Indeed. Its the confidence put forth by the market that the listed companies' equites/shares are profitable and has growth potential in the future--thus the "going concern" principle. This principle HOWEVER barely (or never) take into account worst case economic scenarios like this one since these kind of events (ie. pandemic) are not statistically common and are not within the forecasting model. COVID pandemic is a surprise for everyone and, sadly, to our economy too. Its only natural that global economy will crash due to lockdowns and even into a level thats unprecendented in our history if this conditions persists (aka. next depression in a global scale).
According to baby boomers it is millennial dreams - Baby boomers - "You ain't doing nothing and you are acting like you are saving the world. Think bout your future son. You ain't going to get noting by slipping on couch and watching TV all day" Millennial - "Doctor are saying to stay home. So I am staying home. Can I watch TV I am bored by doing nothing whole day" Baby Boomer - "Yeah, I ain't trust those so called doctor. I have my Jesus with me and I believe in Trump"
Started prepping October 2019 after looking at the Global Debt Clock..... Minus trillions. Knew 2020 was going to be financially a train wreck... Virus sped it up. ..... And me just a Welsh nobody with no qualifications..... Makes me wonder how people vote people in that know nothing.
@@rmcd823 Not at all. The cause has been waiting for over 5 years, it needed a trigger to set things off. If it hadn't been Covid it may have been the Oil Price war, cold war, any minor shock.
Well, maybe if the average joe bought even one stock once in a while it wouldn't be that way. If a million average joes buy just one stock it'll really eat into these few rich individuals.
@@Junokaii you are right but usually we the average joe`s say it no point if we don`t get rich overnight. But as you said if every joe would by a few stock we would still have a voice.
Bon Lued the ones who WORKED for their wealth didn’t actually work for it, they just told people what to do, and they did all the WORK... all corporations and businesses and economies are built upon the labor of SLAVES... just like ancient Egypt.. not much has changed except now slaves like yourself, fight for their own oppression...
NetMage11 So woke, just like how people who teach math and engineering don’t understand math and engineering because they aren’t inventing or discovering stuff.
NetMage11 PhD means a lot if you follow the syllabus of German or Soviet economics, not the Anglo American economics. I did a PhD in economics in the university of Birmingham which used to have a programmer called National Economic Planning which used to follow the Russian Syllabus but Mrs Thacher closed its down.
Here comes the manual labor class complaining about what they do not know. Tell me how come someone who has financial assets, such as stocks, gets richer from this? If they own companies, these companies will sell less, and the stocks plumber, losing value. How is this getting richer? You can argue that they cannot get poor, they'll still be rich, but if they could choose, they'd choose a time without crisis.
You're conflating the stock market's prices with the economy's recovery. The stock market will recover on the speculation of a future recovery, the economy will not.
Recession or Depression; Whichever takes its toll after the pandemic, the 1% population of billionaires will earn and make profit regardless. I started investing last year in stocks and the pandemic just crushed the numbers, I am down to zero on my portfolio.
I'v been trading shares for 2 years now, Finally at the point where I'm leaving my job as an engineer. Best advice I could give is DO NOT trade personally as a beginner, Stick to your DEMO until you have a strategy which works.
Very correct, one needs to have a strict trading plan that covers most of your trading activity, which will help you reduce risk from unforeseen shifts in the market.
I have been copying the trades of a financial adviser in Edward Jones over 2 years, she is quite dexterous. Although this is done automatically I have been able to learn a few tricks to help me trade on my own. She takes a perfomance fee after you have made profits, her style of trading suits me perfectly and I have made profits of over $750k.
Adhering to a strategic trading plans can help investors evade some of the most common trading pitfalls. Who is the EJ adviser you copy trades and how can she reached? How much capital did you begin with?
The economist could do a bit more by focusing on the developing economies which are a crucial link in the global supply chain as well as an inevitable market force on the demand side.
Jecky Mendiola because there has to be somebody at the bottom of the pyramid... if you want your wealth, than you have to steal it from many others... in order to built yourself up, you have to break another man down... thats how capitalism and hierarchies function...
Nothing more to be said when air travel is restricted, local businesses are closed, people are dying in the thousands and everyone is in a panic. We are at a zombie apocalypse with no zombies.
@@mrconor6842 Yeah I got that it was a joke, no need to r/whoosh me. However I have never seen a "closed due to coronavirus" sign anywhere. They don't exist.
Where are they getting this number of 1 million estimated extra deaths if we end the lockdown? I'd love to see how that was calculated because I believe that's an extreme overestimation. Also, why aren't we considering all of the potential deaths that will be caused by this lockdown? Millions of people aren't able to support their families with these forced closures. There's going to be a trade-off no matter what we decide to do, and it's not a trade-off between saving lives and saving the economy. Without a functioning economy, lives are going to be lost, but for some reason no one seems to think much past the surface of the short-term consequences compared to the long-term damage we're voluntarily causing.
Finally I found someone with the same opinion as mine, I personally think that these lockdowns will lead to more damage than the virus itself...let us live our life
The way I'm thinking too, either way there will be deaths. People are dying because they won't go to hospital because of the virus. Domestic abuse, people living alone and have nobody. Suicide as family business disappears. To take the economy down at the same time as the virus is the most crazy thing ever.
Any comments posted about COVID need to be up to date. This is old out of date news. Viewers may not see the original date of release which was a year ago. A lot has happened in the past year. Remove this old news, please.
It will really be interesting. Countries such as the UK have job retention schemes meaning if a company can't afford to keep their staff, the government will move in to pay their salaries and keep their jobs. Although this increases the national debt, it effectively hibernates the economy meaning the transition back to normality is easier. On the other hand, in the US there are no such schemes and the US government has its spending priorities elsewhere with record job losses, but that doesn't mean the economy can't bounce back once people step out the house again. Personally, I think the UK strategy will work best as talent is retained and people still get paid, despite the likelihood of increased taxes next year.
Actually I'm from the UK and this is not strictly true. Although the Government did announce they would cover approximately 80% of an employee's salary up to about £2,500 per month, the actual word on the street is that there are a lot of "smoke and mirrors", by that I mean a lot of caveats and smallprint details. That's certainly the case with the so-called business support from the Government. It sounds nice on the surface until you look at the details and in order to get it, you need to put your house as collateral (only someone insane would do something like that in such an unpredictable environment). The U.S. approach is much better as the stimulus check (I think about $1,000 or so) goes straight into the pockets of households. It could be improved by being transformed into something like a temporary basic income rather than a one-off payment. By the way, I wanted to note even though the Government here made a supposed commitment to fund 80% of a person's salary, that is actually no guarantee whatsoever that businesses will be interested in the offer. In fact, despite the offer, many businesses have still chosen to lay off people anyway.
@@babatundeonabajo the job retention schemes are actually quite simple, with no hidden caveats, and cover most people. For whatever reason some companies are still choosing to layoff staff, many aren't. Fortunately many companies already had infrastructure in place to allow working from home. Not heard of using homes as collateral for biz grants. The local biz rates cuts are fairly straightforward. All told it makes far more sense to protect jobs this way.
@@babatundeonabajo I'm also from the UK and there definitely aren't the smoke and mirrors you describe. There are job losses and that inevitable but for the most part, it's working.
