Scary virus outbreak in China
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Johns Hopkins Map:
https://gisanddata.maps.arcgis.com/apps/opsdashboard/index.html#/bda7594740fd40299423467b48e9ecf6
New confirmed cases dropped from yesterdayGeorge / NJ
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Interesting map. Thanks.
Any stock rebound is to be expected, and is temporary.Lumin X1 file player, Westminster Labs interconnect cable
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Three 20 amp circuits. -
That'll never happen.Political Correctness'.........defined
"A doctrine fostered by a delusional, illogical minority and rabidly promoted by an unscrupulous mainstream media, which holds forth the proposition that it is entirely possible to pick up a t-u-r-d by the clean end."
President of Club Polk -
This is exactly why the market is spooked.... I run Karaoke and DJ in a few small bars. For the past few weeks, the bars that are usually packed during the winter ( 100+) have only had 10-15 customers all night on a Friday. Summertime they usually slow down a bit and loose some to places that have an outdoor patio but, not as bad as I have seen in the past few weeks.
Initially, the worry was about supply chain disruption (manufacturing shutting down in China), but now there is the potential for a full blown global recession. Those concerns will fade now that tens of thousands of Chinese workers have recovered and will return to work.
But now, discretionary spending on the part of 401(k) millionaires could screech to a halt as they see their accounts dwindle, impacting things like dining out, Starbucks, or that new truck, etc. etc.
Several companies have warned that they will not meet expected targets in Q1, even companies which raised their target guidance just weeks ago (hence the recent record highs). It seems unlikely that we’ll have any visibility for earnings until Q1 reporting starts in earnest, mid-April.Alea jacta est! -
Bud, to quote one of my favorite movies, moonstruck....
Everything is temporary !!
🙂
So what changed today that enabled the market to come roaring back ? The virus news is just as bad today as it was last week.HT SYSTEM-
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lsi 9's -
Another reason the market is spooked is because of the high degree of uncertainty of the reality in the U.S.
- As of Friday, the U.S. had tested fewer than 500 people - for a population of 330 million.
- South Korea, OTOH, had tested 65,000 people - for a population of 52 million.
- China can test 1.6 million people per week.
- The W.H.O. provided testing kits to 57 nations. The U.S. decided to make its own testing kits. Fewer than 5,000 had been made by the end of last week. The FDA discovered that many of those kits were contaminated (unusable) just last Thursday.
- Manufacture in the U.S. has now been outsourced from the CDC. 75,000 kits are expected to be available by the end of this week.
In the meantime, France, Germany and the United Kingdom are providing thousands of testing kits and equipment to Iran so that testing can be accelerated in that country.
The JHU CSSE tracker (map) is a bit behind. The number of cases in Italy has exceeded 2,000 today, as expected.Alea jacta est! -
looks like the top level of Iran's government has been exposed to the virus. I call that a silver lining.The Gear... Carver "Statement" Mono-blocks, Mcintosh C2300 Arcam AVR20, Oppo UDP-203 4K Blu-ray player, Sony XBR70x850B 4k, Polk Audio Legend L800 with height modules, L400 Center Channel Polk audio AB800 "in-wall" surrounds. Marantz MM7025 stereo amp. Simaudio Moon 680d DSD
“When once a Republic is corrupted, there is no possibility of remedying any of the growing evils but by removing the corruption and restoring its lost principles; every other correction is either useless or a new evil.”— Thomas Jefferson -
I would submit to you that the VAST majority of Americans that contract this virus will never know it. They will feel sick for a few days, then recover and go on with their life.
This has been the course of viral infections since the dawn of time. What has changed is the 24hr news cycle, that always needs a “crisis” to drive their ratings, and in turn advertising revenue."Conservative Libertarians love the country, progressive leftists love the government." - Andrew Wilkow
“Human beings are born with different capacities. If they are free, they are not equal. And if they are equal, they are not free.”
― Aleksandr Solzhenitsyn -
nooshinjohn wrote: »looks like the top level of Iran's government has been exposed to the virus. I call that a silver lining.
I read that too. See the virus ain't that bad. -
It amazes me how poor people know everything about the stock market.
I pulled all my investments/401k out of stock last year.
The investment guy was confused. I bet he now has a hint
of why a long term bull market can't be maintained.
It was going to happen. If not this, something else."The legitimate powers of government extend to such acts only as are injurious to others. But it does me no injury for my neighbour to say there are twenty gods, or no god. It neither picks my pocket nor breaks my leg." --Thomas Jefferson -
I would submit to you that the VAST majority of Americans that contract this virus will never know it. They will feel sick for a few days, then recover and go on with their life.
This has been the course of viral infections since the dawn of time. What has changed is the 24hr news cycle, that always needs a “crisis” to drive their ratings, and in turn advertising revenue.
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That’s certainly a valid point (IMHO) @daddyjt, but the markets don’t care. All they care about is earnings growth and results vs. expectations.Alea jacta est!
