Best Overview Of Corona Virus Impact on Finance and the Economy I've Seen So Far

[criza]

In the present, China is now successful in fighting the virus and they are already recovering from it that infected a lot of people. Hence, this might be the end of the idea that mass adoption of Crypto currency is occurring as countries quarantining fiats. Well, even before, the price of Bitcoin is still on the dump even with fiats being burned to avoid infections when it is being used.

We could say that: even with no direct relation the Corona virus, it still affected the standing of Bitcoin as the massive dump occurred but, I hope it will gradually recover as the virus will be cured in the future.

[Hydrogen]

In the present, China is now successful in fighting the virus and they are already recovering from it that infected a lot of people. Hence, this might be the end of the idea that mass adoption of Crypto currency is occurring as countries quarantining fiats. Well, even before, the price of Bitcoin is still on the dump even with fiats being burned to avoid infections when it is being used.

We could say that: even with no direct relation the Corona virus, it still affected the standing of Bitcoin as the massive dump occurred but, I hope it will gradually recover as the virus will be cured in the future.

I am not convinced china is successfully fighting the virus better than anyone else in the world as they claim. A case could be made for both singapore and russia being far more successful than china in regard to stemming the tide of infection. Economic issues relating to the pandemic revolve around a large percentage of global supply chains being heavily centralized within china's borders. Slowdown in china leads to a chain reaction where factories all over the world, lack raw materials and parts they rely upon china to produce.

Everyone will know china has successfully contained its contagion when supply lines begin to churn out steady production. Until then, I think its premature to assume china has its issue contained. Don't forget china has resorted to constructing entire ghost cities which could house more than 1 billion people in an effort to artificially prop up its GDP statistics. Misinformation and outright lies are a large part of china's standard policy.

[yanto@1977]

Thankfully it won't affect cryptocurrency as much as it may other traditional financial institutions like banks. Some countries are burning their cash for fear of currency being contaminated with the virus. Banks may be forced to close as workers become sick. Hopefully crypto mining is automated enough along with vendors and retailers in the crypto industry for crypto to not be as affected.

That's what we believe but I must say we over reaction about the effect. In my mind the effect can make chaos in few weeks and government take reaction with the economy, that's too far. There's opinion that Corona become black sheep to cover something big and many analysis about it that we call politic. I think we should take care our self, let government do their job and keep do your activity by on line, life keep running.

[Darker45]

In the present, China is now successful in fighting the virus and they are already recovering from it that infected a lot of people. Hence, this might be the end of the idea that mass adoption of Crypto currency is occurring as countries quarantining fiats. Well, even before, the price of Bitcoin is still on the dump even with fiats being burned to avoid infections when it is being used.

We could say that: even with no direct relation the Corona virus, it still affected the standing of Bitcoin as the massive dump occurred but, I hope it will gradually recover as the virus will be cured in the future.

I am not convinced china is successfully fighting the virus better than anyone else in the world as they claim. A case could be made for both singapore and russia being far more successful than china in regard to stemming the tide of infection. Economic issues relating to the pandemic revolve around a large percentage of global supply chains being heavily centralized within china's borders. Slowdown in china leads to a chain reaction where factories all over the world, lack raw materials and parts they rely upon china to produce.

Everyone will know china has successfully contained its contagion when supply lines begin to churn out steady production. Until then, I think its premature to assume china has its issue contained. Don't forget china has resorted to constructing entire ghost cities which could house more than 1 billion people in an effort to artificially prop up its GDP statistics. Misinformation and outright lies are a large part of china's standard policy.

If the significant drop of new cases are to be considered, china has somehow responded to it well. Aside from that, the numbers are also saying that new deaths are also decreasing and healed ones are rising. So that's basically reflective of what the country has done. It helped that the country is a totalitarian one and has enough money. Drastic rules are implemented fully without even the slightest dissent, criticism, or resistant. There were sacrifices made, for sure. It also helped in expediting almost everything that is necessary, from the creation of new hospitals in just a few days to the implementation of full quarantines and total lockdowns. 