Look at the question. "How bad will it be for the economy"? The 1% economy? Those whose lobby money made the illegal, legal? Those who created the biggest inequality on earth? I hope they go through a 'French Revolution' moment.
Would be nice but won't ever happen. They have too much power and influence. Look at the U.S. election for christ's sake. 350 million people and two people in the running to lead us is dumb and dumber. Poor and middle class at best are posting snippy Facebook memes. That's it. That is the extent of our ability to change anything. The wealthy 1% are undoubtedly laughing at how comically powerless we are.
James Pearle it’s because we have a new program... now we’re ALL individu-ALLS... this is how divide and conquer looks... global capitalist economy... millions and billions of people completely segregated in every aspect of self perception and identity that even beginning to work together, not dependent on the system, is unimaginable... we can’t even think of a world without money... because then how would we have slaves ... I mean employees who make minimum wage work at the grocery and clothing stores so we can buy a bunch of garbage! And then how would we get someone to throw that garbage away for us?... the system has us cornered on every end... because we have been DOMESTICATED like a DOG ...
I don't get how people separate "people" and "The economy" like this, the health of people and the economy are one and the same, you can't fund hospitals without taxes and you can't get taxes without business. The only way to pull through is to pay with inflation, which even as an Austrian I admit isn't a terrible idea given the circumstances, not much different to war really.
You are wrong. Markets care more about money. Governments are putting money into the economies...more people are dying...markets bounce up. Theyll go down when they want more money.
@@slgwdhhsbsnjs Well I'm an Austrian economist so I believe that this stuff causes businesses cycles but in the case of an emergency I would permit it to a certain extent.
I remember being a teenager in the 90s and early 2000s. Its hard to fathom how fast this world spiraled out of control in the last 20 years. Only one answer to retain your sanity in these times : G-D.
The economy & stock market has been blown up over the decades of money printing which is why the downturn will be much worse. If the government can print their way out of this then some future event will be even worse.
In the case of right now COVID 19 reaches 1m cases : market goes up Millions lost their job: market goes up Asteroid hits the earth: market reaches new high
The monetary value of the loss to the economy will be met by the value of our expression of humanity in both social and strictly economic terms. This is an important test for us to see value beyond simple monetary metrics.
@@ufosrus So, you are saying that the only thing that is important is money? Or that you disagree because you don't like my rhetoric? Either one would be kind of dumb. Or are you just trolling. Dumb too.
To be able to finance an appropriate response to the pressure that COVID-19 has excreted on the ceiling of financial resources the EU will modify the purpose for which the available “appropriation under the global margin for commitments” can be used for growth in this economical recession. Take part in any investing service and earn from home.
I’ve been learning about stocks now for about two days and I was curious. Why don’t you start buying stocks when everything is down before it goes up, just to get a head start ?
A diversified investment strategy is definitely the way to go there are stocks/forex tradings that are doing well even in these times and trading options is very essential right now for your portfolio. This is a time where you might wanna consider hiring the services of an experienced traders/ investment adviser. My trader who handles all trading portfolio ensures lucrative results, they are well diversified in order to minimize the risks and optimize profits, steady profits. I already received my monthly earnings last month and I’m sure this month won’t be be any different given the progress that has made so far on my portfolio account.
Dont expect economy to start growing again until this virus is under control and that can take at least a year; specially the way this country is handling the epidemic.
@@kadir9629 my friend, you probably work online for a company that serves other companies or people that server other companies or people...... and if some of those companies fail your company fails, thus you have no job. You: cries nonetheless
To the free world: you must must include new manufacturing start ups in the national economic stimulus packages. Democratic nations need to retool and manufacture again. Global supply chains cannot be sustained.
I live in Branson Missouri, We had a soul pass yesterday, he was in the hospital for something else. Upon his death, they did a covid test which came out positive. The nurses were not wearing ppe because the supply is low, and they thought the guy was safe . now we have a situation where 50+ nurses and other medical staff have been exposed. We need help getting ppe so bad do you know of anyone that can help us?
If we follow the golden ratio of 5:1 A, 3 month pandemic should recover in 15 months. Back to where it was before the pandemic. So if we have a 6 month lockdown , we will be looking at 30 months recovery....almost 3 years.
Most of the world business depends on customer foot print in their "store/shop" specially mom-n-pop small business, now people will be scared to go out to shop 😮
This is going to be a recession like in war time. But, since we have no physical destruction and the backbone of every economy (mostly) is construction, the recovery is going to take a long time. Like getting hit by a slow moving train and treating the injuries with bandages.
I can also see the economy firing back when this is done. Most recessions are from a bubble in the market. This one is only because we chose to stop to stop working. I think it will depend on how long this lasts.
david dave when you stop building houses everything grinds to a halt. Everything involved in construction transport, materials, production, design, inspection, maintenance. Lots of low paid workers are labourers. Teenagers who leave school get jobs as workman’s mates. The construction industry has a massive effect on the economy. Actually think about how many people are involved in that one trade over the US and the same for the uk. Spain don’t build houses look at the economy.
I was just in negotiations on selling my small business and retiring when this happened....looks like I will be retiring after all but broke. Now where did I put that gas can?
I think its just s****y behaviour by some stockbrokers and stocktraders. They keep buying and selling s****y trades and bonds that bring them money in the short term but lose most people money in the long term. They invest money in many politicians re-election campaigns so that the politicians "owed them a favour or two". Thats why the politicians don't properly regulate the stock market, allowing these crashes to take place.
Its part of the normal economic cycle with the current average pace, thats why its happening at such interval (decade). Bubble is not caused by just one person, but is the natural result of the always progressing capitalistic economy and is also economic's self correcting way of stabilizing the valuation of goods and services. For example, if a listed corporation drives for more profit and growth to increase its value in the eyes of investors and potential investors, then it could increase the selling price of its products or cut some major production costs (like moving the production line to a developing country with cheap labor). Increased profit in the company's book is reflected in the economy's GDP and increased govt tax revenue collection but the collateral damages in the economy to arrive at such profitable position, such as increased prices of goods and local unemployment proves to have more negative impact in the long-run such that when it reaches its saturation point (ie. absurd high cost of living, high debt ratio per individual, high unemployment rate and low per capita income), normally after around a decade or so, then the economy collapses via the "bubble burst" where the bloated valuation of financial products like stocks or bonds from these companies reveals to be worthless because the general consumer public is just poor and have no capacity to purchase goods and services causing many corporations to dwindle down or, worse, to declare bankruptcy. Rippling into further increase of the unemployment rates and overall economic downturn (as no one purchase something anymore).
I thought as much. Serious economic crises, come about when an economic bubble occurs associated with an imbalance between supply and demand; resulting in a massive market correction (such as was the case during the housing crisis). This is a more serious issue associated with people's misconceptions about the underlying value of a asset class. However this case is different; the economy was shut for a month; so the biggest problem would be to rehire all those consumers that got laid off and getting revenues to where they were before to re-acquire the previous balance. Its a problem; but not as as big. People are panicking.
