2019-nCoV / Corona virus Pt 2

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Ampulla of Vater said:
Sure. I guess I don’t consider myself anything even close to a seamstress so that seemed a worse choice of terms. I really am just a “sewer” at best.
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The preferred term in Anhk Morpork is "needlewoman".
The Guild of Seamstresses were in a different (older?) profession.
 
Don’t want to be a scaremonger but obviously (to me) millions of people and businesses are going to go broke around the world, and some of those will be very rich people and big businesses, perhaps including banks and other large financial institutions. Will countries also go broke and will the world have to start a new economic system from scratch? Will this be the start of WW3? Should I just have another drink? :boxedin:

But seriously, I'm more concerned about economies than coronavirus, at least most people are surviving those little buggers.

Perhaps there will be a tipping-point where letting the virus do it's thing makes more sense than completely ruining economies?
 
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Skeptic Ginger said:
MERS has never broken out in numbers that warranted vaccine research. And there was vaccine research ongoing about SARS but it was halted when the disease was.

Some complained vaccine research was halted, some didn't want to spend the money.
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Ah. Good to know a vaccine is viable.
I guess now that "real" people, are dying in numbers (e.g., USAans instead of foreign brown people) we'll see some advancement a vaccine for this one.
 
ynot said:
Don’t want to be a scaremonger but obviously (to me) millions of people and businesses are going to go broke around the world, and some of those will be big businesses perhaps including banks and other large financial institutions. Will countries also go broke and will the world have to start a new economic system from scratch? Will this be the start of WW3? Should I just have another drink? :boxedin:
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I recommend the drink.

All of that could happen, and if it does.....it's temporary. We still have raw materials, minds, knowledge, and even equipment. We can put life back together again even if our financial system is turned upside down. It might take a year or two, but it can happen.


What will really suck, though, is that I fear a round of strong inflation will wipe out the value of people's life savings. Speaking as someone who actually has life's savings, that would really suck.
 
Meadmaker said:
I recommend the drink.

All of that could happen, and if it does.....it's temporary. We still have raw materials, minds, knowledge, and even equipment. We can put life back together again even if our financial system is turned upside down. It might take a year or two, but it can happen.


What will really suck, though, is that I fear a round of strong inflation will wipe out the value of people's life savings. Speaking as someone who actually has life's savings, that would really suck.
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This! Have another drink.

It's going to get bumpy. Some will suffer big and small. But overall we will get by.

This is serious but not the end of days.
 
Kings Full said:
This! Have another drink.

It's going to get bumpy. Some will suffer big and small. But overall we will get by.

This is serious but not the end of days.
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Well cheers! But I'm not so sure you're right. Guess it all depends on how long it lasts.

Not end of days, but the end of $ as we know it perhaps?
 
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ynot said:
Well cheers! But I'm not so sure you're right.

Not end of days, but the end of $ as we know it perhaps?
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It's ok to feel that way, I suspect many do. It's just not ok to act on that feeling.

Think of it as getting a root canal. You have no choice but to sit still and let the dentist drill. It will hurt a bit, but when its over you'll get a lollipop. ;):D

(bad analogy but it still stands imo.)
 
Meadmaker said:
What will really suck, though, is that I fear a round of strong inflation will wipe out the value of people's life savings. Speaking as someone who actually has life's savings, that would really suck.
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Decimated stock markets are already doing that.
 
ynot said:
Decimated stock markets are already doing that.
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You don't know that! So don't say it.

You can't predict where the market will be in 6 months. All of the recent losses may be fully regained, amounting to nothing in the end.
 
Kings Full said:
It's ok to feel that way, I suspect many do. It's just not ok to act on that feeling.

Think of it as getting a root canal. You have no choice but to sit still and let the dentist drill. It will hurt a bit, but when its over you'll get a lollipop. ;):D

(bad analogy but it still stands imo.)
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Don't worry about me personally. I'm not freaking out, in fact it's all a bit exciting for an old bugger like me. Like a horror movie is exciting ;)
 
Kings Full said:
You don't know that! So don't say it.

You can't predict where the market will be in 6 months. All of the recent losses may be fully regained, amounting to nothing in the end.
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I do now very well the current state of the world's stock markets. That's all I was referring to.
 
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Kings Full said:
Fair play. Sorry if that came off too strong. :o
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No worries. Because I’m not overly emotionally affected by considering worst case scenarios I sometimes forget how much many others are. I will back-off if the crowd or mods want me to.
 
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ynot said:
Decimated stock markets are already doing that.
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yeah, most of those savings were actually in the form of stock.

However, stocks are risky investment. I still own the shares. If we can recover and the companies don't go bankrupt, their value should grow in the future, hopefully before I need money. But yes, retirement seems a lot farther in the future and/or a lot less comfortable than it seemed a month ago.

If it all collapses and we start over.....some of my wife's money is in gold. That ought to still be worth something.
 
ynot said:
No worries. Because I’m not overly emotionally affected by considering worst case scenarios I sometimes forget how much many others are. I will back-off if the crowd or mods want me to.
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On this we have common ground. I have no problem considering the worst case scenario. That said, I try to keep things in perspective.

I've tried to live my life by one simple rule: Hope for the best but prepare for the worst.

Don't back off on my account.
 
Meadmaker said:
yeah, most of those savings were actually in the form of stock.

However, stocks are risky investment. I still own the shares. If we can recover and the companies don't go bankrupt, their value should grow in the future, hopefully before I need money. But yes, retirement seems a lot farther in the future and/or a lot less comfortable than it seemed a month ago.

If it all collapses and we start over.....some of my wife's money is in gold. That ought to still be worth something.
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I can't imagine a future, no matter how dystopian, where gold isn't a fungible asset.
 
Meadmaker said:
yeah, most of those savings were actually in the form of stock.

However, stocks are risky investment. I still own the shares. If we can recover and the companies don't go bankrupt, their value should grow in the future, hopefully before I need money. But yes, retirement seems a lot farther in the future and/or a lot less comfortable than it seemed a month ago.

If it all collapses and we start over.....some of my wife's money is in gold. That ought to still be worth something.
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I've been retired for a few years so my only problem is retaining the value of the money I have through all this.
 
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