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Tom~ In search of accurate reproduction of music. Real sound is my reference and while perfection may not be attainable? If I chase it, I might just catch excellence. ~ -
sucks2beme wrote: »It amazes me how poor people know everything about the stock market.
I pulled all my investments/401k out of stock last year.
The investment guy was confused. I bet he now has a hint
of why a long term bull market can't be maintained.
It was going to happen. If not this, something else.
Goes without saying, what goes up must come down eventually. The dips are short lived though. The markets as a whole over long periods of time continue to go up and up.
You know how California is waiting for "the big one" to happen....same for the markets. To me, a crash aka...the big one...is gonna happen sooner rather than later. Why do I say that ? Because in spite of our booming economy, we are still broke with mountains of debt, while everyone else also has mountains of debt, negative interests rates, and no booming economies. There has to be a reset somewhere, that wipes out all debt. Only a crash can do that, and usually it's the middle class, middle investors, that are told to bend over.
I know that's not very optimistic, but we are long overdue for a worldwide plunge.HT SYSTEM-
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Sony 4k BRP
SVS SB-2000
Polk Sig. 20's
Polk FX500 surrounds
Cables-
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Acoustic zen Matrix 2 IC's
Wireworld eclipse 7 ic's
Audio metallurgy ga-o digital cable
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Grant Fidelity tube dac
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lsi 9's -
sucks2beme wrote: »It amazes me how poor people know everything about the stock market.
I pulled all my investments/401k out of stock last year.
The investment guy was confused. I bet he now has a hint
of why a long term bull market can't be maintained.
It was going to happen. If not this, something else.
Goes without saying, what goes up must come down eventually. The dips are short lived though. The markets as a whole over long periods of time continue to go up and up.
You know how California is waiting for "the big one" to happen....same for the markets. To me, a crash aka...the big one...is gonna happen sooner rather than later. Why do I say that ? Because in spite of our booming economy, we are still broke with mountains of debt, while everyone else also has mountains of debt, negative interests rates, and no booming economies. There has to be a reset somewhere, that wipes out all debt. Only a crash can do that, and usually it's the middle class, middle investors, that are told to bend over.
I know that's not very optimistic, but we are long overdue for a worldwide plunge.
I thought we had that 12 years ago. Or are you suggesting worst? -
Twelve years ago was a warning shot that went unheeded.The Gear... Carver "Statement" Mono-blocks, Mcintosh C2300 Arcam AVR20, Oppo UDP-203 4K Blu-ray player, Sony XBR70x850B 4k, Polk Audio Legend L800 with height modules, L400 Center Channel Polk audio AB800 "in-wall" surrounds. Marantz MM7025 stereo amp. Simaudio Moon 680d DSD
“When once a Republic is corrupted, there is no possibility of remedying any of the growing evils but by removing the corruption and restoring its lost principles; every other correction is either useless or a new evil.”— Thomas Jefferson -
I'm suggesting worse, something catastrophic that will force a rewire of the financial institutions around the globe. Debts will have to be wiped out in order for growth to happen again. Like a game of musical chairs, who will be left standing with no chair ?
I can tell you this, it won't be the elites, and certainly won't be the poor, they never had a chair to begin with. That leaves the middle class again to take the brunt of the losses.
HT SYSTEM-
Sony 850c 4k
Pioneer elite vhx 21
Sony 4k BRP
SVS SB-2000
Polk Sig. 20's
Polk FX500 surrounds
Cables-
Acoustic zen Satori speaker cables
Acoustic zen Matrix 2 IC's
Wireworld eclipse 7 ic's
Audio metallurgy ga-o digital cable
Kitchen
Sonos zp90
Grant Fidelity tube dac
B&k 1420
lsi 9's -
- The number of deaths in the U.S. is now 5, in King County, WA + one more in Snohomish County, WA. WA has declared a state of emergency.
- The number of cases identified in the U.S. is now 100 (keep in mind that we haven’t tested very many people - see previous comment above).
- The U.S. hopes to be able to test 10,000 per day by the end of the week. China is already able to test 1.6 million per week.
Post edited by Kex onAlea jacta est! -
6 deaths now, all in Washington.The Gear... Carver "Statement" Mono-blocks, Mcintosh C2300 Arcam AVR20, Oppo UDP-203 4K Blu-ray player, Sony XBR70x850B 4k, Polk Audio Legend L800 with height modules, L400 Center Channel Polk audio AB800 "in-wall" surrounds. Marantz MM7025 stereo amp. Simaudio Moon 680d DSD
“When once a Republic is corrupted, there is no possibility of remedying any of the growing evils but by removing the corruption and restoring its lost principles; every other correction is either useless or a new evil.”— Thomas Jefferson -
Some of those latest comments really are doom & gloom!
The 2008-9 crisis was severe, in some measure, because of fixed assets that banks did not know how to offload (foreclosed homes). That in turn created a huge drop in house prices, which led to a massive reversal in home building. Booming markets like Las Vegas reversed course etc. etc., so the downturn lingered in people’s minds far beyond any actual technical recession as measured by GDP growth.
