 foot tall stack of old telephone books and a 6+lb. big black trash rag bag full of old Tshirts and old socks.....Let the toilet paper shortage "hard times" roll......I am ready and richly prepared for the future..........moo
 
  • #810
  • #811
More on Sophie Trudeau’s positive diagnosis now:

The wife of Canadian prime minister Justin Trudeau has tested positive for Covid-19 following a trip to the United Kingdom.

Sophie Grégoire Trudeau announced Thursday evening that she had tested positive for the coronavirus and plans to remain in isolation for the next two weeks. Her symptoms have been described as mild.

“Although I’m experiencing uncomfortable symptoms of the virus, I will be back on my feet soon,” she said in a statement. “Being in quarantine at home is nothing compared to other Canadian families who might be going through this and for those facing more serious health concerns.”

The prime minister remains “in good health with no symptoms” according to his office, but will work in remotely for the next two weeks. He plans to address Canadians on Friday.

Coronavirus live updates: Europe shuts down schools as markets tumble, sporting world in crisis
She is reported to have gotten the virus either in transit to, or while visiting, the UK? I wonder, then, if this will force the modification of the impending “travel ban” the US is imposing on almost all of Europe but NOT on the UK.
 
  • #812
Paging @margarita25, are you done with your nap? Come in, come in...

Twilight Zone has gone from bad to worse.

Over.

Hi MJP, thank you for the alert. Yes, seems I was out like like a light for a good six hours. Must have really needed the rest, as they say. (ETA: or maybe it was a potato coma haha @LaborDayRN , not a carb coma, not a tater tot coma, but a full blown potato coma!)

I was just catching up and “taking some notes” in the last thread..I am so glad I saw your note. I’m sure stuff is going downhill fast. Let me speed read and catch up then, and will be back ASAP. I am not up to speed on any of today’s developments yet.
 
  • #813
Now I’m flipping crying!


Tom Hanks and Rita Wilson shared an update from Australia where both actors are in isolation after testing positive for coronavirus (COVID-19).

Tweeting a picture of himself and Wilson, Hanks wrote: "Hello folks. Rita Wilson and I want to thank everyone here Down Under who are taking such good care of us. We have Covid-19 and are in isolation so we do not spread it to anyone else. There are those for whom it could lead to a very serious illness. We are taking it one-day-at-a-time. There are thing we can all do to get through this by following the advice of experts and taking care of ourselves and each other, no?"

He concluded by making a reference to his movie A League of Their Own
: "Remember, despite all the current events, there is no crying in baseball."
Tom Hanks, Rita Wilson Share Update After Coronavirus Diagnosis
 
  • #814
  • #815
Actually history hasn’t proven that since even in 2008-2010 not one person in the United States was prohibited from withdrawing any money from their bank accounts. The 2008 financial crisis was a credit crisis based around bad debt and leverage. I know, because I was working for JP Morgan and Goldman Sachs during it. If you think our banking system is a “House of Cards” you should take a look at the publicly disclosed FRB stress test results and SIFI disclosures. But I guess it’s easier to just try to scare people without any actual knowledge or experience.

This is a medical crisis where certain industries will certainly suffer due to travel restrictions but it will recover as soon as the pandemic passes. China is already stabilizing.

And people are stocking up on toilet paper because people anticipate saying in their homes for a long period of time and the thought of not having basic hygiene products is scary to most people. Toilet paper doesn’t go bad so it seems like a safe bet for something you would use anyway. Equating people preparing their families with bank failure is just weird.

I won't argue because I'm sure you are more informed than I am. But I am one of those who has been labelling the economy a house of cards. I don't tie it to any of the specific causes of the 2008 downturn but rather I think that fiat currency itself is a precarious system. Happy to learn otherwise but for now that is MOO!
 
  • #816
I have a 3 foot tall stack of old telephone books and a 6+lb. big black trash rag bag full of old Tshirts and old socks.....Let the toilet paper shortage "hard times" roll......I am ready and richly prepared for the future..........moo
You must have been chatting with my husband lol. Our go to grocery store as of today is completely sold out. I have not checked out other stores yet.
 
  • #817
  • #818
You must have been chatting with my husband lol. Our go to grocery store as of today is completely sold out. I have not checked out other stores yet.
Yep...We trophy husbands are priceless.....LOL !.....moo
 
  • #819
Actually history hasn’t proven that since even in 2008-2010 not one person in the United States was prohibited from withdrawing any money from their bank accounts. The 2008 financial crisis was a credit crisis based around bad debt and leverage. I know, because I was working for JP Morgan and Goldman Sachs during it. If you think our banking system is a “House of Cards” you should take a look at the publicly disclosed FRB stress test results and SIFI disclosures. But I guess it’s easier to just try to scare people without any actual knowledge or experience.

This is a medical crisis where certain industries will certainly suffer due to travel restrictions but it will recover as soon as the pandemic passes. China is already stabilizing.

And people are stocking up on toilet paper because people anticipate saying in their homes for a long period of time and the thought of not having basic hygiene products is scary to most people. Toilet paper doesn’t go bad so it seems like a safe bet for something you would use anyway. Equating people preparing their families with bank failure is just weird.

I stand by my post and am well aware of the strengths and weaknesses that exist in the American banking system.

The government can only prop up the economy to a certain point, then it collapses.
 
  • #820
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