sedov1966
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March 02, 2020, 07:26:42 AM |
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The 2008 economic collapse was fueled by banks leveraged exposure to declining subprime real estate and other assorted markets. If the corona virus negatively impacts markets bankers have leveraged positions in, it could be bad for them. History could repeat. Derivatives markets today are not safer or better regulated than they were in 2008. Its entirely possible we could see a sequel.
We are quite close to see the sequel actually. Since factories in China stopped their working process it literally crashed crypto and stock markets right away. The situation should normalize soon otherway we're going to meet the collapse again
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akeda
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March 02, 2020, 09:12:30 AM |
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By looking at the current situation all countries have been wary of Corona viruses. This Virus is certainly a very scary threat. We have seen China's country and the country's economy has decreased due to viruses. Even so, I am not convinced that it can tear down the banking, I think it is very difficult and will not have any impact on banking.
The events that exist in China, have made many countries issue new regulations to improve security. Even this virus can be treated and many people who are affected by viruses can recover.
So my opinion about it that the Corona virus will not tear down the banking.
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criza
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March 02, 2020, 01:19:44 PM |
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There is indeed, a lot of factors that might affect the economic stability of a country. Likewise, an epidemic could really stop the economic transactions that is happening inside a country that could also affect other neighboring towns. Corona virus is a serious illness that is quickly spreading in and out of China, if this continues and it would not soon be cured, I think this could cause a lot of negative impacts not only in China but also, to the countries connected to it like what is happening to your own country. But, I don't think that banking could be easily go down because of it, yes it might affect the bank but, its organizers probably already have precautions set before the event happened.
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abhiseshakana
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March 03, 2020, 02:28:29 AM |
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Imagine Corona virus or any epidemic disease affected globally. As a result, all the economy will be affected and people will face hard time. Will not it bring an affect in economic balance? Which will turn into high inflation globally and it will result collapse of the banking system. Will it? In my country, the situation is getting worse for product which we are depended on China. I can see a significant inflation here if Corona Virus issue continued.
Coronavirus will not make the bank collapse. What can make a bank collapse is when the majority of people take all their money together. In addition, people do not save money in a bank virtually but only use bank safe deposit box services. Isolation and restrictions due to a virus certainly disrupt the supply chain of production and consumption which in turn causes an economic slowdown. This condition will affect the banking industry, only banks with the practice of the interest system will continue to receive profits even though the numbers are declining. The dependence on imported goods proved not to be a good thing. Learning from the trade war between China and America, Trump is trying to reduce its dependence on imported goods from China and roll back domestic industries that were previously killed by the onslaught of cheap products from China. Trade wars have indeed made the price of Chinese products in America more expensive which in turn has led to a reluctance to buy Chinese products and raised awareness to drive the American manufacturing industry.
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March 03, 2020, 03:00:23 AM |
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Indeed, the corona virus greatly affects the stability of the world economy but will not make banks collapse, each individual and other institutions will still use banking for many purposes, so with the support still exists, banks will not easily collapse and the corona virus will really not make banks destroyed because of panic about the corona virus. Instead, thinking of the bank collapsing I think it would be better to immediately do the best and as quickly as possible to destroy the corona virus itself because honestly, this virus really is very disturbing.
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Ailmand
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March 03, 2020, 04:14:28 AM |
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Coronavirus had affected a lot of countries already if a countries economy is affected so as banks. There had been major shut down and flights were canceled due to the fear of the spread. It may not totally cause banks to collapse but it will surely affect it's normal business operation due to the panic the virus is causing. Such epidemia shut downs businesses, travels, tourism and a lot more.