How can China be considered as "recovering very quickly" since the production facilities in China are part of global supply chains? Example: If there is no global demand for cars German factories will keep production levels at the bare minimum, thus italian suppliers who produces modules will adjust their production output accordingly (also taking in consideration the lockdown, so production will be close to 0) and this ultimetly will impact the components suppliers, generally based in China; China will not start recovering untill the world and the advanced economies interconnected to it will. We are living in a globalised and interconnected economy and as always there are pros (a lot, like lower prices ecc.) and cons (higher risk of disruption); we can not hope that one country or region can get out of this crisis while the others are still on it.
export is less than 20% of Chinese GDP, investment is over 30%, and consumption is about the same. So if domestic economy picks up in China that's over 60%, which should qualify as "quick recovery". and with other countries still in lockdown, I think China will be able to recoup a lot of the manufacturing demand. But yours is a rare reasonable and intelligent comment, respect.
@@weepingcamel1 Thank you for you observation, I definetly see your point. My observation was based on coal consumption data in China of this year (and this period) compared to the same period in previous years. If you look to those data you'll see a big shrink, and I don't think this is imputable to a sudden shift of the energy mix in the whole country.
@@Vic4ful oh yea, factories were all closed, no doubt, but the video is talking about "recovery" :-) I'm thinking domestic demand is there, international demand... maybe 2 more months, baring any more black swans...
@@weepingcamel1 I fear China will see significant resistance to it's goods after the governments reckless deceptions which have to be fair humbled the world
Except that after the international inverted yeild curves last year in June, most CEO 's cashed out their shares between July & November amidst the repo debacle & are still in cash waiting for the absolute bottom to buy back after this planetary depression. Duuuuh... come on!!! Do your research guys!!!
@@danielrodriguezschrader2466 Inverted yeild curves indicate historically that a recession is 1 to 2 years down the road. Money folks know this; when it happened last spring, money people cashed in their options & shares to wait for a crash so they can buy tjem back & others @ a great discount. making them far more money when tje market values go back up.
This is why I’m disobeying the stay at home order. It’s my duty to support as many small businesses that I can. At least the ones that haven’t already been permanently shut down
@@pjhector6538 It happens because they cannot go out of their houses to work. Home arrest should have never been considered as an option, it's death for the working class.
This question is really complicated. Say you let the lockdown continue and your stimulus package are simply not enough to help the economy recover quickly, you're going into a particularly disruptive decade ( climate change, growing unemployment, more pandemics etc.) on a weak economic footing. This may possibly result in many many more problems and lives lost due to economic, and political instability. Whereas opening lockdowns could mean more deaths, but largely restricted to one age group and more people eventually immune to the virus. Neither are right, it's simply a truly tragic decision to have to take. Hope things work out.
Lockdown buying them time to basically get the health infrastructure better prepared. If they lift the lockdown and it gets overwhelmed and many are dying people will themselves will demand a lockdown or riot. Think they going to try to control many things in the next few years to try to get the economy going but minimize the damage from the virus.
Mohammed Найм why should they fight with China? China is bound to crash from the inside within few decades when the working population will start to fall like Niagara Falls. Also the irony is that the more they are involved with the outside world, the more people will want to become “free” from censorship and restrictions, which is happening in China right now.
Not quite happy times can still b there if one choose 2 but I must admit very 2 do they stole every body's smile would a smile of hope be found any where in the world right now
If no-one is responsible for this why should anyone pay? we don't know, and we won't know for a long time, whether or not this virus was man-made or not.
Every market economy is a "bubble economy"... prices are speculatively driven. Eugene Fama's Efficient Market Hypothesis explains this best... there was no bubble here, but Coronavirus was the pin to something.
What we have seen starkly revealed by this pandemic is the profound weakness - if not the utter failure, of the neoliberal core-periphery globalization model, especially with regards to its heavy and uncertain reliance on fragile global supply chains. The future going forward - and I fully acknowledge that it is going to require a HUGE fight to get there, is going to be the exact opposite of that model. For safety and security reasons, the focus is going to shift to a return to self-reliance and resilience at the individual, local community, state, region and national level - which is what America once had and what made our Nation great. We are already seeing it happening. Regional pacts of Governors are ignoring the Presidents edicts and acting independently. Individual states, local governments and individuals are doing likewise. Large numbers of people, not just the odd Prepper or self-reliant off-the-grid permaculturist, are starting to DIY make things again, and they are going to buy local, buy regional, buy National and LAST buy global. There is going to be a big move to radically decrease dependence upon big business and big government (who are both now universally seen as profoundly corrupt, self-serving and unreliable) and a big move towards local production and consumption and decision-making, especially with regards to critical life-support infrastructure such as food, water and energy. The era of globalization and global elites running and controlling things is over!
I live off-the-grid on a self-sufficient permaculture farm in the middle of the National Forest so I’m fine. The economy should restructure such that as many people as possible - especially those who live in urban areas - should live as independently as possible from big business and big government. Don’t get me wrong, I’m not a hermit, I own a business and contribute to the larger cash economy, but unlike most people, I am not dependent upon it to live. I choose how much participation I want and I am not forced to risk my health and the health of my family just to put food on my table. I feel for those who have allowed themselves to become so dependent. Once you get through this crisis, take your life back from these controllers! Get yourself prepared before the next crisis. It took me almost a decade to restructure my life but you can do it too day by day. For your own safety and security and for the health of our democracy, I recommend that everyone do the same.
Although it was China from which the disease came into existence but I think due to their recovery their economy has a great chance to revive and they potentially can become the new leading economy leaving USA behind because of the recess in their economy. In my opinion if that happened the world could see new leaders in the shape of those who currently are developing countries because their market is mostly affected by Chinese products.
As the graph for recession types was being presented, all I could think of is that there’s one missing and it’s not a curve. And it’s not a recession...
Economy has had it. Whatever we know then double it. I see lots of riots ahead from desperate penniless people losing homes and joining the other thousands of homeless in vans or tents. People have maxed out credit cards, maxed out on loans, maxed out on mortgages, maxed out on gas guzzlers.... Lived beyond their means and now it's all come crashing down.
The Chinese have been eating this type of food (maybe not in sandwiches) for thousands of years- and they're just starting to come out of it after 4 months.
@@anonUK This may not be the point of your comment, but still wanna point out the majority of Chinese doesn't eat bats. One video that were circulating and being critized in Chinese social media turned out to be filmed in Fiji Island. Just recently I get to know that bats are traditional food for people in North Sulawesi ID and some pacific island countries. Likewise they didn't get infected. So still unclear how this happened. However it probably relates to climate change and habitat destruction among globe. We may see more epidemic/pandemic coming.
@@IdleCommentator But I don't think anyone is suggesting a "do nothing" approach. Sweden's model or quarantining the elderly and those with underlying health conditions may have been a better strategy. A lockdown limits infection but at the same time limits herd immunity and increases vulnerability to subsequent waves of infection. In the end all strategies are a gamble. But as it stands we may save 10s or 100s of thousands of people but at the same time plunge 10x that into poverty.
@@mjribes The models show that without quarantine in most the majority of population in most countries will get infected in a relatively short period of time (the Disease-That-Shall-Not-Be-Named has considerably higher infection rates than flu). This will tank the economy just as effectively as isolation period.
@@mjribes Also there is a possibility that allowing the Disease-That-Shall-Not-Be-Named to just go through population may not be that helpful with the herd immunity - there are indications that it may have high reinfection rate, so if this turns out to be true people will just get sick for the second time.
