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Economic fallout mounts as coronavirus cases top 1 million worldwide

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By Michael R Sisak, Lori Hinnant and Mark Sherman

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Corona recession is knocking. It's not gonna be pretty.

7 ( +7 / -0 )

Corona recession is knocking. It's not gonna be pretty.

Especially with countries like Japan with their head in the sand allowing people to go to work in packed trains and not yet having a relief aid plan....

If the govt here was serious about social distancing they would stop the train services immediately.

5 ( +14 / -9 )

I'm already wondering how the post-pandemic world will run. Chinese officials would try to escape or divert blame and responsibility while people in most affected countries namely the US would hold a strong grudge. A chance of "reconciliation" among them seems bleak.

0 ( +5 / -5 )

You know what i don't get? According to the worldometers Japan numbers of infection is around 2k but the number of recovered barely has gone up in the last 2 months. But china who had 80k infection has more than 76k recovered while Korea around 10k infection has around 6k of recovered. And korea mass infection begun in march! It only took 2-3 weeks for most of them to recovered and be release from the hospital. How is Japan number of recovered patients so freaking low? Is almost like none of the patient are released.

Are people just getting release to make more space for the hospitals or are the other countries treatments just that effective? Because i want some of those medicines then.

-3 ( +4 / -7 )

Especially with countries like Japan with their head in the sand allowing people to go to work in packed trains 

Unfortunately if you stop the vast majority of people from getting to their jobs, there's goes the economy, and you'll have more deaths and suffering than than COVID-19 can ever wreak.

It is what it is.

-1 ( +11 / -12 )

Why there is no alcohol for disinfection at the train stations, so many people use trains and subways in Japan, it is extremely important i guess. Everyday i hear announcement about disenfection at the stations but there is no alcohol gor it. Alcohol is sold out at drug stores and almost possible to find but governement can replace it at the stations.

-3 ( +3 / -6 )

Why not have health officials take temperatures at Japan’s stations ?

i have been on trains recently with some really sick people....

-3 ( +4 / -7 )

I have never seen them disinfect the train stations and inside the train cars like they were doing in Korea and other countries. Maybe they do this over night but at least in the pictures the other countries were doing this throughout the day. I would feel more reassured if I saw them constantly sanitizing these highly occupied locations.

2 ( +5 / -3 )

I'm already wondering how the post-pandemic world will run. Chinese officials would try to escape or divert blame and responsibility

The CCP is already hard on running its propaganda now. It is trying to show its citizens how CCP is helping the other countries by sending aids and is now saving the world. CCP has no shame.

4 ( +6 / -2 )

If the CCP doesn't end up getting its head chopped off by internal conflict, I see as the world sinks further into debt and suffering that a war could ensue if proper action isn't taken soon.

With the USA losing 10 million jobs in a couple of weeks and this number will continue to grow and now news outlets comparing the lives lost to that of the Vietnam war or 9/11 how else do you think this will play out.

Just a few days ago the US was stating that they were expecting around 240,000 to die if they keep up with their plan to control the spread of this CCP virus. Based on the current death rate in the US of 2.2% that would mean at least 10.9 million would be infected. Those numbers are just best case scenarios and for those that think that this is under control, in a global scale, this hasn't even gotten down the driveway yet to go on a road trip. In other words, it's just beginning.

0 ( +6 / -6 )

How is Japan number of recovered patients so freaking low?

Probably down to poor reporting. I look at the same website. Japan is the only developed country not to have have an analytical breakdown.

9 ( +10 / -1 )

Economic fallout or more proof that while "The coronavirus outbreak has thrown 10 million Americans out of work in just two weeks, the swiftest, most stunning collapse the U.S. job market has ever witnessed, and economists warn unemployment could reach levels not seen since the Depression, as the economic damage piles up around the world." the continued exchange market holds steady when in the past any changes to the jobs market futures made the exchange markets topple with the release of a bad outlook. Yes I would say caught red handed with market manipulation. One reason why despite the COVID 19 Japan's economy stays sound as long as people keep going to work. The US will start tumbling if no production output is conducted and will find instead a depression. Is this what people want? A global depression? The choice is ours.

