Economic implications of a SARS/Coronavirus outbreak

[basilio]

https://virusncov.com/

This is an excellent site to review what is happening with the COVID 19 virus. It drills deeper into the levels of illness as well as the recovery of people.
Worth a look.

 

[basilio]

Assuming the story is accurate, "Price gouging" by the Chinese in this instance could be considered a criminal offence in my book! Poor form if true.

Really ? I suggest the masters of price gouging are the importers and resellers of the masks and products made in China.

 

[Humid]

Stimulus so far seems to have been targeting food on the table and a roof on over our heads.

Have any govs started talking about actual stimulus to create new jobs, new projects, new money in to the system, not just replacing what was lost?

They didn’t seem to have any ideas prior to this

 

[SirRumpole]

They didn’t seem to have any ideas prior to this

Someone here mentioned the idea of more social housing, which is worth considering.

Employment in the building industry, take the pressure off young families and the older retrenched people struggling to pay the rent.

Better than building more motorways imho.

 

[hja]

14% reinfection rate is one number I have seen but reported 2nd time around its not as bad

It would be good know especially you've had it with the less common symptoms like diarrhea, appetite loss and lack of taste... no obvious respiratory problem though.
But apparently the antibodies test isn't reliable.
?
Any idea when this test is available here?
And it's the same old Covid-19 all around the world that hasn't mutated.

 

[rederob]

It would be good know especially you've had it with the less common symptoms like diarrhea, appetite loss and lack of taste... no obvious respiratory problem though.
But apparently the antibodies test isn't reliable.
?
Any idea when this test is available here?
And it's the same old Covid-19 all around the world that hasn't mutated.

Our TGA will not allow any non-approved tests to be available.
They can be obtained online in the UK, and the USA is fast tracking a few companies to make millions as well.
Even if unreliable, if they are cheap, I would retest regularly if venturing out, as once I knew I had the antibodies it is difficult to get re-infected.

 

[hja]

Our TGA will not allow any non-approved tests to be available.
They can be obtained online in the UK, and the USA is fast tracking a few companies to make millions as well.
Even if unreliable, if they are cheap, I would retest regularly if venturing out, as once I knew I had the antibodies it is difficult to get re-infected.

And a Bondi Beach drive-through test would be fruitless for antibodies if having no current symptoms. I can't find anything on imminent TGA approved testing.

 

[rederob]

I can't find anything on imminent TGA approved testing.

Look here.
Some are designated "Point of Care Test" (POCT) kits rather than "self-test" kits.

 

[sptrawler]

A lot of 'temporary' Bank branch closures happening at present, it will be interesting to see how many re open, after the crisis.

https://www.theage.com.au/business/...emporary-branch-closures-20200406-p54hit.html
From the article:
National Australia Bank will temporarily close more than one in 10 of its branches, as social distancing rules lead to a sharp drop in the number of people doing their banking in person.

The lender on Monday said it had closed about 20 of its 635 Australian branches so far in response to coronavirus, and the number of outlets closed would rise to 70 this week.
ANZ Bank had on Monday also closed 58 of its branches, while Westpac has had up to 30 of its branches closed in recent weeks, while Commonwealth Bank had 16 of its branches shut.
Banking sources suggested more outlets were likely to close across the industry, as the number of people visiting branches falls sharply, and banks face staff shortages due to parents needing to care for children.
"We think it’s a really great opportunity to start re-skilling our teams, so that they can start to help other areas that have been inundated during this period,” she said.
For example, she said NAB had been contacting 15,000 customers who did their banking using a passbook. Some of this group had used a passbook account for 40 years and had been reluctant to change, she said, but were now learning how to do some of their banking digitally.

 

[IFocus]

A lot of 'temporary' Bank branch closures happening at present, it will be interesting to see how many re open, after the crisis.

https://www.theage.com.au/business/...emporary-branch-closures-20200406-p54hit.html
From the article:
National Australia Bank will temporarily close more than one in 10 of its branches, as social distancing rules lead to a sharp drop in the number of people doing their banking in person.

The lender on Monday said it had closed about 20 of its 635 Australian branches so far in response to coronavirus, and the number of outlets closed would rise to 70 this week.
ANZ Bank had on Monday also closed 58 of its branches, while Westpac has had up to 30 of its branches closed in recent weeks, while Commonwealth Bank had 16 of its branches shut.
Banking sources suggested more outlets were likely to close across the industry, as the number of people visiting branches falls sharply, and banks face staff shortages due to parents needing to care for children.
"We think it’s a really great opportunity to start re-skilling our teams, so that they can start to help other areas that have been inundated during this period,” she said.
For example, she said NAB had been contacting 15,000 customers who did their banking using a passbook. Some of this group had used a passbook account for 40 years and had been reluctant to change, she said, but were now learning how to do some of their banking digitally.

Applies to a lot of things across the board what is the new normal going to look like?

Banks are big on talking customer service (that works for them) not so much for customers suspect the market will determine which branches that return and that will be down to competition, some thing the banking sector has lacked as the big 4 have really been nothing more than a cartel with us underwriting them to strip us with fees.

Great scam if you can run it.

