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NON_POLITICAL China Coronavirus THREAD

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Kaido

Elite Member & Kitchen Overlord
Feb 14, 2004
45,556
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India just went into 21 days lockdown.
I hope 21 days is enough :(

Been reading a lot of articles about India...their economy is already so fragile & so many people are living in horrible poverty, it's going to be really rough for them. Americans a hard enough time just sitting around on their couches all day, let alone literally having to go outside to survive on a day to day basis.
 
Mar 11, 2004
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Trying to find out on the net if experts think corporate earnings will be ok or lose very little after the stimulus money gets distributed. For the 2nd Quarter. Looks like the money won't get sent out until after the end of March. And assuming the virus is gone in July.
Corporations are going to hurt, but they were going to be hurting even without a pandemic because of how they've been operating, and how many of them used their tax cuts for stuff like stock buybacks instead of savings, or investments, or various other things that would leave them in better shape, but because they pissed it away for stock market gains, now are facing the stock market being incredibly volatile, and a pandemic, which makes their thin operating margins unable to handle. The bailouts are just going to get those companies by, and some of them it might just delay major upheavals that were gonna come due because of their business practices. I don't think corporate earnings are going to be ok or lose very little for basically anyone. Even companies that might get a boost from this, it'll likely be shortlived, and there's a lot of industries looking at potential upheavals, be it because of trade disputes, changes to the industry (retailers are stuck trying to pivot to not get crushed by Amazon for instance), or other issues (look at the auto industry, they've been overproducing for years to prop up the sham that they're doing well as otherwise their stock could tank and send them into a spiral; that's why we've been seeing the auto loan market go to longer term loans, but that's caused a ballooning of debt, which is likely gonna pop now with the pandemic; and there's a lot of other stuff happening in the auto market like transitioning to electric cars).
 

ponyo

Lifer
Feb 14, 2002
19,101
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Starting this Saturday, all foreigners will be temporary barred from entering China. No quarantine. Just outright ban from entering. I remember how China threw a fit and threatened other countries if they banned Chinese travelers from entering when this virus first started.
 
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ponyo

Lifer
Feb 14, 2002
19,101
2,386
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I hope 21 days is enough :(

Been reading a lot of articles about India...their economy is already so fragile & so many people are living in horrible poverty, it's going to be really rough for them. Americans a hard enough time just sitting around on their couches all day, let alone literally having to go outside to survive on a day to day basis.
Imagine almost 1.4 billion people given 2 days notice that the entire country is going into lockdown. Imagine the supply chain strain that would cause. The grocery store panics. I think it's complete madness trying to quarantine 1.4 billion people for 21 days. Even China didn't try that.
 

ponyo

Lifer
Feb 14, 2002
19,101
2,386
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The surplus food thing is starting to happen in the US. I saw this play out in South Korea. Small farmers and restaurant food suppliers are going to be stuck with lot of unsold food because restaurants and hotels are not ordering or don't need that much food anymore. And because of the previous supply chain agreements, it's hard to wholesale the unsold food back into other supply chains. So lot of unsold premium vegetables and produce end up rotting on farms and warehouses. So many lives are being ruined by this disruption.

https://www.bloomberg.com/news/articles/2020-03-22/restaurant-suppliers-are-stuck-with-tons-of-unsold-food
 

DrMrLordX

Lifer
Apr 27, 2000
17,425
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People have also been raising the alarms over Chinese wet markets for decades now. Don't forget SARS also came from bats in China too.
I forgot that SARS came from bats as well! Good on your for remembering. Guess they've just gotten away with having those wet markets there for so long. The PRC owes everyone a big apology. And a lot of money!

I saw a clip on TV earlier today. Dr. Fauci said this virus could come back again, like seasonal flu. We better get a working vaccine by then or we are screwed. The world's economy and humanity can't handle another round of beating like this again.
Makes me wonder what differentiates people who succumb to Covid-19 easily and those who don't. Are there some genetic factors in play that make it harder for it to ravage the lungs? After the bubonic plague hit Europe multiple times (particularly in the 14th century), apparently surviving European bloodlines were far more-likely to have genetic factors that made their immune systems more resistant to y.pestis.

