Jesus wept! After Fed tries to put out Wall St fire with gasoline using a 50 point rate cut – the Dow finishes down 789 points!
Yesterdays euphoria was delusional and traders are suddenly realising cheaper credit doesn’t cure a virus
Shit. Just. Got. Real.
We aren’t even at the pandemic yet.
Imagine what happens when we start running out of things because supply chains close down.
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Imagine how the panic spreads on Social media in a way it couldn’t during the Spanish flu.
Imagine what happens when enforced quarantines take effect.
Imagine how we deal with second, third and fourth waves of this on health systems that will be broken from the first wave.
Remember the previous claims by our Scientists and Drs that this was all overblown?
Remember when the NZ Twitter woke elites screamed this was all racism and xenophobia?
This isn’t a woke identity politics issue, it’s always been a public health danger and economic threat.
Anecdotally a lot of this panic buying we are seeing in NZ is being conducted by Asian-New Zealanders.
How much backlash is that going to cause when stocks can’t get replenished on time? Many NZers live week to week when it comes to groceries, how will they react when they can’t buy those groceries?
This may not have started as a Xenophobic backlash, but when hungry people start running out of food and a diaspora can be identified as the ones hoarding, things can quickly spiral out of control.
As TDB pointed out from the beginning, we are not appreciating the severity of risk from this novel virus.
The reality is the threat of this pandemic will only abate once we have a vaccination, and that’s 18months away – things are going to get a lot, lot, lot worse public health wise and economically before they can get better.