But the effect of it was global, not just in terms of the spread of the virus but also in terms of the economy. Even if the situation in china is getting better, the rest of the world is not.

[o_e_l_e_o]

I think its premature to assume china has its issue contained.

It helped that the country is a totalitarian one

These are both important points, and these two reasons are why we shouldn't be comparing western countries to China, or looking at China for what to expect in the coming weeks or months.

China actively suppressed information about the disease and about the severity of the disease for many weeks, and actively prosecuted doctors who spoke out about it online. It's not exactly a giant leap to expect that they are also suppressing information about their true number of cases and deaths.

China implemented a very severe isolation policy, which western countries haven't even come close to. Even if you compare to Italy, which currently has the most severe and restrictive quarantine policy in the west, it's still nowhere near as restrictive or as strict as that of China. Meanwhile, the US is still throwing St Patrick Day's parties.

[fiulpro]

 You know it's not just the products but stupid people roaming around like crazy , traveling to the countries where the virus is very widespread.
It was people who caused the spread of virus in other countries, because of their small brains .
One might have just stayed at home but no everyone has to go outside , so much that now government is thinking of imposing penalty over people like that.
China should have taken measures right from the beginning to have controlled the virus right there , but no even the doctor who told people about the upcoming pandemic was shunned by the authorities ,it's just plain neglect and the economy and people are facing the ill effects.

[Meowth05]

The problem right now is that it is not the market's fault but the people, they are pulling out their stocks and that cause for a dip in the market, the good thing about this is that most of the cryptocurrency is not suffering but they are flourishing, we can see the result when this crisis is over.

[stompix]

China implemented a very severe isolation policy, which western countries haven't even come close to.

China should have taken measures right from the beginning to have controlled the virus right there , but no even the doctor who told people about the upcoming pandemic was shunned by the authorities ,it's just plain neglect and the economy and people are facing the ill effects.

I really don't think China is the model for this.
First, I don't believe one word from them, a province next to Hubei with 80 million people and only 600 infections and 2 deaths?
Yeah, what's next, Santa Claus is making a vaccine?
 
But what they did with all their measures was just as efficient of what South Korea did. And they have fewer dead, they had fewer cases and with a far more relaxed overall atmosphere, no tanks, and machineguns and drones.

Either way, they are opening productions, they are having workers back at work..
And Europe and the US are under lockdown with people not buying much else than the food, thinking about their saving their jobs...
We will soon an unbalance in millions of products nobody is interested in and people spending less, at the same time money printing, man this is going to end up like a total shitstorm, not really the spring I imagined.

[LazerSMS]

Tourism is gone and it will be for some time even after travel restrictions will be eased. Countries like Italy and Spain heavily affected, first because of the quarantines and travel restrictions, second because of the stigma that they will keep having even after the crisis has passed.

I can understand why stocks and commodity prices are dropping, because companies are closing and production are going down, but why should this virus have such a huge influence on the Bitcoin price? We do not have large industries closing their doors and the mining hardware manufacturers are still producing and the hash rate is still climbing.

Wall Street whales are liquidating their crypto to cover for their stock losses

[o_e_l_e_o]

First, I don't believe one word from them, a province next to Hubei with 80 million people and only 600 infections and 2 deaths?

Oh, for sure. They are definitely suppressing their numbers, which I explained in my post. But that doesn't change the fact their lockdown was far more swift and far more restrictive than anything we have seen in the west.

Either way, they are opening productions, they are having workers back at work.

Largely because they locked things down so quickly. It's going to be months now before we are at the stage of getting back to normal because we waited too long to act. Even now there are still offices, schools, bars, restaurants, etc., still running.

We will soon an unbalance in millions of products nobody is interested in and people spending less, at the same time money printing, man this is going to end up like a total shitstorm, not really the spring I imagined.