Very likely this is the origin of Covid-19 BUT had China come clean about the gravity of the situation when it actually began months ago I suspect we would be in a lot better shape right now.
Absolutely. As much as it is a Chinese societal problem, it's mostly a government problem. They got lucky with SARS. No such luck this time!

I hope 21 days is enough :(

Been reading a lot of articles about India...their economy is already so fragile & so many people are living in horrible poverty, it's going to be really rough for them. Americans a hard enough time just sitting around on their couches all day, let alone literally having to go outside to survive on a day to day basis.
India's economy simply doesn't include a lot of its most poor. Locking them down will make very little difference to their GDP. It'll make life miserable for people who live in crowded areas since they'll have to carefully control movement of people. But when you're locking down people who already live in crushing poverty, the numbers won't show up on paper so much.

many of them used their tax cuts for stuff like stock buybacks
I've said it before, and I'll say it again: stock buybacks are a leading indicator of a market downturn.


These buybacks do a lot to help executives/major shareholders, but they don't do much for the health of the company itself. Seems like a weird hack of fiduciary responsibility laws since the temporary rush of increased stock value helps investors in the short term but hurts the company in the long term.

Just got an email. Governor of Georgia mandated all public schools remain closed til until April 24th.

https://www.ajc.com/news/state--regional-education/kemp-georgia-public-schools-remain-closed-through-april/9k0ortYU6cu1yIWjOfPIjI/

Not surprising but this is going to have repercussion.
I think TN did the same thing.
 

DrMrLordX

Lifer
Apr 27, 2000
17,425
6,416
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@ponyo

wrt food glut

The United States has retained its canneries/food packaging facilities. We can absolutely preserve that excess if farmers are willing to deal. They can take losses, but it would be a boon for people living in hunger. We have a lot of people that need food right now! Seems like it should have been a target of the "stimulus" money.
 

CZroe

Lifer
Jun 24, 2001
24,191
845
126
@ponyo

wrt food glut

The United States has retained its canneries/food packaging facilities. We can absolutely preserve that excess if farmers are willing to deal. They can take losses, but it would be a boon for people living in hunger. We have a lot of people that need food right now! Seems like it should have been a target of the "stimulus" money.
Wonder if they'll have trouble getting raw materials from China... like aluminum for cans.
 

DrMrLordX

Lifer
Apr 27, 2000
17,425
6,416
136
Wonder if they'll have trouble getting raw materials from China... like aluminum for cans.
I think some food packaging facilities still use steel cans, and our steel industry can produce steel of that quality pretty easily. We've been trying to prop up that industry for decades. As for aluminum:


China is only #2 on the list. We do have some idled aluminum foundries here in the US, but bringing those back online may just not be feasible.
 

ponyo

Lifer
Feb 14, 2002
19,101
2,386
126
@ponyo

wrt food glut

The United States has retained its canneries/food packaging facilities. We can absolutely preserve that excess if farmers are willing to deal. They can take losses, but it would be a boon for people living in hunger. We have a lot of people that need food right now! Seems like it should have been a target of the "stimulus" money.
What I've seen happen in South Korea is that eventually even factories are overwhelmed and start turning away some of the excess food. In Korea, it's the farmers who took the bath. There's movement in SK right now begging and encouraging people to buy food direct from affected farmers. And the new public campaign seems to be working somewhat as the response have been positive.

We the public will not see any savings from the surplus food. We'll actually pay more for food and not less. I've noticed produce prices have shot up drastically at my local Costco. Like almost double the price for certain produce.
 

Svnla

Lifer
Nov 10, 2003
17,937
1,365
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Latest updates -

13 deaths and over 2,800 confirmed cases in Australia. It is banning travelers from outside and its citizens are advised to stay put. Funny that commie china is doing the same while it whined and bitched about what US did a few months ago. Do as we say and not as we do, eh?

Several countries are hoarding foods and supplies just in case this thing will stay around for a while.