@@IdleCommentator The vast majority of people being asymptomatic or having only mild symptoms means that allowing the general population (less the elderly and at-risk) to get infected would have a negligible impact on the economy. The question is whether healthcare systems would cope. Models vary. Some are apocalyptic and others not so much. As for immunity being transient, the data is inconclusive. As I said, this is all a gamble at the moment. And most governments are gambling that a vaccine will become available before repeated/extended lockdowns and waves of infection cause economic ruin and countries to descend into unrest. At the moment the biggest risk to the society is not the virus itself but the social upheaval caused by our response to it.
If you happen to be concerned about a developing and life-sustaining economy in the future, with viruses not going away, and plenty that are more lethal than coronavirus, it will be necessary to change the isolation paradigm of disease control, which is manifestly inconsistent with global trade and travel, and to begin to think instead in terms of immunity augmentation. While vaccines are fine and necessary, and should be developed as quickly and safely as possible, "flattening the curve," without devastation of global economic activity, must include (1) quick identification of disease-relevant deficiencies in human nutrition which impact susceptibility; (2) existing pharmacological interventions which can be rapidly deployed at low cost, and at scale; and (3) immediate identification of limited genetic and comorbidity subgroups, such as those of advanced age or, for example, smokers and diabetics, which present a genuine need for social distancing due to demonstrated enhanced susceptibility to the particular illness at issue. Viral disease, in particular, is not a bulldozer razing everything in its path - there are always issues of susceptibility and natural immunity that provide adequate means for curve flattening.
Lesson One: The sharemarket does NOT drive the economy. It is merely a measure of confidence.
Lesson Two: Do not sale phones and other junk for 1000$.
Lesson Three: There is no economy if there are no human alive
@@lespaceman take some pills man, chill.
Indeed. Its the confidence put forth by the market that the listed companies' equites/shares are profitable and has growth potential in the future--thus the "going concern" principle.
This principle HOWEVER barely (or never) take into account worst case economic scenarios like this one since these kind of events (ie. pandemic) are not statistically common and are not within the forecasting model. COVID pandemic is a surprise for everyone and, sadly, to our economy too.
Its only natural that global economy will crash due to lockdowns and even into a level thats unprecendented in our history if this conditions persists (aka. next depression in a global scale).
Sure sure u buffon
Sitting at home in 2019: Lazy person
Sitting at home in 2020: Responsible citizens
According to baby boomers it is millennial dreams -
Baby boomers - "You ain't doing nothing and you are acting like you are saving the world. Think bout your future son. You ain't going to get noting by slipping on couch and watching TV all day"
Millennial - "Doctor are saying to stay home. So I am staying home. Can I watch TV I am bored by doing nothing whole day"
Baby Boomer - "Yeah, I ain't trust those so called doctor. I have my Jesus with me and I believe in Trump"
Geez... 😂
@@georgegray2712 how about a young male gamer sitting in his attic?
have a nice SLEEP
loooooooooooooooooooooooooool gold comment
It wasn't "created by the pandemic" it was triggered by the pandemic
man people cant travel
Started prepping October 2019 after looking at the Global Debt Clock..... Minus trillions. Knew 2020 was going to be financially a train wreck... Virus sped it up. ..... And me just a Welsh nobody with no qualifications..... Makes me wonder how people vote people in that know nothing.
Robt. Miller What you just said means the same
@@rmcd823 Not at all. The cause has been waiting for over 5 years, it needed a trigger to set things off. If it hadn't been Covid it may have been the Oil Price war, cold war, any minor shock.
It's people we caused the spread in the first place but welcome covid you are the next thing to blame in this world people have to just grow
When you find out your advanced economy models are actually the playground of a few very rich individuals. Well, that might come to an end.
I doubt that.
They’re still playing games, still making money.
Well, maybe if the average joe bought even one stock once in a while it wouldn't be that way. If a million average joes buy just one stock it'll really eat into these few rich individuals.
@@Junokaii you are right but usually we the average joe`s say it no point if we don`t get rich overnight. But as you said if every joe would by a few stock we would still have a voice.
Bon Lued the ones who WORKED for their wealth didn’t actually work for it, they just told people what to do, and they did all the WORK... all corporations and businesses and economies are built upon the labor of SLAVES... just like ancient Egypt.. not much has changed except now slaves like yourself, fight for their own oppression...
Alot of elite economist in the comment section.
NetMage11 So woke, just like how people who teach math and engineering don’t understand math and engineering because they aren’t inventing or discovering stuff.
But if they are British they are pro-Chinese
NetMage11 PhD means a lot if you follow the syllabus of German or Soviet economics, not the Anglo American economics. I did a PhD in economics in the university of Birmingham which used to have a programmer called National Economic Planning which used to follow the Russian Syllabus but Mrs Thacher closed its down.
Jealous?
@NetMage11 Did it ever occur to you that some people might like teaching and/or research better than trading?
Recession or Depression, the top 1% would only get richer at the expense on the rest.
Here comes the manual labor class complaining about what they do not know. Tell me how come someone who has financial assets, such as stocks, gets richer from this? If they own companies, these companies will sell less, and the stocks plumber, losing value. How is this getting richer? You can argue that they cannot get poor, they'll still be rich, but if they could choose, they'd choose a time without crisis.
.01% will get richer. They buy up everything at reduced prices. The super rich (Rothschild, Soros, etc) get richer by owning more as we own less.
@@ev.c6
Hedge funds. Short-selling. There's quite a few ways of turning other people's catastrophes into another payday for you.
@@anonUK All of those are part of a diversified portfolio. No one will go all-in shorting.
@@ev.c6
Not until it's profitable. Then, you can feast on that carrion of other people's careers and life chances!
You're conflating the stock market's prices with the economy's recovery. The stock market will recover on the speculation of a future recovery, the economy will not.
And then the stock market will die again but even worse
@@jacobpuvan3131 Then jump back as algorithms bet against each other of when the game of chicken ends.
Hiii can u help me?
"I let go. Lost in oblivion. Dark and silent and complete. I found freedom. Losing all hope was freedom." - Tyler Durden
The stock market does not reflect the economy.
JD it can, but in this case, the government pumped direct money into so I would agree.
The reason they sell is they are to highly leveraged and gets margin called...
Recession or Depression; Whichever takes its toll after the pandemic, the 1% population of billionaires will earn and make profit regardless. I started investing last year in stocks and the pandemic just crushed the numbers, I am down to zero on my portfolio.
I'v been trading shares for 2 years now, Finally at the point where I'm leaving my job as an engineer. Best advice I could give is DO NOT trade personally as a beginner, Stick to your DEMO until you have a strategy which works.
Did you make gains from DEMO? Why are you quitting your job then?
Very correct, one needs to have a strict trading plan that covers most of your trading activity, which will help you reduce risk from unforeseen shifts in the market.
I have been copying the trades of a financial adviser in Edward Jones over 2 years, she is quite dexterous. Although this is done automatically I have been able to learn a few tricks to help me trade on my own. She takes a perfomance fee after you have made profits, her style of trading suits me perfectly and I have made profits of over $750k.
Adhering to a strategic trading plans can help investors evade some of the most common trading pitfalls. Who is the EJ adviser you copy trades and how can she reached? How much capital did you begin with?