The most amount of money printing we have ever seen, with the Fed committing to unlimited QE. More money, fewer goods, less spending. It can only lead to hyperinflation.

[wxxyrqa]

Unfortunately, in some countries they are not very worried about their citizens and are not really trying to protect their country from an epidemic.  Officially, the government always speaks correctly and talks about its actions and plans for the future, but the situation is completely different.  The number of patients is therefore distorted, and doctors still do not have the proper individual protection against the virus.  In addition, large enterprises continue to work, in which 400 people work in one shift.

[abhiseshakana]

Unfortunately, in some countries they are not very worried about their citizens and are not really trying to protect their country from an epidemic.  Officially, the government always speaks correctly and talks about its actions and plans for the future, but the situation is completely different.  The number of patients is therefore distorted, and doctors still do not have the proper individual protection against the virus.  In addition, large enterprises continue to work, in which 400 people work in one shift.

There are two possibilities that the government or country will not be afraid of the covid-19 pandemic.

They believe they already have a good health security system and are integrated with the biosecurity agency so that they are confident that when a pandemic occurs, their country is ready to box the virus so it does not spread.

Its leader has the view that covid-19 doesn't kill. What's deadly is if the economy isn't spinning. The President of Brazil and the President of America are the leaders that we want to see that covid-19 is an ordinary pandemic even though in fact it is not deadly but the spread is very fast because this virus has been modified (enrichment virus).

Bolsonaro and Trump assume that the corona pandemic is a natural selection where people who have high competitive power will survive and the weak will be eliminated. In the economic framework, those who cannot afford treatment are the poor and homeless people who in their minds are a burden to the state.

The decision and even Trump's suggestion to open a place of worship before Easter is an anti-extreme decision. America is great with its free-market which is synonymous with high competitiveness. This principle is held by trump. In line with Trump Bolsorano believes that deaths due to co-19 are commonplace and are seen as human destiny.

But looking at the facts that have taken place over the past few days, many contradictory trump opinions, Trump's social extension of distancing until April 30 means that the target of April 12 as a day when Americans "pack the bench" for Easter Sunday service fails.

Also on Tuesday Trump announced that he was warning Americans to prepare for a "two bad weeks" with projections that there would be 100,000 to 240,000 deaths from the corona pandemic. Hopefully, this change in Trump's long corner is true for humanitarian reasons, not as a diversion to the issue of economic resetting.

[Lizzylove1]

I have voiced my concern over the over dependent on China for manufacture and supply, and regrettably my nation is foolishly sold out to China instead of decentralizing her importation and producing theirs too. This would have spelled doom for my country should China had remained locked down for many months without a possible end game. Every continent should some designated manufacturing hub.

[stompix]

instead of decentralizing her importation and producing theirs too.

Oh god, again with the decentralization magic pill?
What you're proposing two lines below is the exact opposite of decentralization, you want continental hubs for manufacturing, that's centralization!

Every continent should some designated manufacturing hub.

And who is going to pay for that?
One of the directors of a farmaceutical company here said it bluntly when people asked why they haven't produced masks!

Because previously none of us were buying, it's easy to say let's have a strategic reserve of manufacturing gear, but WHO is going to pay for?
Right now if you ask people to enter an agreement that they should purchase at least 10 masks a year to sustain the national industry everybody will cheer, In two years everyone will say f&^& you and your mask, why are you forcing me to pay for that!

Either way, they are opening productions, they are having workers back at work.

Largely because they locked things down so quickly. It's going to be months now before we are at the stage of getting back to normal because we waited too long to act. Even now there are still offices, schools, bars, restaurants, etc., still running.

Seem like the reopening is failing even across China
https://www.theguardian.com/world/2020/mar/31/china-gets-mixed-results-in-its-attempt-to-lift-lockdown

Their entire propaganda in motion and it's not enough, people are scared, probably they don't trust the government at all and I'm sure they are asking themselves how is it possible that the rest of the world has thousands of casualties and entire provinces bigger than Spain and Italy only a few.

