n-cov notes:
Will coronavirus spread in the US? It's not 'if' but 'when,' CDC says.
Coronavirus Has Reached 'Community Spread' Within United States: Dr. Anthony Fauci
Coronavirus threatens the global economy with a 'sudden stop'.
Coronavirus: Bracing for the Economic Shockwave. Why Optimism is Unwarranted
The information-aware and many in the medical industry are nervously watching the news about coronavirus spread and mortality rates. What we know so far isn’t pretty.
Coronavirus: Nasa images show China pollution clear amid slowdown
Covid-19 Outbreak Meets Another Catastrophe Bond Trigger Condition.
Regular Fare:
US Personal Incomes Grow At Fastest Pace Since 2018, Spending Growth Slows
New Home Sales
Soar To Highest Since July 2007 As Prices Hit Record High.
Treasury Yields
Plunge To Record Lows As US PMI Collapses Into Contraction
Goldman
Now Expects Zero Earnings Growth In 2020.
Japan's
factory activity shrinks at fastest pace since 2016 on coronavirus hit: PMI
OECD
Sounds The Alarm, Warns Global Growth Could Shrink "By Half" Thanks
To Coronavirus
The
Global Economy Was Sinking Long Before The Coronavirus Appeared
In
the meantime, global and US exports, manufacturing and freight shipments have
ALL be telling us for months that a recession/depression is on the way.
- · The export crash was not
only limited to the US and China, multiple top economies including Japan and
Germany have been witnessing extensive declines in manufacturing and export
demand.
- · Japan's GDP contracted 6.3%
in the final quarter of 2019 and their exports shrank for 12 months in a row.
- · Germany's economic growth
slowed to a six year low as their official GDP hovers near recession territory.
German exports continue to slump as global demand crumbles.
- · In the US, freight shipments
and volume have collapsed by 9.4%; the most since 2009. US manufacturing remains weak and 4th quarter
retail sales have been revised down, showing consumer activity slowing. And,
all of this data is for the months BEFORE the coronavirus appeared.
But
don't be surprised when the media and the globalists use the virus event as the
end all excuse for why the economic system is breaking down. Certainly, the
disruption of the supply chain will be the final nail in the coffin of the
Everything Bubble, and people dying in large numbers from a SARS-like virus can
really put a damper on economic activity.
But the central banks killed the economy years ago by feeding the
largest debt bonanza in history, addicting companies and markets to easy cash and
then cutting that liquidity just enough to cause the system to go into
convulsions. Currently, corporate debt, consumer debt and national debt are all
at historic highs. There is no stimulus measure that can fix this problem
Hussman: Clearing
Rallies and Crashes (Buckle Up)
Bank Of America:
"Nowhere To Hide"
in a note titled "Nowhere to Hide", the bank's chief economist
Ethan Harris, writes that "we have taken another slice out of our 2020
global GDP forecast. The downward revisions are broad based, and we now expect
just 2.8% global growth this year (Table 1). This would be the first sub-3% print
since the financial crisis."
(not just) for
the ESG crowd:
The Planet Is
Screwed, Says Bank That Screwed the Planet.
A report from two economists at JP Morgan Chase pushes back against
traditional economic wisdom on climate change.
JP Morgan
economists warn climate crisis is threat to human race.
Fossil-Fuel
Subsidies Must End.
Nations seek biodiversity
accord to stave off mass extinction.
Nature experts and government delegates gather this week in Rome to
thrash out an international deal for endangered species, trying to avoid a mass
extinction event caused by human activity.
Other fare:
Running out of
time: East Africa faces new locust threat
New Study Shows
Average U.S. Worker Needs 53 Weeks In A Year Just To Earn "Middle
Class" Lifestyle.
Why America Is
Losing The Toilet Race
Quotes of the Week:
"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."
“This crisis is much more severe for China and the rest of the world than
investors have expected for four reasons: First, it is not an epidemic limited
to China, but a global pandemic. Second, it is far from being over. This has
massive consequences, but politicians don’t realize it…. 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. … Everyone thinks that policymakers
will react swiftly but that’s also wrong. The markets are completely
delusional. Look at fiscal policy: You can do fiscal stuff only in some
countries like Germany, because others like Italy don’t have any leeway. But even
if you do something, the political process requires a great deal of talking and
negotiating. It takes six to nine months, which is way too long. The truth is:
Europe would have needed fiscal stimulus even without the corona crisis. Italy
was already on the verge of a recession, as was Germany. But German politicians
aren’t even thinking about stimulus, despite the country being so exposed to
China. The political response is a joke - politicians are often behind the
curve. This crisis will spill over and result in a disaster.”
from: "This
Crisis Will Spill Over Into Disaster" - Dr.Doom Sees 40% Collapse In
"Delusional" Stock Market
“This is not a buy-the-dip market. It is a don’t-catch-a-falling-knife
market."
