Coronavirus has infected the general psyche of the decision-makers of society. The stock market fell further from March 8, 2020, to March 13, 2020. The Federal Reserve, in coordination with other central banks, injected stimulus into the global financial system and just cut interest rates to zero. A few of these financial measures taken by the Federal Reserve indicates that we are at a financial crisis the like of the one we witnessed in 2019.
This is important.
The Federal Reserve chairman had a live press conference call on Sunday, March 15, 2020, and indicated stability in the system, liquidity injection, and the continuation of credit flow. But the futures still fell. Many continue to speculate and state that this is the fourth turning.
I lead with this at a Geek site because it indicates stress within the system.
Again, this is important.
Let’s take a look at what is causing the fear.
Italy is on Lockdown
The technology giant closed all of its stores outside of China as it is taking significant precautions. Why? The corporation is seeing the effects of coronavirus within places such as Italy. The Mediterranean nation is seeing significant declines in societal morale. As cases and deaths continue to rise, the government of Italy has stepped up efforts to stem the tide of the coronavirus in its region.
Italy confirmed cases of the novel coronavirus on January 31, 2020. It is now March, and the total cases in that land stand at 24,700, with deaths at least 1,800.
“It’s not a wave. It’s a tsunami, Dr. Roberto Rona, who has overseen intensive care at the Monza hospital in the Lombardy region, said of Europe’s largest outbreak.”
Spain is on Lockdown
The wife of the leader of Spain tested positive for the coronavirus and deaths are rising exponentially. There’s a total of 288 deaths so far within Spain and total cases standing at around 8,000 as of March 15, 2020.
The United States is on Lockdown
The United States is throwing the kitchen sink at the coronavirus. But they’re not doing so from a disease standpoint but a financial perspective. Government financial leaders are doing what it takes to stem the fears of small business leaders, corporate leaders, and other actors in the economic system.
We’re seeing the rise of testing and slow shutting down of public gatherings. You’re still seeing people going on spring break, traveling, and gathering in crowds despite coronavirus awareness.
The CDC states that gatherings over 50 people should be postponed for 8 weeks.
That means MEGACON might be canceled. Why not? SXSW, tech dev conferences, and many other conferences have been taken out of the picture. Many events will also stay closed for a while.
Governments in places such as Ohio, New York, California, and other areas are closing down schools and universities. They’re closing down bars and restaurants. You can order food, but many are choosing to order out.
This is a global issue. The coronavirus is affecting everything in places from India to Israel. Some fear that is is just the start of the spread of the virus in certain countries in the world.
Don’t panic but stay prepared.
Wash your hands, don’t touch your face, don’t congregate, and social distance.