I do not expect this to be even half as bad. It could get worse than last week, certainly, but not that bad IMHO. There’s a good chance we’ll enter bear market territory before long. Many stocks are already experiencing a bear market.
Without those same underlying issues, however, this correction and/or bear market could be short lived.
If the Chinese workforce continues to recover by the tens of thousands, the supply chain will return to normal before long. Earnings guidance will recover quickly, either during Q1 earnings calls, or during Q2 earnings calls. By then, the earnings losses will have been priced in. If guidance is reassuring, the markets will also recover.
There are always unknowns. Europe has been suffering from diminished GDP growth since the Brexit referendum because of uncertainty. GDP growth there has been further restrained because of tariffs (this is open to discussion, but that is the general consensus). If Europe enters recession (Italy almost certainly will), then that will increase the chances that the U.S. will also enter recession.
If there is a global recession for more than one quarter, then all bets are off. IMHO.Alea jacta est! -
I figure most of the people dying are Chinese and I'm over here and I'm making BIG money from all the brouha and isn't that's what most important how much money I can make ? Yeah money that's THE most important thing. :ME. and MY MONEY.
I see there are a number of fellow traellers with the same mindset in this thread because WE know what's most important in life: money.Sal Palooza -
I'm suggesting worse, something catastrophic that will force a rewire of the financial institutions around the globe. Debts will have to be wiped out in order for growth to happen again. Like a game of musical chairs, who will be left standing with no chair ?
I can tell you this, it won't be the elites, and certainly won't be the poor, they never had a chair to begin with. That leaves the middle class again to take the brunt of the losses.
I actually agree with this. Will wonders never cease?
Lumin X1 file player, Westminster Labs interconnect cable
Sony XA-5400ES SACD; Pass XP-22 pre; X600.5 amps
Magico S5 MKII Mcast Rose speakers; SPOD spikes
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Shunyata Sigma XLR analog ICs, Sigma speaker cables
Shunyata Sigma HC (2), Sigma Analog, Sigma Digital, Z Anaconda (3) power cables
Mapleshade Samson V.3 four shelf solid maple rack, Micropoint brass footers
Three 20 amp circuits. -
mrbigbluelight wrote: »I figure most of the people dying are Chinese and I'm over here and I'm making BIG money from all the brouha and isn't that's what most important how much money I can make ? Yeah money that's THE most important thing. :ME. and MY MONEY.
I see there are a number of fellow traellers with the same mindset in this thread because WE know what's most important in life: money.
Well,... yea.
Certainly not the most important, but pretty close. I like to be able to feed my family. And clothe them. And provide them a safe place to sleep. I like to have reliable transportation. And medical care. And audio gear.
That all takes money. The demonization of wealth perplexes me, especially on an audio forum where so many spend so much on a hobby."Conservative Libertarians love the country, progressive leftists love the government." - Andrew Wilkow
“Human beings are born with different capacities. If they are free, they are not equal. And if they are equal, they are not free.”
― Aleksandr Solzhenitsyn -
Oh I'm not demonizing money.
In fact I've discarded all moral values becuse I'v seen how I can increase my moneys by doing so.Sal Palooza -
Anti-Corona virus spray,
Spray throat three times a day.
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ken brydson wrote: »
Anti-Corona virus spray,
Spray throat three times a day.
Now you're speakin my language. -
So much for the gloom and doomers. Stocks are roaring back!
For one day. That’s a little prematureMagico M2, JL113v2x2, EMM, ARC Ref 10 Line, ARC Ref 10 Phono, VPIx2, Lyra Etna, Airtight Opus1, Boulder, AQ Wel&Wild, SRA Scuttle Rack, BlueSound+LPS, Thorens 124DD+124SPU, Sennheiser, Metaxas R2R -
nooshinjohn wrote: »6 deaths now, all in Washington.
How many sick in Washington?Magico M2, JL113v2x2, EMM, ARC Ref 10 Line, ARC Ref 10 Phono, VPIx2, Lyra Etna, Airtight Opus1, Boulder, AQ Wel&Wild, SRA Scuttle Rack, BlueSound+LPS, Thorens 124DD+124SPU, Sennheiser, Metaxas R2R -
nooshinjohn wrote: »6 deaths now, all in Washington.
How many sick in Washington?
Back in the early 90s, everyone between the ages of 16 and 32 in Washington was sick. -
Statistics from JHU CSSE are not updated all that frequently (but more than once a day). Currently, they show 14 cases in King County, Washington; and 4 in Snohomish County, Washington.How many sick in Washington?
That number includes the 6 deaths, and 1 recovery (7 total).
However, very few people have actually been tested. For example: only 32 people tested in the entire state of New York. The supply of test kits will not be normal until the end of the week.Alea jacta est!
This discussion has been closed.