The economist could do a bit more by focusing on the developing economies which are a crucial link in the global supply chain as well as an inevitable market force on the demand side.
Very sensible. Already we are seeing problems with global food supply chains. Very scary stuff.
David Lockett and why is that?
Padmanav Mishra yes the DEVEL-OP-IN-g .... e-CON-NO-mies .... are so crucial for the market on the DEMON side...
Jecky Mendiola because there has to be somebody at the bottom of the pyramid... if you want your wealth, than you have to steal it from many others... in order to built yourself up, you have to break another man down... thats how capitalism and hierarchies function...
cameron taylor thanks but I was actually asking David why he commented "Dream On".
Wow, i wish we appreciated our blessings back in the day
Absolutely brother 👌
Some did and do....
Because we don’t know what we have until it’s gone... it’s the human condition!
I expected more from The Economist that this primer level summary
Buy the print then lol.
Nothing more to be said when air travel is restricted, local businesses are closed, people are dying in the thousands and everyone is in a panic. We are at a zombie apocalypse with no zombies.
@@willasbury if you bought it you would agree. this is NOT the Economist of my youth
@@ericli2936 you sound like a real drama queen. When everyone says don't panic, first thing that probably goes to your mind is "paniicc"
I expected more from u what happened
And that was back when 2.3 trillion dollars was a lot of money
That will buy you a loaf of bread in a couple of years
Shows that we have armed ourselves agaisnt the wrong enemy more like against ourselves. May this be a wake up call for the whole world.
I doubt i really changes anything, humans have notoriously short memories.
we didnt arm ourselves. the elites did.
May b 4 a few the died a long time a go just going through the motions looks like life nothing on the inside
@@ChispyReddit any excuses 4 not arming ur self
Any economy that is this vulnerable to a temporary disruption needs to be reformed.
valar lol the economy crash in just two weeks
proof you dont understand economy in its core.
The guys making "closed due to coronavirus" signs are doing well
supply n demand
All the "signs" in shop and restaurant windows I've seen are homemade written notices written oprinted off of regular computer printers
@@SurprisinglyDeep R/whoosh
@@mrconor6842 Yeah I got that it was a joke, no need to r/whoosh me. However I have never seen a "closed due to coronavirus" sign anywhere. They don't exist.
closed due to government extortion
Where are they getting this number of 1 million estimated extra deaths if we end the lockdown? I'd love to see how that was calculated because I believe that's an extreme overestimation. Also, why aren't we considering all of the potential deaths that will be caused by this lockdown? Millions of people aren't able to support their families with these forced closures. There's going to be a trade-off no matter what we decide to do, and it's not a trade-off between saving lives and saving the economy. Without a functioning economy, lives are going to be lost, but for some reason no one seems to think much past the surface of the short-term consequences compared to the long-term damage we're voluntarily causing.
Finally I found someone with the same opinion as mine, I personally think that these lockdowns will lead to more damage than the virus itself...let us live our life
The way I'm thinking too, either way there will be deaths. People are dying because they won't go to hospital because of the virus. Domestic abuse, people living alone and have nobody. Suicide as family business disappears. To take the economy down at the same time as the virus is the most crazy thing ever.
Any comments posted about COVID need to be up to date. This is old out of date news. Viewers may not see the original date of release which was a year ago. A lot has happened in the past year. Remove this old news, please.
Spoiler: We dont know
Thanks for that Guys... essential sensible reporting!
What is happening today should be a wake-up to America.Make what you need.
Correct, or, have a mechanism where they can change from International to domestic economies quickly.
Instead America wastes trillions on weapons of mass destruction, instead of it's people.
Small businesses will suffer the most, and much more damages has yet to come . . . . .
It will really be interesting. Countries such as the UK have job retention schemes meaning if a company can't afford to keep their staff, the government will move in to pay their salaries and keep their jobs. Although this increases the national debt, it effectively hibernates the economy meaning the transition back to normality is easier. On the other hand, in the US there are no such schemes and the US government has its spending priorities elsewhere with record job losses, but that doesn't mean the economy can't bounce back once people step out the house again. Personally, I think the UK strategy will work best as talent is retained and people still get paid, despite the likelihood of increased taxes next year.
Actually I'm from the UK and this is not strictly true. Although the Government did announce they would cover approximately 80% of an employee's salary up to about £2,500 per month, the actual word on the street is that there are a lot of "smoke and mirrors", by that I mean a lot of caveats and smallprint details. That's certainly the case with the so-called business support from the Government. It sounds nice on the surface until you look at the details and in order to get it, you need to put your house as collateral (only someone insane would do something like that in such an unpredictable environment).
The U.S. approach is much better as the stimulus check (I think about $1,000 or so) goes straight into the pockets of households. It could be improved by being transformed into something like a temporary basic income rather than a one-off payment.
By the way, I wanted to note even though the Government here made a supposed commitment to fund 80% of a person's salary, that is actually no guarantee whatsoever that businesses will be interested in the offer. In fact, despite the offer, many businesses have still chosen to lay off people anyway.
@@babatundeonabajo the job retention schemes are actually quite simple, with no hidden caveats, and cover most people. For whatever reason some companies are still choosing to layoff staff, many aren't. Fortunately many companies already had infrastructure in place to allow working from home.
Not heard of using homes as collateral for biz grants. The local biz rates cuts are fairly straightforward.
All told it makes far more sense to protect jobs this way.
Canada has it
@@babatundeonabajo I'm also from the UK and there definitely aren't the smoke and mirrors you describe. There are job losses and that inevitable but for the most part, it's working.
im from the uk an the govt are a bunch of lying b@st@ds
Look at the question. "How bad will it be for the economy"? The 1% economy? Those whose lobby money made the illegal, legal? Those who created the biggest inequality on earth? I hope they go through a 'French Revolution' moment.
Would be nice but won't ever happen. They have too much power and influence. Look at the U.S. election for christ's sake. 350 million people and two people in the running to lead us is dumb and dumber. Poor and middle class at best are posting snippy Facebook memes. That's it. That is the extent of our ability to change anything. The wealthy 1% are undoubtedly laughing at how comically powerless we are.
I hope you are not socialistic but right wing
James Pearle it’s because we have a new program... now we’re ALL individu-ALLS... this is how divide and conquer looks... global capitalist economy... millions and billions of people completely segregated in every aspect of self perception and identity that even beginning to work together, not dependent on the system, is unimaginable... we can’t even think of a world without money... because then how would we have slaves ... I mean employees who make minimum wage work at the grocery and clothing stores so we can buy a bunch of garbage! And then how would we get someone to throw that garbage away for us?... the system has us cornered on every end... because we have been DOMESTICATED like a DOG ...
I don't get how people separate "people" and "The economy" like this, the health of people and the economy are one and the same, you can't fund hospitals without taxes and you can't get taxes without business. The only way to pull through is to pay with inflation, which even as an Austrian I admit isn't a terrible idea given the circumstances, not much different to war really.
You are wrong. Markets care more about money. Governments are putting money into the economies...more people are dying...markets bounce up. Theyll go down when they want more money.
@@slgwdhhsbsnjs Yeah that's what I mean, the funding for times like now is with inflation and monetary measures that'll cost us in the long run.