 

[sptrawler]

Applies to a lot of things across the board what is the new normal going to look like?

Banks are big on talking customer service (that works for them) not so much for customers suspect the market will determine which branches that return and that will be down to competition, some thing the banking sector has lacked as the big 4 have really been nothing more than a cartel with us underwriting them to strip us with fees.

Great scam if you can run it.

I suppose it is that, or have an open banking system, which wouldn't be pretty in the current circumstances. IMO
On the other hand they could be run as a not for profit organisation like HBF, from memory the banks ROE isn't brilliant, compared to other mega size industries.

 

[barney]

Really ? I suggest the masters of price gouging are the importers and resellers of the masks and products made in China.

You could be right on that front as well Bas …

I was only going on the article by Darren Gray (Age/SMH) where he said ...

Magnus Nicolin, the head of protective suits and glove manufacturer Ansell, says Beijing needs to crack down on Chinese companies that have substantially lifted the prices of face masks during the COVID-19 crisis.

"There's been an enormous price escalation. Some of the Chinese companies who are claiming to be doing so much good for mankind have taken prices up two, three, four, or even 10 times what it was before.

At the same time, he said the ASX-listed personal protective equipment (PPE) maker had "not changed our pricing one bit".

 

[sptrawler]

Mark McGowan in W.A is doing an excellent job IMO, he has been firm but decisive, not leaving anything to gossip and speculation.
https://www.abc.net.au/news/2020-04...to-six-as-two-die-in-perth-hospitals/12128886
From the article:
Parliament to debate urgent legislation next week
Meanwhile, the Government has confirmed plans to recall State Parliament next week to pass urgent coronavirus-related legislation.

MPs have been told the Lower House will sit next Wednesday and the Upper House on Thursday, to consider more measures to deal with the impact of COVID-19.
Among the items expected to be on the agenda is the use of Lotterywest revenue as a support fund for not-for-profit organisations, exemptions for payroll tax related to payments from the JobKeeper scheme and changes to commercial tenancy arrangements agreed to by national cabinet.

Mr McGowan said commercial rents "would need to come down".

"Commercial tenants have had revenue collapse, commercial rents should reflect this," he said.

"I don't want to see any tenant lose their business and then be sued for their house just because they cannot pay their rent during this period."

Mr McGowan said the Government was also "assessing options" to provide land tax relief, but no commitments had been made.

 

[MrChow]

Australia is going to be a great test case for the rest of the world. Low numbers in a warmer climate but risk of secondary wave during flu season. What happens here in June is likely to be replicated (good or bad) around the world as seasons change.

 

[MrChow]

https://www.afr.com/politics/federa...alia-s-coronavirus-death-rate-20200402-p54gbz

Only 431 people have caught the Coronavirus from a stranger in Australia.

 

[sptrawler]

Germany to tighten regulations on foreign take overs of German companies.

https://www.bloomberg.com/news/arti...-rules-on-foreign-takeovers?srnd=premium-asia
From the Article:
Without identifying potential buyers, Altmaier said authorities are already scrutinizing a concrete attempt to purchase a German company involved in “medical production,” and examining others.
As companies contend with plummeting market values -- Germany’s DAX index is down more than 20% so far this year -- Chinese firms are getting ready for discount deals in Europe, exploiting the turmoil in which businesses are scrambling for cash to stay afloat.

Bankers have recently seen a spike in requests from Chinese firms and funds for proposals on targets in Europe, according to people familiar with the potential deals. Many potential acquirers are state-owned enterprises, they said.

Merkel’s government in recent years has adopted a stricter stance, particularly with respect to China, on attempts to seize or gain leverage over German companies with crucial know-how for the digital economy. In particular, it’s focused on areas such as artificial intelligence and battery-cell production.

The current initiative, a tightening of Germany’s Foreign Trade Law, will restrict access to company know-how to potential bidders while an acquisition is being reviewed.

 

[sptrawler]

China looks to capitalise on a once in a century event to pick up bagains, at least Australia is aware of the issue.
https://www.bloomberg.com/news/arti...tes-are-gearing-up-in-europe-for-m-a-bargains

 

[Boggo]

China looks to capitalise on a once in a century event to pick up bagains, at least Australia is aware of the issue.
https://www.bloomberg.com/news/arti...tes-are-gearing-up-in-europe-for-m-a-bargains

Locally too as of last week...

 

[MrChow]

https://www.dfat.gov.au/trade/resou.../Pages/statistics-on-who-invests-in-australia

I find it strange that a country that is responsible for 1.8% of foreign investment in Australia gets 100% of the articles. Although if you replace China with Belgium nobody will read the clickbait.

 

[matty77]

Because Chinese investment has grown significantly over the past decade, because Chinese investment continues to grow as a %, because the Chinese Government is a Communist Government and rules by fear and intimidation, is dishonest and are liars, because with China it only goes one way and thats their way, it always benefits China most, because China love underhanded deals and spying on other Countries without any implications and they China love to deny and spin disinformation campaigns....

Dont get me wrong, I am talking about the CPC here not the Chinese people. I have a few Chinese friends and they are wonderful people, just saying before you try and spin the racist card out...