Coronavirus scare causing markets to fall

[Beastie]

Originally Posted by FoxtrotGolfXray 5.0

Telstra have now ordered all of their office staff to work from home as of Monday. That equates to 20,000 employees.

Apparently Australia's biggest ever virtual office experiment.

https://www.afr.com/politics/federal...0200313-p549yi

I hope that they all have reception...

Sorry - I had to say it

[pwr4ce]

Originally Posted by Bongo Boy

I hope that they all have reception...



Sorry - I had to say it

I think we will see more “work from” post the virus issue.

[Beastie]

Originally Posted by pwr4ce

I think we will see more “work from” post the virus issue.

I agree...

Imagine people working from home and productivity stays the same (if not better)...

Then the savings on transport, parking, lunches, child care etc, not to mention the rent on the 'office'

Interesting times ahead...

[FoxtrotGolfXray 5.0]

Word on the street is that our work (power station in Latrobe Valley) is about to go into a work lock-in. Essential positions will be forced to stay on site, including sleeping, whilst non-essential positions will be banned form site, working form home where possible.

I have an RDO on Monday, so half expecting I won't be driving to work as of next week.

[Franco Cozzo]

Some of my competition is running out of stock in a huge way and can't get resupply which is pushing customers into my loving embrace

[roddy1960]

Originally Posted by GO FURTHER

Doctor Li Wenliang, the ophthalmologist, who raised the alarm in December about the coronavirus, long before the Chinese disclosed its full threat, was silenced and reprimanded by the police, for his views, and made to sign a letter that said he “was making false comments.”

When he later died of Coronavirus, he said very wisely on his death bed...

"A nation cannot have just one voice"

China now into blaming others for all this is probably akin to the little kid who messes the bed , tries to hide it from Mum , gets found out and tries to blame the dog who sleeps on the bed .. Why am I not surprised ?

They're not good liars ....Deal with and admit your mess China like an adult , not a crapped kid and help clean up the mess in a big way .

[Tickford.]

Originally Posted by roddy1960

China now into blaming others for all this is probably akin to the little kid who messes the bed , tries to hide it from Mum , gets found out and tries to blame the dog who sleeps on the bed .. Why am I not surprised ?

They're not good liars ....Deal with and admit your mess China like an adult , not a crapped kid and help clean up the mess in a big way .

What has the Chinese government said? Can you provide a link?

[Peuty]

Jeez there is some serious scare mongering in this thread, especially regarding superannuation and investments.

If you don't need your money (i.e., aren't nearing retirement, or in retirement), the absolute worst thing you can do right now is switch to a lower risk investment option. Any losses you saw on paper will be crystallised by doing so - a self-fulfilling prophecy.

This is a market correction in a long line of previous market corrections and one that was probably due to happen anyway. Ride it out if you are able, the market will bounce back - it always does.

Perfect opportunity to buy some cheap blue chip shares or units in a high growth managed fund.

[T3rminator]

Originally Posted by Yellow_Festiva

The synic in me is hoping that wasn't part of a grand plan...

When this is all over who will be the biggest winners and losers?

China always wanted world dominance, is this the genesis of something greater??

Sent from my LG-M700 using Tapatalk

This is funny. Western views = China created this for world dominance. Eastern views = CIA unleashed this to cripple chinas economy.

Here's an interesting fact. They still haven't identified the source animal. All tests in the market came back negative. Yes China was first to diagnose, but does that automatically mean it originated from there? Have a look at the CDC stats on "flu" in the US.
n

[GO FURTHER]

Coronavirus will bankrupt more people than it kills — and that's the real global emergency.

[roddy1960]

Originally Posted by GO FURTHER

Coronavirus will bankrupt more people than it kills — and that's the real global emergency.

Absolutely....already happening ..crippling economies everywhere.

[Syndrome]

This is totally pharking us big time. My super is getting smashed.

[Fed]

Originally Posted by Syndrome

This is totally pharking us big time. My super is getting smashed.

Didn't your super fund contact you 2 Months ago & advise you to immediately switch to cash? Yeah that would be right. Of course they're still charging you to lose your money for you.

[Romulus]

Originally Posted by Peuty

Jeez there is some serious scare mongering in this thread, especially regarding superannuation and investments.

If you don't need your money (i.e., aren't nearing retirement, or in retirement), the absolute worst thing you can do right now is switch to a lower risk investment option. Any losses you saw on paper will be crystallised by doing so - a self-fulfilling prophecy.

This is a market correction in a long line of previous market corrections and one that was probably due to happen anyway. Ride it out if you are able, the market will bounce back - it always does.

Perfect opportunity to buy some cheap blue chip shares or units in a high growth managed fund.

Exactly! Interesting to note the DJI jumped 9.36% near end of trade today while POTUS was giving his speech. The market has oversold this scare due to the media hype created. It's going to be a great buying opportunity.

[roddy1960]

Originally Posted by Tickford.

What has the Chinese government said? Can you provide a link?

