Economic implications of a SARS/Coronavirus outbreak

[Smurf1976]

If i had a possibility to place a bet with access to real not forged info,
I would bet 80 to 90 pc that the virus had nothing to do with this market and is straight out of the lab
Wuhan does not sell bats..
Bats then snake then pangolin....
Our virus has sequence of sars..aka bat.. and hiv..not bat not snake not pangolin
Not pc, and not really helpful to put blame...but this is a Frankenstein

After, should these market be allowed...in China or the so-called bush meat market in Africa
Not ..for buying slice of protected species i agree...
But let's not blame the bats for the virus..

My comments about markets are accepting the official version of events from the Chinese.

If it turns out that this virus was manufactured intentionally then realistically the falls in the stock market and businesses going broke are the least of our worries and the world is heading to a very dark place for quite some years.

That comment's an attempt to foresee how it would unfold, it's not a case of me wishing to see that unfold. Definitely not.

 

[Dona Ferentes]

Change is inevitable in my view.

but it will cost. Lotus land may be in for a few shocks. We probably have seen globalisation's apogee

Australia is well set for resources; the high cost economy needs reassessing. Half a day OHS induction for a day's work. Expectation of entitlement by many.

"Never let a good crisis go to waste" - Winston Churchill (apocryphal perhaps)

The former head of Elders said we produce sufficient food protein for three times our population (at the time 21 million) It won't feed Asia's expanding middle class close inverted commas.

 

[sptrawler]

I think this will prove to be part of the answer. We should be ashamed of ourselves if we end up with rotting fruit ploughed into the fields, large unemployment, and people sitting on their toilet rolls in cities with their hand out for govt $.
After all theres no footy to go to and watch and gives people a chance for some fresh air.

Can't wait to see that play out jb, work for the dole already has big problems, the biggest being the 'work' component.

 

[sptrawler]

. Meanwhile in the UK Rolls Royce have said they're ready and willing to immediately switch their efforts to manufacturing medical equipment if government can give them the design or an existing one to reverse engineer. The contrast is stark and lays bare the problems with reliance on imports from a single overseas supplier. Change is inevitable in my view.

The very reason Britain pulled out of the E.U, despite the vitriol from the U.K press, change is coming and the multi nationals are losing the propaganda war.
Trump calling out China and Johnson doing the same to the EU focused multi nationals, is the tip of the iceberg IMO.
When you can't keep essential items on the supermarket shelf, you know you have a problem.
Just my thoughts.

 

[basilio]

"A New South Wales chemical manufacturer has suspended it's production of hand sanitiser due to international chemical shortages.

The chief executive of Nowchem on the NSW's south coast, John Lamont, says the factory was making 5,000 litres per day when the coronavirus outbreak started. He says the company will now have to wait until at least Easter to resume production."

What gives with this ? As far as I can see the ingredients of hand sanitisers are Alcohol, glycerol and Hydrogen peroxide. Do we not have these basic chemical ingredients in Australia ?

KSai23/Shutterstock
Homemade hand sanitiser recipes that could help protect against coronavirus
March 17, 2020 2.26am AEDT

https://theconversation.com/homemad...could-help-protect-against-coronavirus-133668

 

[InsvestoBoy]

Can't wait to see that play out jb, work for the dole already has big problems, the biggest being the 'work' component.

Man you really are funny.

Isn't the biggest problem with work for the dole the fact that you work for barely enough money to survive, with no rights, no super, no leave, no nothing?

Isn't the second biggest problem that the Government says it's supposed to be a program to get you back into the workforce but all the studies show it's completely ineffective?

Isn't the third biggest problem that more than HALF of all work for the dole worksites don't meet safety standards forcing people to work in unsafe conditions?

No, you think the biggest problem is that people don't work.

Ha ha ha.

 

[againsthegrain]

Man you really are funny.

Isn't the biggest problem with work for the dole the fact that you work for barely enough money to survive, with no rights, no super, no leave, no nothing?

Isn't the second biggest problem that the Government says it's supposed to be a program to get you back into the workforce but all the studies show it's completely ineffective?

Isn't the third biggest problem that more than HALF of all work for the dole worksites don't meet safety standards forcing people to work in unsafe conditions?

No, you think the biggest problem is that people don't work.

Ha ha ha.

work for the dole is actually being exploited and scammed by alot of "providers" and their approved "programs" some of the programs are almost created to claim $ from the govt. I have seen it first hand a room full of young kids forced to to there 5 days a week doing nothing, the plan is to discourage them from claiming the dole.

Tax payers pay money through the govt incentives to the providers which make some decent coin per head.

The unemployed gain no skills, have no time to apply for jobs or work on their resume.

Work for the dole is a waste of time and tax payers money

 

[sptrawler]

There you have it, all the reasons why it can't be done.
Hope the backpackers can come back soon, otherwise the fruit will be left to rot on the ground.

