News Coronavirus Thread

[muttley45]

The way my Super account is being decimated almost daily, i won't have enough time to wait for gloomier conditions to do a spot of speculating on the stockmarket

 

[Hojuman]

The way my Super account is being decimated almost daily, i won't have enough time to wait for gloomier conditions to do a spot of speculating on the stockmarket

Too scared to look at my $super

 

[mouncey2franklin]

There are many older Australians who will die if covid-19 gets out of hand

This is what I mean by the fear-based mindset.

 

[muttley45]

Too scared to look at my $super

My advice is don't Hoj, mine is in the lowest risk category possible, and the viewing is depressing to say the least.

 

[Tas]

I should also add, you should be mindful of the industry, while I think Qantas will survive, some airlines are expected to hit the wall and not survive.

 

[Del191229]

This is what I mean by the fear-based mindset.

Are you suggesting older Australians WON'T die if covid gets out of hand?

Like, positive thinking kills the bug?

 

[Gasometer]

....so a lot has happened since March 4th, date of the OP.

Head spinning

 

[Pykie]

Shit getting real now

The CFMEU is shitting themselves because they haven’t got traction with corona virus as an OHS issue and get paid leave for all of their workers.

The MBAV is shitting themselves because of the amount of builders that will go bust paying out redundancies and overheads with 0 revenue.

Keeping sites open is the common cause, but I can’t see it being OK in a week or so.

 

[Kanga Glory]

Too scared to look at my $super

It’s not a pretty site, down about 15%. Tears in my house

 

[mouncey2franklin]

Are you suggesting older Australians WON'T die if covid gets out of hand?

My understanding is that people die all the time. Older people especially.

In fact in 2018, according to the ABS, about 150k people died in Australia.

Deaths, Australia, 2024

Statistics about deaths and mortality rates for Australia, states and territories, and sub-state regions

www.abs.gov.au

So far I have seen zero evidence to suggest that older people have more to fear from coronavirus than they do from the common flu.

 

[7577969923]

This is what I mean by the fear-based mindset.

It is a fact. That is not up for debate.

There is an old-age facility in Washington state. They had 120 residents. 27 of them have been killed by Covid 19.

Your way of thinking is reckless and dangerous and causes people to panic.

 

[HumphreyBBear]

My understanding is that people die all the time. Older people especially.

In fact in 2018, according to the ABS, about 150k people died in Australia.

Deaths, Australia, 2024

Statistics about deaths and mortality rates for Australia, states and territories, and sub-state regions

www.abs.gov.au

So far I have seen zero evidence to suggest that older people have more to fear from coronavirus than they do from the common flu.

Educate yourself.

 

[7577969923]

My understanding is that people die all the time. Older people especially.

In fact in 2018, according to the ABS, about 150k people died in Australia.

Deaths, Australia, 2024

Statistics about deaths and mortality rates for Australia, states and territories, and sub-state regions

www.abs.gov.au

So far I have seen zero evidence to suggest that older people have more to fear from coronavirus than they do from the common flu.

Over 2,500 Italians, almost all older have died from the virus in the last three weeks.

Even on the most optimistic forecast, this thing is 10 times more lethal than seasonal flu and at least equally as infectious but without a vaccine. It is at least 10 times more dangerous to older Australians than the flu.

 

[GarnerSmash]

The way my Super account is being decimated almost daily, i won't have enough time to wait for gloomier conditions to do a spot of speculating on the stockmarket

Too scared to look at my $super

If you can, contact your super fund and see if you can move it all into cash. I did that the other day so it is now insulated from further crashes. Will revisit when the market is on the rebound.

 

[Horace]

This is what I mean by the fear-based mindset.

Its not a mindset. Have a look at the age demographic of those who have died. They are the facts as to who are the most vulnerable.

I don't know how old you are but I work with a number of people, whose age demographic, with one exception, ranges from mid 50's to the oldest who has just turned 90. They are mainly aged in their late 60's and 70's. Some of them have health problems. They are at risk and they deserve to be as best protected as possible.