Oh the coronavirus challenge is so nasty and stupid and those fools need to pay heavy fines and be toss in jail.
 
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Muse

Lifer
Jul 11, 2001
30,534
3,717
126
NON_POLITICAL (???) :rolleyes:


Just sayin.
I was responding to a post that said Trump wasn't culpable for the CDC's failures. I countered with my opinion that he had much responsibility for the failures in our response. I don't think it's possible to really wring politics out of a discussion of the covid-19 epidemic. Yes, we should try to focus here on the medical, epidemiological aspects, but politics and epidemiology are inextricably interrelated. Sorry. It's just the way things are.
 

Muse

Lifer
Jul 11, 2001
30,534
3,717
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I still don't see how testing helps people who are already sick. There's no specific treatment at this point. Kind of need to test people before they start showing symptoms.
It's important to know if they have covid-19 or the flu. If the former, isolation is imperative to quell the epidemic. So, it's not going to help the already sick but it will help society at large.
 
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CZroe

Lifer
Jun 24, 2001
24,191
845
126
I was responding to a post that said Trump wasn't culpable for the CDC's failures. I countered with my opinion that he had much responsibility for the failures in our response. I don't think it's possible to really wring politics out of a discussion of the covid-19 epidemic. Yes, we should try to focus here on the medical, epidemiological aspects, but politics and epidemiology are inextricably interrelated. Sorry. It's just the way things are.
...but the comment you were responding to was making a correction and did not bring up Trump. I'm no Trump fan but the CDC, their bad luck with the first batch of tests, their refusal to accept foreign-made tests, and all their pre-existing red tape dropped the ball on testing. There's plenty we can criticize him but we really can't hang the lack of early testing around his neck.
 

Muse

Lifer
Jul 11, 2001
30,534
3,717
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That's a "lock you up and throw away the key for life" kind of shit. There is no reason for someone like that to be amongst normal people of society.

You have to be a complete shithead to do something like that.
I have seen 3 separate reports of strangers spitting in the face of pedestrians in my vicinity over the last week or so. Really appalling stuff.
 

DrMrLordX

Lifer
Apr 27, 2000
17,425
6,416
136
What I've seen happen in South Korea is that eventually even factories are overwhelmed and start turning away some of the excess food.
That might happen here, but we have a LOT of food processing in this country. It's pretty staggering.

There's movement in SK right now begging and encouraging people to buy food direct from affected farmers. And the new public campaign seems to be working somewhat as the response have been positive.
I have no problem with that happening in the United States. Problem is that getting food from huge "factory farms" is going to be a lot harder that way than patronizing smaller, local farms that already rely on limited local supply chains.

We the public will not see any savings from the surplus food. We'll actually pay more for food and not less. I've noticed produce prices have shot up drastically at my local Costco. Like almost double the price for certain produce.
That's probably more due to breakdown of supply chains than anything else.
 

BarkingGhostar

Diamond Member
Nov 20, 2009
9,462
2,268
136
The surplus food thing is starting to happen in the US. I saw this play out in South Korea. Small farmers and restaurant food suppliers are going to be stuck with lot of unsold food because restaurants and hotels are not ordering or don't need that much food anymore. And because of the previous supply chain agreements, it's hard to wholesale the unsold food back into other supply chains. So lot of unsold premium vegetables and produce end up rotting on farms and warehouses. So many lives are being ruined by this disruption.

https://www.bloomberg.com/news/articles/2020-03-22/restaurant-suppliers-are-stuck-with-tons-of-unsold-food
Not near me. I went into Publix each day the last couple of days and they had ground nothing. No version of ground beef, turkey, etc. I was stunned.
 

Hayabusa Rider

Admin Emeritus & Elite Member
Jan 26, 2000
50,872
4,213
126
With Dyson digital motor patented cyclone technology! :p

Seriously though that's awesome of them. Cool to see companies stepping up to retool their factories to make needed supplies.
Unfortunately, the prototype sucked the lungs out of four patients... badaboom!
 

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