Anyhow, the situation in is grim around Europe and it's getting worse by the day
Constructions are slowing to a standstill, tourism is dead, consumption is down, car sales are down, Continental is shutting down another plant, Toyota is shutting down... I'm out of self-isolation and into a different level of quarantine, the worst spring I saw in a decade.

[verita1]

The Coronavirus will definitely give us a negative impact on the economy. Everything that we have advanced so far in the field of technology, we must use it to restore the disaster that will leave Covid19.
If before Covid19 the economy was weakened now more than ever, we must reform our forces for the great work that awaits us in the near future.

[Negotiation]

The Coronavirus has threatened the economy of every country It will take a long time to overcome it But it won't last very long Everyone is trying to cure it. But the best overview of the coroner virus effect in finance and the economy I have seen so far and people are living a much better life It should stand beside helpless people for control.

[o_e_l_e_o]

Right now if you ask people to enter an agreement that they should purchase at least 10 masks a year to sustain the national industry everybody will cheer, I two years everyone will say f&^& you and you're mask, why are you forcing me to pay for that!

Not to mention that all medical equipment has an expiry date. No one is going to buy masks they may never use and just have to throw away two years later because they are no longer effective.

Seem like the reopening is failing even across China

This is going to be commonplace in the coming weeks, I think. Until we have either a vaccine or significant levels of herd immunity, several hundred people gathering in a small area is always going to be a risk, and it only takes one infected person (even with no symptoms) to kick off another cluster of cases.

That article says about a company gathering all its employees together and telling them all to remove their masks. How stupid can you get? There's ending the quarantine and then there's just beening needlessly reckless.

[figmentofmyass]

Right now if you ask people to enter an agreement that they should purchase at least 10 masks a year to sustain the national industry everybody will cheer, I two years everyone will say f&^& you and you're mask, why are you forcing me to pay for that!

Not to mention that all medical equipment has an expiry date. No one is going to buy masks they may never use and just have to throw away  years later because they are no longer effective.

where i live we have fires, so having several n95 respirators in the emergency kit is considered standard anyway.

we should at least be able to prevent shortages within the healthcare system during pandemics. that seems pretty basic. maybe there's a way the government could act as a supplier to hospitals, selling from and refilling a national stockpile to mitigate the shelf life limitations.

n95 masks normally cost hospitals 50-60 cents a pop and otherwise have a 3 year shelf life. the federal government could probably get them cheaper. surgical masks cost a fraction of that. back of the envelope math says we could have a billion strong mask stockpile for maybe $100 million/year. if something like the above plan were implemented, it could be closer to $300 million flat with minimal upkeep. compared to $6 trillion stimulus plans, it pales in comparison.

[o_e_l_e_o]

maybe there's a way the government could act as a supplier to hospitals, selling from and refilling a national stockpile to mitigate the shelf life limitations.

This is generally what happens in other countries. The US is pretty unique in the ridiculous situation we are currently in where different states are having to bid against other states to buy FFP3 masks and other PPE from suppliers. All this does is line the pockets of the manufacturers and put frontline health staff at unnecessary risk.

compared to $6 trillion stimulus plans, it pales in comparison.

Agreed, but there is more to consider than just masks. We need FFP3 masks, we need water resistant surgical masks, we need visors, face shields, gowns, gloves, hats, suits, shoe covers, hoods and head covers, air purifier pumps, etc. We need more hand sanitizer, more oxygen deliveries, more oxygen concentrators, more oxygen cylinders, more ventilators, more CPAP machines, more soda lime, more filters, more ventilator tubing, more drugs, more drug pumps, etc. Some of this stock could be rotated and used in general day-to-day healthcare, but not all, and all of these things (minus the mechanical machines) have an expiry date. It would still pale in comparison to the amount of money printing going on, but there is no way any government anywhere in the world would be happy to spend all this money every 3 years or so to be prepared for something which may never happen.