@@slgwdhhsbsnjs Well I'm an Austrian economist so I believe that this stuff causes businesses cycles but in the case of an emergency I would permit it to a certain extent.
I remember being a teenager in the 90s and early 2000s. Its hard to fathom how fast this world spiraled out of control in the last 20 years. Only one answer to retain your sanity in these times : G-D.
Matthew Poreda time flies
@@learnit465 yeah man im 33 I know its not that old but I remember being 18 like its not that long ago.
The economy & stock market has been blown up over the decades of money printing which is why the downturn will be much worse. If the government can print their way out of this then some future event will be even worse.
John L. - Well May be, but never been that way yet in history, so what is the factual cause this time?
In the case of right now
COVID 19 reaches 1m cases : market goes up
Millions lost their job: market goes up
Asteroid hits the earth: market reaches new high
Astroid? What you talking bout willis?
😝😝
The monetary value of the loss to the economy will be met by the value of our expression of humanity in both social and strictly economic terms. This is an important test for us to see value beyond simple monetary metrics.
The old expression is that a recession is when my neighbour loses his job, depression is when I lose mine.
Ben fidar: You sound like an "intellectual" character from a Woody Allen movie.
@@ufosrus So, you are saying that the only thing that is important is money? Or that you disagree because you don't like my rhetoric? Either one would be kind of dumb. Or are you just trolling. Dumb too.
@@benfidar Youre still putting yourself and people as special. I don't think we are.
To be able to finance an appropriate response to the pressure that COVID-19 has excreted on the ceiling of financial resources the EU will modify the purpose for which the available “appropriation under the global margin for commitments” can be used for growth in this economical recession. Take part in any investing service and earn from home.
I agree
I’ve been learning about stocks now for about two days and I was curious. Why don’t you start buying stocks when everything is down before it goes up, just to get a head start ?
A diversified investment strategy is definitely the way to go there are stocks/forex tradings that are doing well even in these times and trading options is very essential right now for your portfolio. This is a time where you might wanna consider hiring the services of an experienced traders/ investment adviser. My trader who handles all trading portfolio ensures lucrative results, they are well diversified in order to minimize the risks and optimize profits, steady profits. I already received my monthly earnings last month and I’m sure this month won’t be be any different given the progress that has made so far on my portfolio account.
Discuss more with my portfolio manager Mr Charles Allen on the basic measures to take.
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Dont expect economy to start growing again until this virus is under control and that can take at least a year; specially the way this country is handling the epidemic.
Cavius i think at some point governments are gonna have to decide to save the economy instead of saving people’s life’s
Asia Maria It’s “lives”
@@asialanzi5471 I don't think you understand what would happen if we don't lock down. The economy didn't boom during the plague.....
Cavius what is “this country”? America? The world is not America.
Asia Maria life come first.
"The prices of goods are falling..."
Me: *smiles*
Jay Esta. Fayza You get fired and your parents pensions evaporate.
You: *don’t smile anymore*
Idiot, how will a pleb like yourself get a job? Will you be smiling then??
@@kadir9629 you really think a global depression that will affect billions of others will never affect you?
@@kadir9629 my friend, you probably work online for a company that serves other companies or people that server other companies or people...... and if some of those companies fail your company fails, thus you have no job.
You: cries nonetheless
Dadiro people won’t be buying video games when they are broke
Even after things pick up, many businesses won’t be open for business. Expect a “readjustment” of the economy.
To the free world: you must must include new manufacturing start ups in the national economic stimulus packages. Democratic nations need to retool and manufacture again. Global supply chains cannot be sustained.
Avoid buying Chinese products.
@@DipakBose-bq1vv absolutely
Sorry don't need any more tools got enuf
@@DipakBose-bq1vv avoid comments like urs
Don’t put all your eggs in one basket.
Big up the NHS!!💙
Interesting the same people in Feb said the effect would be minimal
I live in Branson Missouri, We had a soul pass yesterday, he was in the hospital for something else. Upon his death, they did a covid test which came out positive. The nurses were not wearing ppe because the supply is low, and they thought the guy was safe . now we have a situation where 50+ nurses and other medical staff have been exposed. We need help getting ppe so bad do you know of anyone that can help us?
i pray for everyone
My wife ordered masks from amazon, made in China ...last week
The disruptions in the supply chain started with the trade wars.
If we follow the golden ratio of 5:1 A, 3 month pandemic should recover in 15 months. Back to where it was before the pandemic. So if we have a 6 month lockdown , we will be looking at 30 months recovery....almost 3 years.
What do we do
Most of the world business depends on customer foot print in their "store/shop" specially mom-n-pop small business, now people will be scared to go out to shop 😮
What are they gonna shop with?
This is going to be a recession like in war time. But, since we have no physical destruction and the backbone of every economy (mostly) is construction, the recovery is going to take a long time.
Like getting hit by a slow moving train and treating the injuries with bandages.
I can also see the economy firing back when this is done. Most recessions are from a bubble in the market. This one is only because we chose to stop to stop working. I think it will depend on how long this lasts.
david dave when you stop building houses everything grinds to a halt. Everything involved in construction transport, materials, production, design, inspection, maintenance. Lots of low paid workers are labourers. Teenagers who leave school get jobs as workman’s mates. The construction industry has a massive effect on the economy. Actually think about how many people are involved in that one trade over the US and the same for the uk. Spain don’t build houses look at the economy.
I was just in negotiations on selling my small business and retiring when this happened....looks like I will be retiring after all but broke. Now where did I put that gas can?
Shhhhh ..... your not supposed to say that out load.
@@poodtang2104 I used my inside voice.
Stay strong you sir
@@TheIndieholic Agreed.
Maybe the better question is: will there be an economy?
@@knoxctry1569 r/im14andthisisdeep
Every 10 - 12 years a recession so concidently who is behind all these bubbles economy, anyone curious about these ???
I think its just s****y behaviour by some stockbrokers and stocktraders. They keep buying and selling s****y trades and bonds that bring them money in the short term but lose most people money in the long term. They invest money in many politicians re-election campaigns so that the politicians "owed them a favour or two". Thats why the politicians don't properly regulate the stock market, allowing these crashes to take place.
Its part of the normal economic cycle with the current average pace, thats why its happening at such interval (decade).
Bubble is not caused by just one person, but is the natural result of the always progressing capitalistic economy and is also economic's self correcting way of stabilizing the valuation of goods and services.
For example, if a listed corporation drives for more profit and growth to increase its value in the eyes of investors and potential investors, then it could increase the selling price of its products or cut some major production costs (like moving the production line to a developing country with cheap labor). Increased profit in the company's book is reflected in the economy's GDP and increased govt tax revenue collection but the collateral damages in the economy to arrive at such profitable position, such as increased prices of goods and local unemployment proves to have more negative impact in the long-run such that when it reaches its saturation point (ie. absurd high cost of living, high debt ratio per individual, high unemployment rate and low per capita income), normally after around a decade or so, then the economy collapses via the "bubble burst" where the bloated valuation of financial products like stocks or bonds from these companies reveals to be worthless because the general consumer public is just poor and have no capacity to purchase goods and services causing many corporations to dwindle down or, worse, to declare bankruptcy. Rippling into further increase of the unemployment rates and overall economic downturn (as no one purchase something anymore).
no news from North Korea since this started, I wonder how they are getting on
No testing, no virus.
no news from north korea. period.
