COVID-19 (f/k/a "the Coronavirus")

[jesmu84]

I think the next logical step is government stepping in and stopping all required payments - rent/mortgage, utilities, debt payments, everything. For individuals and businesses

[MU Fan in Connecticut]

I've been feeling really down too, but here is one upside I can think of.  If China is really mostly past this, that is a really good thing for the global economy. It might mean we lose our #1 spot, but we are so reliant on them for our supply chain and in trade, it is still a very good thing if they are past this.

In my weekly teleconference on Monday morning, my company's China plant manager said it's basically back to business as usual in China.

[TSmith34, Inc.]

In my weekly teleconference on Monday morning, my company's China plant manager said it's basically back to business as usual in China.

The question is, does the U.S. have the will to do what China did?

[The Hippie Satan of Hyperbole]

I think the next logical step is government stepping in and stopping all required payments - rent/mortgage, utilities, debt payments, everything. For individuals and businesses

Then you are going to have bank liquidity issues, which may make things substantially worse.  Many people aren't going to have trouble making payments in the short term.  Including myself.  There is zero reason why people like me shouldn't pay their mortgage payments, etc.

It would be much better to give people money from the federal government, because they have the liquidity to manage it.  And if it has to be more than what they are talking, then it will be more.

[rocky_warrior]

And for the record, this is where you move from discussion of the President's handling of this matter (which I agree is completely fair game in this "no politics allowed" thread) to pure and unabashed politics.

For the record - I understand.  I should choose my words more carefully.  But my point remains - why have only 27k been tested if 75k tests are available and lots more are coming online?  I think part of it is that that labs can't process them fast enough - but as Goooo points out, processing capability is increasing daily. 

At this point the fact that only those at high risk or in hospitals can get tested is a f*cking failure.

[Frenns Liquor Depot]

I am very much struggling this morning to see anything but unbelievable doom.

The unemployment numbers are going to be absolutely staggering.  Sec. Mnuchin suggested 20% unemployment without massive govt intervention.   I don't have a lot of faith in that .. it'll help, no doubt, but .. the economic impact is just so far reaching, so quick.  People aren't going to use their $1000 to buy a car, they're going to be scared and hoard it for food. 

Seeing the "suppression" line graphs .. the peaks and waves go on forever until the population is immunized.   That's a full 12-18-24 months of economic devastation, with no one building homes, buying cars, travelling.   

Someone talk me out of it, but I can't shake the idea that the probability of a global great depression is extremely high.

I'll balance this.  Firms are trying to do what they can to make this temporary for the workforce versus other recessions.  I.e. Marriott keeping health benefits but furloughing.  Blunting the impact as we all hunker down, focus on our families and work inefficiently from home.  We all want a consumer when this is done.

Scientist all over the world are working on therapy & vaccine.  They will figure it out.  We just need to buy them & our healthcare workers some time.

[jesmu84]

For the record - I understand.  I should choose my words more carefully.  But my point remains - why have only 27k been tested if 75k tests are available and lots more are coming online?  I think part of it is that that labs can't process them fast enough - but as Goooo points out, processing capability is increasing daily. 

At this point the fact that only those at high risk or in hospitals can get tested is a f*cking failure.

Plus anyone can get it if they have money.  We are not currently allocating resources correctly yet

[jesmu84]

Then you are going to have bank liquidity issues, which may make things substantially worse.  Many people aren't going to have trouble making payments in the short term.  Including myself.  There is zero reason why people like me shouldn't pay their mortgage payments, etc.

It would be much better to give people money from the federal government, because they have the liquidity to manage it.  And if it has to be more than what they are talking, then it will be more.

"Many" people aren't going to have trouble making payments? I think that is vastly overstated.

Not sure about the banking aspect.

But I still feel that everything needs a pause button for up to 3 months.

[TSmith34, Inc.]

One of the various drugs being tested.  Sounds this would be similar to Tamiflu in that you'd need to get it very early to be most effective.

Japanese flu drug 'clearly effective' in treating coronavirus, says China
Medical authorities in China have said a drug used in Japan to treat new strains of influenza appeared to be effective in coronavirus patients, Japanese media said on Wednesday.

snip

Patients who were given the medicine in Shenzhen turned negative for the virus after a median of four days after becoming positive, compared with a median of 11 days for those who were not treated with the drug, public broadcaster NHK said.
In addition, X-rays confirmed improvements in lung condition in about 91% of the patients who were treated with favipiravir, compared to 62% or those without the drug.

snip

But a Japanese health ministry source suggested the drug was not as effective in people with more severe symptoms. "We've given Avigan to 70 to 80 people, but it doesn't seem to work that well when the virus has already multiplied," the source told the Mainichi Shimbun.

https://www.theguardian.com/world/2020/mar/18/japanese-flu-drug-clearly-effective-in-treating-coronavirus-says-china

[lawdog77]

Many people aren't going to have trouble making payments in the short term

According to CNBC-Nearly 80 percent of American workers (78 percent) say they're living paycheck to paycheck,

[The Hippie Satan of Hyperbole]

According to CNBC-Nearly 80 percent of American workers (78 percent) say they're living paycheck to paycheck,

Right. But many of those have regular paychecks, and the next couple months aren't going to change that in the short term.