 

[Dona Ferentes]

Officeworks having empty shelves for 'laptops, cables, printers, accessories'.... all that is needed to work from home. (Maybe hope for the NBN, yet?)

and the clumsily titled edTech sector - home programs for kids to learn on line - is doing a bit of business, as well. Hasn't helped listed KME though

There are something like 600 companies in this space.
https://www2.deloitte.com/au/en/pages/public-sector/articles/australian-edtech-market-census.html

 

[Humid]

Lets start, so what China is opening its industries.
Where did this virus start from?
Actually, where did the last 2 viruses start from? Give you a hint, starts with C
"reported minimal new cases (all imported )" you must work for the CCP. Has China been transparent in this situation, NO, but know they say everything is okay, you believe that.
"Are you saying that these countries just made up their success stories and in fact have thousands of cases and scores of people dying ? How about just reading the link I have provided"
I have consistently said, that the figures do not add up and this is way out of control.

It is a virus and nothing more, no need for panic.

HOWEVER, this statement doesn't make sense :
"On the evidence your flat statement that "they cannot control a virus" seems to fly in the face of facts."
You are making an assumption, TIME will tell whether you are correct. My personal assumption is that this virus will remain for many many years to come.
Who is correct, only time will tell.

"The biggest public health scourge of humanity was smallpox. By sheer hard work. a ton on money and careful treatment of every flareup this highly dangerous disease was eliminated. Many other diseases that once raged uncontrollably have been contained with our science skills."
Sorry, different time in history.

Do we stop cars, the ingestion of exercise sugars, lack of exercise, smoking, alcohol, pollution of the planet, no.

IT IS JUST A F___KING VIRUS, the strong will survive, the weak will die, nothing has changed since the dawn of time.

A bit like businesses

 

[InsvestoBoy]

I got an email from Aussie Broadband my NBN provider saying there will be a brief outage on Wednesday night, I think they are upgrading to put in extra capacity for all the WFH and isolaters.

 

[Smurf1976]

There you have it, all the reasons why it can't be done.

It can be done certainly but I wouldn't recommend using WFTD as the model for it.

 

[InsvestoBoy]

There you have it, all the reasons why it can't be done.
Hope the backpackers can come back soon, otherwise the fruit will be left to rot on the ground.

Maybe the Government could mandate a higher minimum wage and basic rights for those jobs that would attract Australians instead of relying on cheap, insecure foreign labor?

Added benefit the RBA might finally get the tick up in inflation it can't seem to find by cutting interest rates and goosing the housing market by forcing us city folk to pay a bit more for our fresh fruit and veg?

If only there was some kind of political party that was geared towards this kind of thing...

 

[InsvestoBoy]

Or we can just keep sending backpackers to guys like this https://www.abc.net.au/news/2019-03...eal-backpacker-pig-shed-gene-bristow/10872706

 

[sptrawler]

Maybe the Government could mandate a higher minimum wage and basic rights for those jobs that would attract Australians instead of relying on cheap, insecure foreign labor?

Added benefit the RBA might finally get the tick up in inflation it can't seem to find by cutting interest rates and goosing the housing market by forcing us city folk to pay a bit more for our fresh fruit and veg?

If only there was some kind of political party that was geared towards this kind of thing...

That actually may well happen, three things could come of this that could help. Firstly we may well process more of our food for domestic consumption, our dollar will drop and people will be looking for work.

 

[sptrawler]

Or we can just keep sending backpackers to guys like this https://www.abc.net.au/news/2019-03...eal-backpacker-pig-shed-gene-bristow/10872706

Weirdo's aren't confined to pig sheds, as history proves.

 

[sptrawler]

It can be done certainly but I wouldn't recommend using WFTD as the model for it.

If this results in a recession, the jobs will be filled, without WFTD. IMO

 

[basilio]

Man you really are funny.

Isn't the biggest problem with work for the dole the fact that you work for barely enough money to survive, with no rights, no super, no leave, no nothing?

Isn't the second biggest problem that the Government says it's supposed to be a program to get you back into the workforce but all the studies show it's completely ineffective?

Isn't the third biggest problem that more than HALF of all work for the dole worksites don't meet safety standards forcing people to work in unsafe conditions?

No, you think the biggest problem is that people don't work.

Ha ha ha.

POTY award.

 

[Smurf1976]

If this results in a recession, the jobs will be filled, without WFTD. IMO

Where the problem arises is with being forced to spend much of your income on services purchased from the employer. That makes it worse than the dole for anyone with a house, either owned or already rented, or a family to support.

Outlaw that practice and the rest of the problems largely go away.

 

[greggles]

Talk of a global coronavirus recession is now sweeping through the media in the western world. The tone is one of inevitability, and it certainly seems as though it may now be almost unavoidable.

https://www.theguardian.com/business/2020/mar/15/prepare-for-the-coronavirus-global-recession
https://www.nytimes.com/2020/03/16/business/stock-market-coronavirus-federal-reserve.html

Economic growth in China has collapsed. This from the New York Times article above:

Factory activity in China, the world’s second-largest economy, dropped 13.5 percent last month from February 2019. Fixed-asset investment, which touches on construction of buildings, roads and railways and was long the driver of Chinese growth, fell roughly 25 percent.

Get ready for another drop in demand for commodities such as base metals. Looks like the resources sector is going to be in for a difficult time for the foreseeable future.

And if you thought retail had it bad in 2019, it looks like 2020 is going to be even worse.