Here's a little bit from an Australian based Chia Embassy official I saw on Q&A ....https://www.sbs.com.au/news/chinese-...over-up-on-q-a.... and a recent press conference.

Believe him or not believe him ....You decide ...Since then more claims and counter claims and coronavirus comments. https://www.youtube.com/watch?v=2xErOTG7sjI...

In total fairness I will say that with 1.4 billion people an epidemic would be very hard to manage , not least because this is a virus that is an animal borne one . No direct correlation but the African Swine epidemic that originated from Europe transported pigs to Africa in the early 1900's was detected again in China in 2018 and has since spread all over the place in Asia.. China has to manage better stuff like this .

Coronavirus is a Zoonosis which means it is transmitted from animals to humans . SARS was too . All I really want to know is why now are they now making suggestions aka USA and such that the virus "might not" have originated in China . Why not absolutely say that from the outset if that's what they really think . Not now.

Very confusing to me . China has to learn from all this and make huge changes on how they handle their massive population in my opinion or this virus won't be the last . The next time it could be a super deadly one .

[Peuty]

Originally Posted by Fed

Didn't your super fund contact you 2 Months ago & advise you to immediately switch to cash? Yeah that would be right. Of course they're still charging you to lose your money for you.

You have got to be joking, right?

[CoupeKing]

Dow jumped two thousand points overnight. Lets see how it is on Monday - early Tuesday morning for us.

[T3rminator]

Originally Posted by Syndrome

This is totally pharking us big time. My super is getting smashed.

Depends. This fall is great if you are not retiring in the next couple of years and believe the market will rebound. History shows it will. You will be picking up a lot more units on your super per $ right now.

[Romulus]

Originally Posted by T3rminator

Depends. This fall is great if you are not retiring in the next couple of years and believe the market will rebound. History shows it will. You will be picking up a lot more units on your super per $ right now.

No losses are incurred if you do not sell, it's simply value changes. As mentioned, DJI jumped nearly 10% near market closing on Friday after the US declared a state of emergency, freeing up $50 billion to spend on the current issue at hand. Europe might be in pandemonium for the next few months but early indicators are China is opening up and getting back to business. That's what matters.

IMO the share market has massively oversold based on media fear and panic, there will be plenty of buying opportunities for folk who run their SMSF and traders.

5% fluctuations in the market seem to be the norm at the moment albeit it unprecedented. Things will stay volatile for the next couple of months.

[b0son]

Originally Posted by Fed

Didn't your super fund contact you 2 Months ago & advise you to immediately switch to cash? Yeah that would be right. Of course they're still charging you to lose your money for you.

Didn't you log in to your super fund account and change the investment category when the market started heading south? My wife and I both did.

It never ceases to amaze me how apathetic people are about their super....

[b0son]

Originally Posted by Romulus

Things will stay volatile for the next couple of months.

That's a massive understatement.

Italy is not unique. It's highly likely it will happen here and almost certain in the US - the number of critical cases exceeds ICU beds and the fatality rate shoots up.

We have 2000 ICU beds nation wide. If 5% of cases require critical care, that's only 40,000 active cases. Our doubling time is around 4 days at the moment, so we'll exceed 40k in around a month unless significant steps are taken.

You ain't seen nothin yet....

[Peuty]

Apathetic is too kind of a word in my opinion.

[Romulus]

Originally Posted by b0son

That's a massive understatement.

Italy is not unique. It's highly likely it will happen here and almost certain in the US - the number of critical cases exceeds ICU beds and the fatality rate shoots up.

We have 2000 ICU beds nation wide. If 5% of cases require critical care, that's only 40,000 active cases. Our doubling time is around 4 days at the moment, so we'll exceed 40k in around a month unless significant steps are taken.

You ain't seen nothin yet....

That's a massive overstatement and exactly toes the line of the fake news peddling their fear porn narrative. It'll be over and done in 2 months time except for the hypochondriacs, but they dont count.

[vztrt]

Originally Posted by b0son

Didn't you log in to your super fund account and change the investment category when the market started heading south? My wife and I both did.

It never ceases to amaze me how apathetic people are about their super....

You can do it via an app. Not that hard. But it's always someone else fault.

[b0son]

Originally Posted by Romulus

That's a massive overstatement and exactly toes the line of the fake news peddling their fear porn narrative. It'll be over and done in 2 months time except for the hypochondriacs, but they dont count.

With no controls, yes, 2months is about the time needed for it to infect half the nation's population.

You're far more optimistic than I about the economic impact of 400-700k deaths ….. that isn't based on fake news, its based on maths derived from the stats we have so far.

[DaveD]

As of midnight Sunday every person arriving in NZ, will have to isolate themselves for 14 days....
https://www.nzherald.co.nz/nz/news/a...ectid=12316692

[Romulus]

Originally Posted by b0son

With no controls, yes, 2months is about the time needed for it to infect half the nation's population.

You're far more optimistic than I about the economic impact of 400-700k deaths ….. that isn't based on fake news, its based on maths derived from the stats we have so far.