Big incentive to stay well because they shoot you if you get it.
They will be dying miserably beneath their lying despot
@@sren.matthiesen9270 Yes easy
Short answer: Very bad
I thought as much. Serious economic crises, come about when an economic bubble occurs associated with an imbalance between supply and demand; resulting in a massive market correction (such as was the case during the housing crisis). This is a more serious issue associated with people's misconceptions about the underlying value of a asset class. However this case is different; the economy was shut for a month; so the biggest problem would be to rehire all those consumers that got laid off and getting revenues to where they were before to re-acquire the previous balance. Its a problem; but not as as big. People are panicking.
How can China be considered as "recovering very quickly" since the production facilities in China are part of global supply chains? Example: If there is no global demand for cars German factories will keep production levels at the bare minimum, thus italian suppliers who produces modules will adjust their production output accordingly (also taking in consideration the lockdown, so production will be close to 0) and this ultimetly will impact the components suppliers, generally based in China; China will not start recovering untill the world and the advanced economies interconnected to it will.
We are living in a globalised and interconnected economy and as always there are pros (a lot, like lower prices ecc.) and cons (higher risk of disruption); we can not hope that one country or region can get out of this crisis while the others are still on it.
export is less than 20% of Chinese GDP, investment is over 30%, and consumption is about the same. So if domestic economy picks up in China that's over 60%, which should qualify as "quick recovery". and with other countries still in lockdown, I think China will be able to recoup a lot of the manufacturing demand. But yours is a rare reasonable and intelligent comment, respect.
@@weepingcamel1 Thank you for you observation, I definetly see your point. My observation was based on coal consumption data in China of this year (and this period) compared to the same period in previous years. If you look to those data you'll see a big shrink, and I don't think this is imputable to a sudden shift of the energy mix in the whole country.
@@Vic4ful oh yea, factories were all closed, no doubt, but the video is talking about "recovery" :-) I'm thinking domestic demand is there, international demand... maybe 2 more months, baring any more black swans...
@@weepingcamel1 I hope you are right! Only time will tell.
@@weepingcamel1 I fear China will see significant resistance to it's goods after the governments reckless deceptions which have to be fair humbled the world
Except that after the international inverted yeild curves last year in June, most CEO 's cashed out their shares between July & November amidst the repo debacle & are still in cash waiting for the absolute bottom to buy back after this planetary depression.
Duuuuh... come on!!! Do your research guys!!!
Gaël des Montagnes Noires please explain
@@danielrodriguezschrader2466 Inverted yeild curves indicate historically that a recession is 1 to 2 years down the road. Money folks know this; when it happened last spring, money people cashed in their options & shares to wait for a crash so they can buy tjem back & others @ a great discount. making them far more money when tje market values go back up.
Economy can rise again, not the dead.
more people will die if economy falls
@@ricachuu633 and far more will die if we don't stay at home.
Neko Ricachuu nha bro, maybe you won’t afford next iPhone, but you are not gonna starve to death, at least in the west, better poor than dead
This is why I’m disobeying the stay at home order. It’s my duty to support as many small businesses that I can. At least the ones that haven’t already been permanently shut down
What kind of economy do you have where losing a MILLION lives has less impact than saving them!?
One that takes into consideration the finantial security of the other millions I guess 😂😂
@@caliac or just the financial security of the top 10%. Cause a lot of people have been struggling even before this pandemic came a long...
@@pjhector6538 well, the top 10% are not the ones looting food in the South of Italy now... 😅
@@caliac Mass Looting happens because people lack better options in a society that does not cater for them. Lets hope for better days soon
@@pjhector6538 It happens because they cannot go out of their houses to work. Home arrest should have never been considered as an option, it's death for the working class.
Once this pandemic Is over with the economy will rise massively.. think about it
Over what time?
"Even Gold is going down..
●
Gold was $1450 an once December 2019
Gold today is $1650
The economist says Gold is going down...lol
Gold and bitcoin ❤️
Finally !!! 😍
This question is really complicated. Say you let the lockdown continue and your stimulus package are simply not enough to help the economy recover quickly, you're going into a particularly disruptive decade ( climate change, growing unemployment, more pandemics etc.) on a weak economic footing. This may possibly result in many many more problems and lives lost due to economic, and political instability. Whereas opening lockdowns could mean more deaths, but largely restricted to one age group and more people eventually immune to the virus. Neither are right, it's simply a truly tragic decision to have to take. Hope things work out.
Lockdown buying them time to basically get the health infrastructure better prepared. If they lift the lockdown and it gets overwhelmed and many are dying people will themselves will demand a lockdown or riot. Think they going to try to control many things in the next few years to try to get the economy going but minimize the damage from the virus.
Don't believe China's numbers. Although, I don't mind them experimenting with "opening up". This whole situation is still very unknown.
Everything is going as planned
What plan?
@@mig-29 the NWO or whatever these religous nut believe in.
@@Longmachao how does it feel to have your head in the sand? Idiot.
Thanks a lot for the interview
THE RECENTEST GLOBAL ECONOMIC DEPRESSION LASTED FOR 24 YEARS ;
1929--1953 ;
JUST YOU ASK ANYONE WHO WAS THERE AND LIVED THROUGH THOSE 24 YEARS.
I was wondering, what is this video format? Documentary or news features?
They need to hurry up with those stimulus checks before I lose my place!!!
Blessings to you brother
Wherever you are count your blessings...many in a much more desperate situation in this calamity. Be strong be proactive
These are truly scary times
Time to slowly buy up shares at a massive discount!
Invest in tech, AI, cannabis, travel, banks, airlines too big to go broke.
@@masyaf897 pharmaceuticals
Main Street pays, Wall Street wins, Main Street dies? Wall Street cries
“even gold is going down”. Economist:”Master, message delivered”
No cases in North Korea our gdp is growing
WW3 coming
With China?
Wars cost money
Mohammed Найм why should they fight with China? China is bound to crash from the inside within few decades when the working population will start to fall like Niagara Falls. Also the irony is that the more they are involved with the outside world, the more people will want to become “free” from censorship and restrictions, which is happening in China right now.
War great u go fight it 4 us don't come back now
@@roccoanthony8930 well, do not underestimate Chinese people, because they are communist.
This is the kind of reporting, and thinking, the world needs now...
Back to "ground Zero" .
Start from zero.
Gambers, Happy times could be over.
Not quite happy times can still b there if one choose 2 but I must admit very 2 do they stole every body's smile would a smile of hope be found any where in the world right now
6.6 million! Plus the million in uk signed up to universal credit proved the system doesn’t work
have you an alternative? In 1906, Alfred Henry Lewis stated, “There are only nine meals between mankind and anarchy.”
I don't think he used the expression "deus ex machina" in the right way...
Rodrigo Reston I had the same thought 🤣
Deus ex mankind divided
Diabolus ex machina
He used in exactly the wrong way. It means the opposite of what he said.
Exactly what I thought, I even looked up the meaning immediately after that.
someone has to pay for this. China? WHO?
If no-one is responsible for this why should anyone pay? we don't know, and we won't know for a long time, whether or not this virus was man-made or not.
