Coronavirus: Economy vs Nature: Biology Bites Back By Brian Simpson

     This situation with the coronavirus is very different from the climate change scam, where the political element is clear on the face of it; that is, one can see a globalist anti-Western agenda. Coronavirus is more complex. As the articles which I have assembled below show, the virus continues to spread throughout the world, with a steep rise in cases in South Korea, Japan and Italy. It is no longer, just China’s problem, and the so-called racial realists who thought that there would be no white deaths have been proven wrong.

“As the coronavirus becomes the all-consuming news story of the moment, the Financial Times decided to invite an extremely apropos guest for this weekend's "Lunch with the FT". That guest is: Belgian scientist Peter Piot, the "Mick Jagger of Microbes", best known for discovering the Ebola virus. Obviously well-qualified, how does Piot feel about COVID-19? He didn't mince words: "This is serious." "I’m not the scaremongering type," he says. "But I think this is serious in the sense that we can’t afford not to consider it as a serious threat." "It could be that, indeed, it’s going to be over in a few months," he continues, crunching into a tempura-covered sage leaf. "But just take the counterfactual. We say, ‘OK, it’s fine and we don’t do anything.’ I bet that we would already have had far more cases in Singapore, the UK, Germany. Let’s not forget, we are already well over 1,000 deaths. That’s not a detail." The interview took place on Feb. 13, which means that since Piot made these comments, 1,500 more people have died, and serious outbreaks have emerged in Iran, South Korea and Italy. Saudi Arabia has halted pilgrimages to Mecca, and Japanese PM Shinzo Abe has asked all schools in the country to close.”

     The experts warning of a killer pandemic are not usually associated with political causes, being the microbiological types, so it would be foolish to instantly dismiss the worst-case scenario. And, another point against the conspiratorial view is that this pandemic is a great threat to globalism itself, as I pointed out early in the debate, and which is now becoming a mainstream position:

“Central banks have met their match. They cannot counter the economic havoc caused to global supply chains from the coronavirus. Nor can tax cuts or a blast of government spending plug the gap when crumbling confidence and emergency anti-virus measures are blocking the transmission channels. We are in an unprecedented global situation more akin to the outbreak of war than any episode in collective economic memory. “Everyone believes it’s going to be a V-shaped recession, but people don’t know what they are talking about. They prefer to believe in miracles,” said Nouriel Roubini, the Dr Doom of the 2008 saga. “This crisis is a supply shock that you can’t fight with monetary or fiscal policy.” Olivier Blanchard, the International Monetary Fund’s former chief economist, said the emergency measures now being taken in expanding areas of the world strike at “the core of economic organisation” and are so extreme that the effects on output are drastic. What the authorities can do to prevent this economic “sudden stop” from metastasizing into a depression is to blanket the financial system with love. The imperative is to avoid panic fire-sales that become self-feeding and utterly destructive, and to ensure that “good” companies caught in a liquidity crunch are not forced into bankruptcy. Such support measures can buy time in the hope that warmer weather slows contagion of the virus and that the epidemic starts to burn itself out. Yet the immediate task is getting harder by the day. The damage in China is orders of magnitude greater than originally supposed under the misleading Sars template from 2003.  

Capital Economics said the rate of economic contraction is now likely to be a staggering 25pc (annualised) over the first quarter – using proxy measures of real activity – a level unseen in modern times. “For much of February, economic activity effectively ceased in China,” said Mark Williams, the group’s chief Asia economist. Two thirds of China’s 300 million migrant workers have still failed to return to the factories after the Lunar New Year. Coal power plants are still running at half the normal level.  Housing transactions have collapsed to almost zero. Car sales were still down 83pc in the third week of February. What has caused markets to take serious fright this week is the spectre of multiple “Chinas”, a synchronised shock across the world as Europe, the US, the major economic centres all go into virus lockdowns and face economic mayhem at the same time. Nomura says the big “global macro” hedge funds are already switching to trades that make sense only in a worldwide recession. Prof Roger Farmer from the National Institute for Economic and Social Research warned that a chain-reaction may already be underway. “If the stock market decline persists, it will cause a recession. The mechanism will be a self-fulfilling feedback loop that generates a fall in aggregate demand and causes deflation. It is very dangerous,” he said. The US Federal Reserve can try to stop this doom-loop taking deeper hold and causing a collapse in the natural rate of interest, which would in turn lead to a contractionary worldwide bust. “I fear the Fed is way too late in reacting. It is precisely now that they need to use everything,” he said. He thinks the Fed should buy equities and prop up the stock market indices to prevent a confidence shock through the “wealth effect” but this would require a change in US law. “They should buy the riskiest stuff possible at this point because that is what is hit hardest in a panic,” he said. For now the Fed is holding fire, even though yields on 30-year Treasuries have fallen to an all-time low. Even more threatening, the real yield on five-year Treasuries has collapsed by 140 basis points over the last year to minus 0.4pc. David Beckworth, an ex-Treasury official now at the Mercatus Centre, said the Fed is allowing “passive tightening” to occur and pushing the US economy towards the brink.”

     The still barely  alive US economy, is the only thing really keeping Trump afloat and stopping the whole show from  threatening to come crushing down, unlike China’s economy, so is it any wonder that the Donald is poo-pooing the coronavirus crisis?

     The absolute worst-case scenario, I call the zombie apocalypse, where so many people get infected, that the economies take a severe nose dive, plunging into depression, if not economic collapse. The just-in-time delivery systems will fail when truck drivers     are simply too scared to drive truck’s, too sick, or too dead:

“A professor at Harvard University has come out with a shocking prediction that as many as seven in 10 people will eventually contract the Wuhan coronavirus (COVID-19). Professor Marc Lipsitch says that the Wuhan coronavirus (COVID-19) “will ultimately not be containable” and that “within the coming year, some 40 to 70 percent of people around the world will be infected with the virus that causes COVID-19,” he’s quoted as saying by The Atlantic. An expert in epidemiology, Lipsitch warns that the Wuhan coronavirus (COVID-19) is especially dangerous because some of the people who become infected carriers never actually manifest any symptoms. At the same time, not everyone who contracts the disease will die from it. Instead, “many will have mild disease, or may be asymptomatic,” Lipsitch contends. It all depends on how effectively governments of the world are able to contain the disease before it spreads out of control. In Italy, for instance, some people are being barred from leaving their hometowns, which could help to prevent the Wuhan coronavirus (COVID-19) from spreading to pandemic levels. On the other hand, the Wuhan coronavirus (COVID-19) might just be the dreaded “Disease X” that experts have been warning about for years.

“Whether it will be contained or not, this outbreak is rapidly becoming the first true pandemic challenge that fits the Disease X category, listed to the WHO’s priority list of diseases for which we need to prepare in our current globalised society,” writes Professor Marion Koopmans.”

     Already fear is leading to mass buy-ups of goods. It would be wise for readers to begin, if they have not already started, putting away extra food and medical supplies. If you need prescription medicine, maybe ask your doctor for an extra script(s), since there seems to be time limits now imposed by some chemists in renewals. Certainly, put away basic food items that do not need to be refrigerated, such as tin food and dried goods. Having a garden is a great idea at the best of times.



No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Saturday, 22 June 2024

Captcha Image