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Xampeuu
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March 03, 2020, 04:16:07 AM |
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Indeed, the corona virus greatly affects the stability of the world economy but will not make banks collapse, each individual and other institutions will still use banking for many purposes, so with the support still exists, banks will not easily collapse and the corona virus will really not make banks destroyed because of panic about the corona virus. Instead, thinking of the bank collapsing I think it would be better to immediately do the best and as quickly as possible to destroy the corona virus itself because honestly, this virus really is very disturbing.
the government certainly also has anticipatory steps, so it is very difficult to bring down banks, even though it is recognized that the economy is slowing down, and I think that will happen all over the world. but according to the latest news in the near future it is said that the vaccine will be released soon, and hopefully this will be a resurgence of normal life
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iv4n
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March 03, 2020, 09:00:41 AM |
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It's a fact, if affects humans it affects everything else! Viruses and diseases hurt humans, when humans are down everything else is down. China is good example for what is happening with their banks at the moment, but it's something that is logical cash is money in the physical form, so that means you have to be in contact with other people and exchange cash with them, in that way there are more chances for people to get infected. There's no joke with epidemic or pandemic, everything can collapse if it hurts too many people on one place, it's not exaggerating if I say that cities can disappear like we watch in the movies.
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Kakmakr
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March 03, 2020, 09:22:36 AM |
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Betwrong
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March 03, 2020, 10:13:07 AM |
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Some calamities can indeed affect the economy, but Coronavirus is not one of them. Around 3k people have died from it globally, but we know that from 12k to 61k people have died from the flu every year since 2010 in the US alone.
In short, this Coronavirus thing is a vastly over-hyped scare story the media force-feeding their readers and viewers with. It will hardly affect the economy, and surely it will not lead to collapse of banks.
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dioanna
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March 03, 2020, 01:29:35 PM |
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Imagine Corona virus or any epidemic disease affected globally. As a result, all the economy will be affected and people will face hard time. Will not it bring an affect in economic balance? Which will turn into high inflation globally and it will result collapse of the banking system. Will it? In my country, the situation is getting worse for product which we are depended on China. I can see a significant inflation here if Corona Virus issue continued.
Obviously it is happening already, the slow phase of the economy of the list of countries with lockdown and ban travel orders. The Airline industry sure lost a lot from this outbreak.
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arrmia11
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March 03, 2020, 02:24:06 PM |
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We are in the same situation because i think the world are suffering on that virus also know as corona virus (N'Cov) and we are all affected because of this disease even the banking and the other supply in china and even the crypto world are affected.
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Febo
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March 03, 2020, 02:36:58 PM |
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Can corona virus or any other epidemic disease can collapse Banking?
Imagine Corona virus or any epidemic disease affected globally. As a result, all the economy will be affected and people will face hard time. Will not it bring an affect in economic balance? Which will turn into high inflation globally and it will result collapse of the banking system. Will it? In my country, the situation is getting worse for product which we are depended on China. I can see a significant inflation here if Corona Virus issue continued.
Yes. But just as a trigger. Reasons why current economic system will collapse are elsewhere, but those reasons need a trigger. The fear from corona virus and with that fear, the closing of borders and stopping the trade can make it happen. Current economic system will collapse sooner or latter. It could be this year. in 5 years time or in 20 years time.
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Vishnu.Reang
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March 03, 2020, 03:07:34 PM |
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If the Coronavirus causes a global pandemic, then the economy is going to get adversely impacted. But at the same time, I don't think that it is going to impact the banking sector in a disproportionate manner. Anyone remember what happened during the 2008 economic recession? The banks were impacted quite a lot. But they rebounded within a couple of years.
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FanEagle
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March 03, 2020, 04:17:36 PM |
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Honestly maybe corona can't but if we have a virus that is very very lethal one day and spreads very easily, we could potentially have something that may hurt the baking industry a lot. However for that to happen we should be talking about something that is really lethal and not like corona, corona has a %4 or so death rate compared to infection rate which is why people like me do not really think it is too dangerous.
Certainly, you can still be careful about it but we need like a 20%+ rate in order to start feeling like world may get too dangerous and financial world may take a step back. I still think it wasn't really cured all that fast because it was in China but now that it is in west, there will be a cure very quickly.
