I’m seriously starting to wonder what impact the coronavirus could have on growth. It’s continuing to spread as India and Philippines just confirmed their first cases. It could have some serious effects on supply chains depending how bad it gets.
So how will Trump spin this in his tweets today? I think he’ll just say something like “GREAT GROWTH!!! BEST ECONOMY EVER!!!” and his supporters will believe it.
The Stock Markets showed a one day panic about this at the beginning of the week, but have recovered since. I am guessing the conclusion is that we are not yet sure this will be worse than SARS.
It looks like Powell might have shaken bond investors a little by saying they were assessing how it might affect growth. Definitely too early to tell anything. It’s reassuring that the virus has been isolated and grown in a lab and vaccines are already being worked on.
I don’t think there were any actual impacts with SARS, but we’ve already surpassed that outbreak. It had about 8,000 cases but a higher fatality rate of like 9-11%. I think this outbreak has FR of maybe 2-3% so far?
It has been confirmed that this coronavirus can spread before patients are symptomatic. I hope we get a handle on it quickly.
Right? We had that growth under Obama without TRILLIONS in debt added every single year!
Edit: yes I know he had three years where deficits were trillion+ but I take into account the economy and unemployment. We have trillions being added when we should be paying off the debt.
Just did a little reading…SARS effected China’s GDP but I suppose that had an effect on exports to other countries.
As of the article I read with yesterday’s epidemic numbers FR was 2.64 percent. If it stays that low…I don’t think it will get that as bad as SARS or MERS FRs did. But that largely depends on how the Chinese Government handles keeping people in place…and not allowing people to fan out across the world.