Given around 57 million people die each year (2015 stats), the 400-700k is only 0.7-1.2% extra mortality rate. That is, of course, if one believes the hype and over exaggeration reported by MSM of the mortality rate. Recovery rates dont seem to matter.

[b0son]

Originally Posted by Romulus

Given around 57 million people die each year (2015 stats), the 400-700k is only 0.7-1.2% extra mortality rate.

400-700k is just the deaths in Australia. That's around 350% more (160k per year in 2018).

People are hoping for sub-1% fatality rate based on South Korea, but they have far higher healthcare capacity than us, around triple the beds to patient ratio.

Italy's mortality is 7% and climbing as they run out of beds.

But yeah, lets go with MSM beatup…

[Yellow_Festiva]

Originally Posted by Tickford.

What has the Chinese government said? Can you provide a link?

Coronavirus: Chinese official claims virus could have started in US as fear over COVID-19 sweeps world

China’s foreign ministry spokesman has claimed the coronavirus may have started with a US soldier in what has been widely criticised as an attempt to save face.

China’s Foreign Ministry spokesman Lijian Zhao has suggested the deadly coronavirus could have originated in the US and slammed the country for blaming China for the disease spread.

The COVID-19 outbreak has been labelled a pandemic by the World Health Organisation (WHO) after it began in Wuhan in late December 2019 before spreading to every continent on Earth.

The virus has seen entire countries placed in lockdown, pushed financial markets to their worst day since 1987 and led governments to pledge hundreds of billions of dollars in assistance for businesses and those affected.

So far at least 137,445 have been infected with 5,088 deaths and some estimates claiming up to 80 per cent of the world’s population could contract the virus.

VIRUS EMPTIES STREETS AROUND THE WORLD

Daily life took on a surreal quality in many countries on Friday, with large-scale lockdowns in place to prevent the spread of the disease.

Spain was the latest to join Italy in locking down nearly 60,000 people overnight. Ireland has also ordered school closures and bans on mass gatherings.

The European Union (EU) which holds its open borders as a defining symbol of unity was forced to ask member states to put screening in place.

The virus is now present in all 27 EU countries and more than 22,000 cases have been confirmed across the continent with 1000 people dying.

The WHO declared the continent the new “epicentre” of the pandemic on Friday, saying it had more reported cases and deaths than the rest of the world combined, apart from China.

On Friday alone, Italy reported another 250 deaths, raising it’s total to 1266.

The disease has also led to widespread cancellations of music festivals and sporting fixtures, including Coachella and the English Premier League.

The Greek Olympic committee suspended the rest of its torch relay on Friday because of the “unexpectedly large crowd” that gathered to watch despite repeated requests for the public to stay away to prevent the spread of the coronavirus.

In Iran, security forces will empty the streets in one of the hardest hit areas. Iran has a death toll of 514 with at least 11,364 diagnosed infections.

In the UK, those with mild symptoms are being urged to refrain from phoning health services to ease pressure on the NHS. Anyone with a cough and fever is being told to stay home for seven days. Britain’s Prince Charles was forced to cancel a trip to Bosnia, Cyprus and Jordan because of the outbreak, Clarence House said on Friday.

France too has announced strict measures, saying it would limit gatherings to no more than 100 people a day after closing schools until further notice.

In the US, the Trump administration announced it would dish out $1.3 million in federal money to two companies trying to develop rapid COVID-19 tests that could detect whether a person tests positive for the new coronavirus within an hour.

Questions were raised about whether officials should undergo further testing after Ivanka Trump was pictured standing next to Australian Home Affairs Minister Peter Dutton, who tested positive for the disease.

Kenya and Ethiopia announced their first confirmed cases of coronavirus on Friday as East Africa, which has so far been unscathed by the global pandemic, scaled up emergency measures to contain its spread.

https://www.news.com.au/lifestyle/he...85d37161226714

[Peuty]

I stole this from an ASX investor page I am a member of. I agree with all points.

New infections in Wuhan China have now dropped to a trickle...

The supply side of the economy is healing after only a couple of short months of hysteria.

The demand side is now in full hysteria... as cities go into lock down.

But if stores are re-opening in the city where the virus first started...

Would it not be the case in cities where it’s now spread?

“Every storm runs out of rain...”

The market is acting like cities will be closed indefinitely... like business will never happen again... like it’s the end of the world.

In a few months, when the virus passes.... and earnings move back to what they were prior... will stock prices stay the same?

I hope they do so we can all buy them for 3 times earnings!

But I dare say... they won’t be low for as long as we all think.

I think back to the GFC where entire countries were going bankrupt, where 100 year old banks were going broke... and I don’t think even back then we saw this type of panic selling.

This is not a financial crisis where collateralized NINJA loans were being sold...

It’s a temporary virus. That’s caused a statistically insignificant amount of deaths.

As the fear abates...

And as Tom Hanks recovers... so too will the earnings of businesses.

If markets recovered from a global financial fraud...

Then they will certainly recover from a seasonal flu.

Haters... please comment 👇😂 tell me how the world is going to end.