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Linkkoin
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March 03, 2020, 05:00:34 PM |
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To some scope epidemics can collapse banking:
1. If companies have suspended operating, people will not get paid and some of them will cash out their savings and start living off them. If too many people will do so, banks will (due to the fact of the partial reserve standards) will not have money to pay their customers money. Such a situation with banks you have seen in Greece and Cyprus couple of years ago - as a result, there was daily cash out limit imposed on users (like 50 EUR per day or so). 2. In the longer-term effect, if companies are suspending their operations or are forced to shut down/operate for part-time only people will start losing their jobs, what has a domino effect: if the factory will reduce their staff or close, local restaurants or shops will lose customers and close as well. Many of the workers/owners of businesses have mortgages or other loans to pay. If you cannot pay off your mortgage, the bank takes over your estate and tries to sell it. But what if there are hundreds of such houses and very few people willing to buy them at all? We have seen that during the last financial crisis in the USA. Banks bankrupt as a result. 3. If the death rate is very high, deceased do not pay their loans. If they leave no legal heirs who inherit property (and debts as well), no one will pay back to the bank. As well in a case (in some countries it is allowed) when the legal heir will resign from all inherited property and debts - the bank will not get back money.
These could heavily damage banking system.
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eaLiTy
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March 03, 2020, 07:08:47 PM |
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I can see a significant inflation here if Corona Virus issue continued.
The economic impact cannot be determined right now because it is spreading to different countries and if they are not able to control the spread then it will have a major impact on the economy globally, even now the stock market is badly affected with the news of outbreak to Italy and other European countries and it will hit the manufacturing sector and it will have a major impact on the economy and i am expecting a recession in the coming months if it is not quarantined in time.
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exstasie
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March 03, 2020, 08:13:48 PM |
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Some calamities can indeed affect the economy, but Coronavirus is not one of them. Around 3k people have died from it globally, but we know that from 12k to 61k people have died from the flu every year since 2010 in the US alone.
In short, this Coronavirus thing is a vastly over-hyped scare story the media force-feeding their readers and viewers with. That's what I've been saying. It's hilarious watching people freak out as if the world is ending! For comparison, look at the swine flu pandemic that began in early 2009 and ended in late 2010. The CDC estimated afterwards ~61 million people in the US were infected and ~12,500 people died. https://en.wikipedia.org/wiki/2009_flu_pandemic#Follow-upWhat happened to the stock markets at that time? It was a nonstop bull market recovery during the entire active pandemic period: ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FYCBSGeD.png&t=665&c=O7ueUEsGVFpuoA) It will hardly affect the economy, and surely it will not lead to collapse of banks.
It sure is fun to speculate about though. https://www.theguardian.com/world/2020/feb/19/coronavirus-could-cost-global-economy-1tn-in-lost-outputOxford Economics said it expected China’s GDP growth to fall from 6% last year to 5.4% in 2020 following the spread of the virus so far. But if it spreads more widely in Asia, world GDP would fall by $400bn in 2020, or 0.5%.
If the virus spreads beyond Asia and becomes a global pandemic, world GDP would drop $1.1tn, or 1.3% compared to the current projection. A $1.1tn decline would be the same as losing the entire annual output of Indonesia, the world’s 16th largest economy.
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justdimin
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March 03, 2020, 08:26:22 PM |
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For the balanced life in this planet, we must have everything should be working on its routine things and any disturbance will be happening in this cycle will be definitely impacting the economy of individuals and then their country's. When people are finding something abnormal and that is impacting to their day to day life, then that will slowly start impacting to their financial life too. For example, merchants will find low income because of low sales out.
Individuals are just the pillar of a nation's economy hence when individuals are getting impacted that will definitely result in impact of banking system and then collapse of economic of entire country.
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Averim
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March 03, 2020, 08:33:11 PM |
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Imagine Corona virus or any epidemic disease affected globally. As a result, all the economy will be affected and people will face hard time. Will not it bring an affect in economic balance? Which will turn into high inflation globally and it will result collapse of the banking system. Will it? In my country, the situation is getting worse for product which we are depended on China. I can see a significant inflation here if Corona Virus issue continued.
Absolutely yes, when we talk about global size catastrophe the value of money goes down and usual rich people invest in diamonds or gold.
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