Futures on the Dow Jones Industrial Average indicated an opening drop of more than 1,300 points.
Investors have already been on edge about the coronavirus outbreak that caused major stock averages to tumble into correction territory. As of Sunday, global cases of the infections have climbed to more than 109,000 with at least 3,801 deaths around the world. The situation is also worsening in the U.S. with New York, California and Oregon all declaring a state of emergency.
“The idea that lower gasoline prices is going to put more cash in workers’ pockets and give consumer spending and the economy a boost doesn’t seem to cushion the blow for stock market investors,� Chris Rupkey, MUFG Union Bank’s chief financial economist, said in a note Sunday. “They want out. Big time. The sky is falling. Get out, get out while you can. Wall Street’s woes have to eventually hit Main Street’s economy hard.�
So this is already bigger, economically, than either 9-11 or 2008. And we've only just begun.
UndercoverElephant wrote:So this is already bigger, economically, than either 9-11 or 2008. And we've only just begun.
As seemed clear over a month ago:
clv101 4-Feb-20 wrote:This is the 'big one', billion+ likely to be infected and the economic consequences significant, far larger impact than 2008 crash.
Listing the LBC today... adverts for Saga Boutique Cruses - over 50s only, 30% discounts available!
clv101 wrote:
Listing the LBC today... adverts for Saga Boutique Cruses - over 50s only, 30% discounts available!
Does that come with a free will writing service?
A common mistake that people make when trying to design something completely foolproof is to underestimate the ingenuity of complete fools - Douglas Adams.
F--k me, that video is a damning indictment of our government and authorities.
When this is all over - if people thought the last three years was a politically bumpy ride - then they are REALLY not going to like the political fallout from this
There was a picture on facebook this morning of a Rugby scum pile with the caption that the players were advised not to shake hands before the game.
What nonsense!!
Little John wrote:F--k me, that video is a damning indictment of our government and authorities.
When this is all over - if people thought the last three years was a politically bumpy ride - then they are REALLY not going to like the political fallout from this
I hope that the smug lazy bastards who 'earn' all the money get rough treatment from the gig economy and low paid workers.
Let's start with the lawyers and local government planning officers.
Sky news reckon 'the plan' is to have 'moderate social distancing' over eight weeks to gain maximum reduction in spread.
They opine that if we went full fat maximum social distancing (closed pubs, no flights, football cancelled) this would, paradoxically, result in greater spread.
vtsnowedin wrote:There was a picture on facebook this morning of a Rugby scum pile with the caption that the players were advised not to shake hands before the game.
What nonsense!!
This does not look like social distancing from the French!
It's clear now. Western capitalist societies have absolutely no idea what to do and there is going to be medical, social, political and economic carnage arising out of this
319 people became official statistics over 24 hours ago, having been infectious for maybe ten days. Meanwhile, the exponential growth continued, and maybe 70% won't ever become official stats at all, either through being mild or sub-clinical, or declined tests through not being able to get through on 111, or not meeting the narrow test criteria.