They are more like friends to me than clients and I don't want to see any of them affected by selfish decisions made by people who are not prepared to follow some basic common sense rules.

This is not a totalitarian state, nothing like it, in fact. It is a bipartisan approach from all sides of politics, which is wonderful to see.

 

[Moti]

Heard on the news that they expect that these measures should last 4-6 months. If it is working up to 9-10 months.

Seriously! This virus is not good, but if that was to happen, even at four months, not sure that half the population would even care if they caught it considering the position they would be in.

Don't envy the people in power trying to decide this, especially as other countries come online pressuring the rest to respond or not compete. This will make a great PC strategy game.

 

[Billy Not Really]

Heard on the news that they expect that these measures should last 4-6 months. If it is working up to 9-10 months.

R.I.P. economy.

 

[sbdan]

Has anyone heard about infection hookups happening in Melbourne? I was talking to a friend who reckons he might do it to control when he gets the infection, recovers and then goes back to his life.

High risk stratergy, but i can see where he is coming from.

 

[SMaturin]

Hmmm. So I should move my savings out of the human bank a put them in a piggy bank under the bed.

 

[Moti]

If you can, contact your super fund and see if you can move it all into cash. I did that the other day so it is now insulated from further crashes. Will revisit when the market is on the rebound.

Did that two and half weeks ago.

 

[mouncey2franklin]

Over 2,500 Italians, almost all older have died from the virus in the last three weeks.

Without a point of reference (i.e. how many people died from the flu during the same period last year) then this number is meaningless.

Its not a mindset. Have a look at the age demographic of those who have died. They are the facts as to who are the most vulnerable.

Which diseases are the elderly not most vulnerable to?

Your way of thinking is reckless and dangerous and causes people to panic.

I'm suggesting that people should not panic.

 

[desie]

I should also add, you should be mindful of the industry, while I think Qantas will survive, some airlines are expected to hit the wall and not survive.

The tourism and hospitality industry as a whole is about to fall off a cliff, particularly off the back of bushfire season. The latest modelling indicates the current situation will cost $3b per month in economic activity and well north of 100,000 jobs.

The rapid release of cashflow into businesses is critical, particularly in the form of low or no interest loans and the short term capitalisation of credit. The problem here is that every new tightening of the health provisions needs to be met with a commensurate offset in economic stimulus.

 

[Billy Not Really]

The tourism and hospitality industry as a whole is about to fall off a cliff, particularly off the back of bushfire season. The latest modelling indicates the current situation will cost $3b per month in economic activity and well north of 100,000 jobs.

The rapid release of cashflow into businesses is critical, particularly in the form of low or no interest loans and the short term capitalisation of credit. The problem here is that every new tightening of the health provisions needs to be met with a commensurate offset in economic stimulus.

For the reasons you explained very well, is why I can't see the economy being stable or lasting unless it goes into a deeper and deeper recession if this does indeed go on for the next 4-6 months with the current measures in place, worse if it goes longer.

It'll be very hard to economically manage this without a domino effect on businesses and industries.

 

[desie]

For the reasons you explained very well, is why I can't see the economy being stable or lasting unless it goes into a deeper and deeper recession if this does indeed go on for the next 4-6 months with the current measures in place, worse if it goes longer.

It'll be very hard to economically manage this without a domino effect on businesses and industries.

There'll be a second tranche of stimulus at both Commonwealth and State level, nothing surer.

When you look at what's happening globally ours is a relative drop in the ocean as things stand.

There'll be access to quick money and subsidisation of wages. At the end of the day you either do that or pay it out as welfare anyway with the significant social dislocation that brings with it.

 

[7577969923]

If you can, contact your super fund and see if you can move it all into cash. I did that the other day so it is now insulated from further crashes. Will revisit when the market is on the rebound.

Man the horse has pretty much bolted on that. if your investment horizon is longer term. ride it out.