For once, no, it isn't 'the economy, stupid.'
Wuhan Virus did not birth the Bear Market. And that Bear Market will be short-lived.
Shocking to you? Well, it's true.
Our economy is tanking because of money-managers who have been trained to take knee jerk reactions to financial downturns. What they obviously do not understand is there is nowhere safe place to move their money. The entire economy is temporarily in chaos because of panic, shortages and guidelines that tell us to stay away from one another.
Individuals who have jumped out of key stocks such as hotels, airlines and the service industry will soon discover they have destroyed their own financial future. They have lost that money forever. Don’t be like them.
Many people have simply let their money ride this out. That is the wise choice to make. If others had been rational and just left their money where it was, we wouldn't have lost 11,000 points off the Down Index this month.
I’m the first to admit, yes, the Wuhan virus needs our desperate attention. Joining in the panic, however, is not “desperate attention,” it is irrational anxiety. President Trump, Vice-President Pence, the virus task force and the CDC are taking exceptional measures to flatten the curve of the spread of Wuhan Virus and they are working. Leave your money alone.
Chinese President Xi Jinping visits a Beijing clinic treating the Wuhan Virus. His citizens are increasingly losing confidence in the government as a result of the lies told to them about the disease. (Photo: Xinhua via Reuters)
If China had taken steps early on instead of engaging in subterfuge with its citizens and the world, Wuhan Virus would have been contained much more quickly. But China let the virus run rampant. There was no information shared with the world about what the healthcare professionals in China knew about.
Because, under communism and the ancient Asian frailty of losing face, failure is not an option. When Wuhan Virus became a local epidemic, President Xi Jinping's government chose to hide the outbreak in December. They lied about it. They took no significant action to limit its spread. Reports out of China indicate an increasing number of Chinese citizens have lost confidence in their government as a result.
China continued to let people travel freely within China and internationally. They silenced the first doctor who tried to raise a worldwide alarm about the Wuhan Virus — and he later died from it.
We cannot allow any nation ever again to hide or lie about a potential pandemic. about a potential pandemic.
Yes, even with China taking those actions, Wuhan Virus would still have spread. You're right. But around the world, new cases could have been isolated and the virus could have run its course under medical care. Infections would have occurred at a far lower rate than what we have seen.
The virus wouldn't have tanked the economy, it wouldn't have put irrational fear in the hearts and minds of the world and it wouldn't have develop into the disaster it became.
But it did.
Extraordinary measures instituted by President Trump and Vice-President Pence's Wuhan Virus Task For had resulted in cracks in the armor of the pandemic in the U.S. (Photo: Times of Israel)
As a result, our government and our healthcare experts had to initiate admittedly uncomfortable precautions and limitations. Had President Donald J. Trump and his administration not acted extraordinarily, millions would be infected by now, and hundreds of thousands would have died in the U.S. alone.
Because President Trump's actions, we are beginning to see the flattening of the curve CDC and other agencies worldwide have been seeking. Almost unbelievably, as a result, governors of both parties are praising President Trump for his actions and across the country we are turning the tide of this virus.
The stock market will soar the minute it is announced the virus is no longer the threat it is right now. We'll earn every point back and then some.
Best of all, Congress will have passed legislation that directs that our critical products like pharmaceuticals and military equipment must be manufactured in the U.S. and its territories.
It's a damn shame it took a pandemic to get people in D.C. to think rationally, but so be it.
We will get through this. Normal will return. Until then we must take the Wuhan Virus seriously, do as our leaders ask of us and be thankful for their guidance.