Not trying to be a smart ass, but in 2009 we had 10% unemployment ( losing 700,000 jobs per month), the market had dropped 60%, foreclosures were skyrocketing, banks were failing, auto and airlines needed help and we were in three wars. We didn't panic because we had already been through 12 months of garbage before the H1N1 showed.
So we decided to panic and make all of that happen overnight on purpose?
90%+ of the markets are owned by 10% of the population. The market is bought and sold on future earnings. At this point, under these circumstances the big players are reallocating assets based on the uncertainty of those future earnings. This would have been a 10-12% correction had it not been for the virus and a oil war.
I would prefer to see rational actions not overreacting. Unfortunately the media has the TDS sheep all worked up into a frenzy, making it politically necessary to take ridiculous steps.
129,313 known cases worldwide with 4749 deaths. And in 125 countries now. Growing exponentially. They can shut down the country but will still have to move food. Millions of truck drivers visit every corner of the country every day. The only thing we can do beyond hygienic is wait it out and hope for the best.
Unfortunately the population has decided to get their news from polarized sources, left and right. We seem to be unable to think for ourselves.
Stats are stats. Where was this thing 2 months ago?
While I tend to agree with this the media needs to be held to a higher standard. Today it's very difficult to know what/where/ who is buying,selling news.
They aren't anymore. I can easily make a stat say two different things with changing the content around it. The media does it all the time.