Regardless, the best way to combat this is for the feds to give people $$$.  Not for the feds to mandate that banks not collect payments.  Banks need those payments to make loans, extend credit, etc. which a lot of small businesses will need in the short term.

[Hards Alumni]

"Many" people aren't going to have trouble making payments? I think that is vastly overstated.

Not sure about the banking aspect.

But I still feel that everything needs a pause button for up to 3 months.

Ah, so you're advocating for communism, komrade? 

Of course, this is a joke.

[JWags85]

"Many" people aren't going to have trouble making payments? I think that is vastly overstated.

Not sure about the banking aspect.

But I still feel that everything needs a pause button for up to 3 months.

I dont care if mortgage payments are deferred or if people get $1000-2000 a month.  This will wipe out so many small to medium sized businesses.  Regardless if they get a small bridge financing or not. This just coming from the perspective of a small business stakeholder.

[rocket surgeon]

For the record - I understand.  I should choose my words more carefully.  But my point remains - why have only 27k been tested if 75k tests are available and lots more are coming online?  I think part of it is that that labs can't process them fast enough - but as Goooo points out, processing capability is increasing daily. 

At this point the fact that only those at high risk or in hospitals can get tested is a f*cking failure.

Understand that this is still evolving. Real people have to perform these tests. Real people who are part of the testing process can get sick too. Too label this as a " complete facking failure" is short sighted  is an understatement.  I think all of those who can  help, want to help because we are all in this. The successes of this aren't for a few

The "failure" here lies with the Chinese period.

[Hards Alumni]

According to CNBC-Nearly 80 percent of American workers (78 percent) say they're living paycheck to paycheck,

So you're saying people have problems budgeting their money?

[The Hippie Satan of Hyperbole]

nm

[rocky_warrior]

Too label this as a " complete facking failure" is short sighted

No it's not.

I think all of those who can  help, want to help because we are all in this. The successes of this aren't for a few

This I think I understand *way* better than you.  Healthcare workers would love to give people testing and give them the peace of mind that they're either "fine" or need to quarantine.    BUT THEY CAN'T!  Are being told not to test people.  That's causing fear.

The "failure" here lies with the Chinese period.

The blame lies with the Chinese.  However, they were very successful at squashing it once they realized what was happening.

To all the "it's overreaction" people.  Understand - this spreads *very easily* once it's inside your circle of trust.  Look at the MA Biogen conference.  Look at the NBA.  This is why isolation is important.

[Jockey]

According to CNBC-Nearly 80 percent of American workers (78 percent) say they're living paycheck to paycheck,

That's explains why we give tax breaks to millionaires / billionaires. 

[Jockey]

So you're saying people have problems budgeting their money?

People making $20,000 - $40,000 don't have the luxury to "budget" their money.

[lawdog77]

So you're saying people have problems budgeting their money?

That's a whole different subject. Fault can be given to many different sides on that. Predatory lending by credit cards, "minimum" wage, lack of fiscal education in high schools, mentality of having shiny things..

[🏀]

We're struggling with this as well. We send our daughter to MU's center, and there's maybe a third of the kids still there. They're still open until the University closes. So while the risk is still there, it's not as populated as it usually is.

I'm in the same situation, both remote, but she's busier. I just don't see us being productive trying to keep the little one entertained all day. Even Frozen only keeps her attention for about 10 minutes.

I don't know what the right answer is, honestly. I don't feel great about either one.

Thanks for the opinion, good to hear others in the same situation.

I think we may go through this week and then call it. Worried about the lack of socialization mostly, and then my own over-saturation of children.

[The Hippie Satan of Hyperbole]

It doesn't give me confidence that Trump is being above board when he continues to use phrases like "the Chinese virus."  If he wants people to feel that the response isn't politicized, he needs to stop with that kind of stuff.  It's not helpful in any way.

[Sir Lawrence]

It doesn't give me confidence that Trump is being above board when he continues to use phrases like "the Chinese virus."  If he wants people to feel that the response isn't politicized, he needs to stop with that kind of stuff.  It's not helpful in any way.

I know things are different with this cat, but we've identified diseases by geographic origin for a long time now.  The Ebola virus was named after a river near its origin in the Democratic Republic of Congo.   Zika: the Ziika Forest of Uganda. Except for the Spanish flu.  That actually probably started in.....China.   

[MUfan12]

At least he didn't call it the Kung Flu?

[The Hippie Satan of Hyperbole]

I know things are different with this cat, but we've identified diseases by geographic origin for a long time now.  The Ebola virus was named after a river near its origin in the Democratic Republic of Congo.   Zika: the Ziika Forest of Uganda. Except for the Spanish flu.  That actually probably started in.....China.   

I get that.  But its not know by that anywhere else but the White House and his media lapdogs.  CDC, WHO and every other media organization is calling it something else.