Monday, March 16, 2020

Damn...Dow minus 3 large

Fox Business: "Dow drops 2,997 points on word coronavirus crisis could extend until August."

Until today, I thought the coronovirus threat was overblown but apparently everybody else disagrees.  In the morning, I got an email from Planet Fitness saying they're closing down and in the afternoon my company - the place where I make a living - said they were reviewing options.  Suddenly the old saw that when your neighbor is unemployed, it's a recession but when you're unemployed, it's a depression.

Now I'm scared.  This feels like a black swan event.

3 comments:

Roger Bournival said...

Nah - the entire issue, from media coverage to politicians shutting down fairly large swaths of commerce, is a huge overreaction. I have no problem with 'wash your hands, etc.' but a lot of this is ridiculous. Restaurants are by and large deserted this week (and for the past few weeks as well); I don't see a need for Tall Deval to step in and stomp his foot on the thousands of businesses when a massive slowdown was already underway.

But if this is what's required nowadays, fine - lockdown until April 1st, then all of this bullshit's over.

Eric said...

Yeah, I don't know. Today at work they cut hours and told salaried workers to "work from home." There's a lot of people who think it's going to get worse.

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