Time to disrupt central bank !!!!!
🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥
Thanks
Such a Keynesian Magazine. It's a bubble economy and corona an early but eventual pin.
Every market economy is a "bubble economy"... prices are speculatively driven. Eugene Fama's Efficient Market Hypothesis explains this best... there was no bubble here, but Coronavirus was the pin to something.
What we have seen starkly revealed by this pandemic is the profound weakness - if not the utter failure, of the neoliberal core-periphery globalization model, especially with regards to its heavy and uncertain reliance on fragile global supply chains. The future going forward - and I fully acknowledge that it is going to require a HUGE fight to get there, is going to be the exact opposite of that model. For safety and security reasons, the focus is going to shift to a return to self-reliance and resilience at the individual, local community, state, region and national level - which is what America once had and what made our Nation great. We are already seeing it happening. Regional pacts of Governors are ignoring the Presidents edicts and acting independently. Individual states, local governments and individuals are doing likewise. Large numbers of people, not just the odd Prepper or self-reliant off-the-grid permaculturist, are starting to DIY make things again, and they are going to buy local, buy regional, buy National and LAST buy global. There is going to be a big move to radically decrease dependence upon big business and big government (who are both now universally seen as profoundly corrupt, self-serving and unreliable) and a big move towards local production and consumption and decision-making, especially with regards to critical life-support infrastructure such as food, water and energy. The era of globalization and global elites running and controlling things is over!
I live off-the-grid on a self-sufficient permaculture farm in the middle of the National Forest so I’m fine. The economy should restructure such that as many people as possible - especially those who live in urban areas - should live as independently as possible from big business and big government. Don’t get me wrong, I’m not a hermit, I own a business and contribute to the larger cash economy, but unlike most people, I am not dependent upon it to live. I choose how much participation I want and I am not forced to risk my health and the health of my family just to put food on my table. I feel for those who have allowed themselves to become so dependent. Once you get through this crisis, take your life back from these controllers! Get yourself prepared before the next crisis. It took me almost a decade to restructure my life but you can do it too day by day. For your own safety and security and for the health of our democracy, I recommend that everyone do the same.
You should read "The Accidental Superpower", " The Absent Superpower" and "Disunited Nations" by Peter Zeihan.
Although it was China from which the disease came into existence but I think due to their recovery their economy has a great chance to revive and they potentially can become the new leading economy leaving USA behind because of the recess in their economy. In my opinion if that happened the world could see new leaders in the shape of those who currently are developing countries because their market is mostly affected by Chinese products.
As the graph for recession types was being presented, all I could think of is that there’s one missing and it’s not a curve. And it’s not a recession...
Spain: € *300*,000,000,000
England: £ *330*,000,000,000
America: *_$3,000,000,000,000_*
lol
Gold is still the safe heaven.
@@shihaong2220 Gold already did drop, now it is back up
Economy has had it. Whatever we know then double it. I see lots of riots ahead from desperate penniless people losing homes and joining the other thousands of homeless in vans or tents. People have maxed out credit cards, maxed out on loans, maxed out on mortgages, maxed out on gas guzzlers.... Lived beyond their means and now it's all come crashing down.
Useless video. Thought Economist has some insights, but just usual blah blah blah.
Andrew Song yes, but at least they gave a previously disadvantaged, gender non-specific Miley Cyrus fan a chance to write an article
Yes. Heavy on pathos light on detail. Could be something from bbc newsite.
Two years later and we're still here.
Maybe we should have been eating roasted bat sandwiches to build a tolerance for the disease.
smart lad.
Ooooooh
It's not just bat. The virus is chimeric so you may have to eat pangolin and snake soup too.
The Chinese have been eating this type of food (maybe not in sandwiches) for thousands of years- and they're just starting to come out of it after 4 months.
@@anonUK This may not be the point of your comment, but still wanna point out the majority of Chinese doesn't eat bats.
One video that were circulating and being critized in Chinese social media turned out to be filmed in Fiji Island. Just recently I get to know that bats are traditional food for people in North Sulawesi ID and some pacific island countries. Likewise they didn't get infected. So still unclear how this happened. However it probably relates to climate change and habitat destruction among globe. We may see more epidemic/pandemic coming.
Best report ever
Stock markets have turned red but the AQI in Delhi has turned green
Hydrochloroquin!
People still do not seem to understand that a depression kills people.
Life kills people
2:28 wicked👁👹
This what happens when critical thinking actually gets ignored over foolish emotions and paranoia.
Shows money means more than human life.
Shut everything down for a case of the sniffles smh
The calculation here is deaths vs suffering. Don't lockdown and more will die. Lock down and many will suffer economic ruin and poverty.
It is not that simple. The "do nothing" variant will still result in economic downturn - and not only higher death rates.
@@IdleCommentator But I don't think anyone is suggesting a "do nothing" approach. Sweden's model or quarantining the elderly and those with underlying health conditions may have been a better strategy. A lockdown limits infection but at the same time limits herd immunity and increases vulnerability to subsequent waves of infection.
In the end all strategies are a gamble. But as it stands we may save 10s or 100s of thousands of people but at the same time plunge 10x that into poverty.
@@mjribes The models show that without quarantine in most the majority of population in most countries will get infected in a relatively short period of time (the Disease-That-Shall-Not-Be-Named has considerably higher infection rates than flu). This will tank the economy just as effectively as isolation period.
@@mjribes Also there is a possibility that allowing the Disease-That-Shall-Not-Be-Named to just go through population may not be that helpful with the herd immunity - there are indications that it may have high reinfection rate, so if this turns out to be true people will just get sick for the second time.
@@IdleCommentator The vast majority of people being asymptomatic or having only mild symptoms means that allowing the general population (less the elderly and at-risk) to get infected would have a negligible impact on the economy. The question is whether healthcare systems would cope.
Models vary. Some are apocalyptic and others not so much. As for immunity being transient, the data is inconclusive. As I said, this is all a gamble at the moment. And most governments are gambling that a vaccine will become available before repeated/extended lockdowns and waves of infection cause economic ruin and countries to descend into unrest.
At the moment the biggest risk to the society is not the virus itself but the social upheaval caused by our response to it.
Wait.... 2020 aint over
If you happen to be concerned about a developing and life-sustaining economy in the future, with viruses not going away, and plenty that are more lethal than coronavirus, it will be necessary to change the isolation paradigm of disease control, which is manifestly inconsistent with global trade and travel, and to begin to think instead in terms of immunity augmentation. While vaccines are fine and necessary, and should be developed as quickly and safely as possible, "flattening the curve," without devastation of global economic activity, must include (1) quick identification of disease-relevant deficiencies in human nutrition which impact susceptibility; (2) existing pharmacological interventions which can be rapidly deployed at low cost, and at scale; and (3) immediate identification of limited genetic and comorbidity subgroups, such as those of advanced age or, for example, smokers and diabetics, which present a genuine need for social distancing due to demonstrated enhanced susceptibility to the particular illness at issue. Viral disease, in particular, is not a bulldozer razing everything in its path - there are always issues of susceptibility and natural immunity that provide adequate means for curve flattening.
I m hoping to see a real economic report for specific sector of the economy ! Rather am sick of news who is trying to sell a panic audience market !