CORONAVIRUS: More Likely To Damage Your Wealth Than Your Health

Panic could be expensive.
Interesting take on coronavirus outbreak.
By John Ward of The Slog.

“China has no choice but to shut down its output and face massive falls in demand. The one thing CoroNov19 is going to cut a swathe through is lots of obscenely overvalued stock markets around the world.”

I hope Mr. Ward’s prognostication regarding stock markets won’t materialize. I like the look of the dollar balance of my SEP-IRA account.

The provenance of media reports on this virus is just as complex as its provenance of mutation

There has been a leap in the number of Coronavirus infections over the last week (it would be odd if there hadn’t) but the death rate stays firmly at 2.1%. It is still clear that it transmits from human to human more efficiently than most previous viruses, and is late in producing symptomology. The World Health Organisation (WHO) has declared it an epidemic (about time). The UK is now quarantining every flight from China, and the total number of British cases is seven.

There really is nothing to see here – yet. But on the basis of this, the Times has a front-page splash promising that w’re going to get ‘a major epidemic’, and that everyone is being too relaxed about it and we can’t have that.

So it is that “world expert” Professor Peter Piot, director of the London School of Hygiene & Tropical Medicine, has been wheeled out to declare himself “increasingly alarmed” by the “rapid spread” of the virus and the “huge” number of cases emerging daily.

Why? The Whys I mean are, why is he surprised, and why has the Times given him centre stage?

Centre stage is sort of understandable given his ground-breaking work on AIDS and Ebola. But there are other considerations.

Monsieur Piot describes himself as a chap who ‘grew up in Belgium dreaming of exotic adventures and helping the poor’. He is a senior UN bigwig, Left of Centre, and an opponent of Brexit. (It is, of course, only a matter of time before the spread of CorNov19 is down to Brexit chaos, and a lackadaisical attitude by Boris Johnson).

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