2 ( +4 / -2 )

Unfortunately if you stop the vast majority of people from getting to their jobs, there's goes the economy, and you'll have more deaths and suffering than than COVID-19 can ever wreak.

Governments in many countries knows this. However, after seeing what is happening in Italy, Spain, France, UK and the USA. They just decide it is too risky to gamble and play it safe.

7 ( +8 / -1 )

The one question I have is when is the pressure on the country where it started and conducting this research for "peaceful" intentions going to PAY the world monetarily. Give back that wealth it stole from the world.

-4 ( +2 / -6 )

Especially with countries like Japan with their head in the sand allowing people to go to work in packed trains and not yet having a relief aid plan.... 

If the govt here was serious about social distancing they would stop the train services immediately.

Spot on.

There is zero social distancing on this train. Abe and Co are begging for the surge in cases that is about to happen. 

Japanese people: You are not special; you are human beings susceptible to viral infections like everyone else.

-3 ( +7 / -10 )

Is it the end of a worldwide economic boom and man's ceaseless exploitation of mother nature and domination of it? Is it retaliation by nature? Is it the beginning of an end, the apocalypse? I hope not

Hang on, people! Go for it! Cheer up!

-1 ( +3 / -4 )

The Council Of State Governments,

COVID-19 State Executive Orders:

https://web.csg.org/covid19/executive-orders/

0 ( +0 / -0 )

10 million new unemployed in America in just two week. Trump's stats will have the Conronavirus and those stats are out of the window.

G20 to invest $5 trillion in world economy.

-3 ( +0 / -3 )

The mounting economic fallout almost certainly signals the onset of a global recession,

The responsibility for allowing this monster to spread like it has to be placed directly on the heads of 'leaders' throughout the globe who dithered too long in confronting it, even though they had more than enough information from experts saying DO SOMETHING NOW.

The responsibility for the healthcare crises nations are facing also has to be placed on the heads of those same leaders, especially those whose nations had made public healthcare for all a low priority.

The responsibility for this has to be place on the heads of the putative elite who've long abused their powers by controlling politicians who've kept in place programs that advantage the wealthiest while ignoring the needs of the general population. Or who've said just give the general population some bread crusts with a bit of trickle down.

Most democratic nations still have some ability to elect politicians who prioritize the needs of the general population and who realize a healthy economy requires quality public healthcare.

-2 ( +2 / -4 )

The responsibility for allowing this monster to spread like it has to be placed directly on the heads of 'leaders' throughout the globe who dithered too long in confronting it, even though they had more than enough information from experts saying DO SOMETHING NOW.

You say this, and yet you go on to note how these leaders always help the wealthy at the expense of the general public. When you say "do something now," how can you expect anything except more of the same?

The responsibility for this has to be place on the heads of the putative elite who've long abused their powers by controlling politicians who've kept in place programs that advantage the wealthiest while ignoring the needs of the general population.

So, your local leader takes a bribe and steals from his/her constituents, and the bad-guy is the person who paid the bribe? I would say the politician is worse, because they are not only committing a crime, but they are committing it against the people they have promised to serve and protect.

Politicians will almost never prioritize the welfare of the people. It's against their nature. The more power you give them, the worse you will be abused. The only way to save the people is by limiting government.

3 ( +3 / -0 )

Politicians will almost never prioritize the welfare of the people

I'll still take the 'almost never' found in most democracies to the 'never' the world's seen when systems - even more authoritarian than the US, for example - prevail. With a democracy there still are still chances for attention be given to welfare 'for the people', albeit they slim. That's probably as good as it can get for those not in the elite (putative) world. The US is seeing what happens when an 'elite' politician looks out first and foremost for his fellow elite.

-2 ( +1 / -3 )

eCigarette issue is very interesting. Weren’t they getting some sort of pneumatic stress disorders?

0 ( +0 / -0 )

Turning into pure Hollywood. #filmyourhospitals

0 ( +0 / -0 )

With a democracy there still are still chances for attention be given to welfare 'for the people', albeit they slim. That's probably as good as it can get for those not in the elite (putative) world. The US is seeing what happens when an 'elite' politician looks out first and foremost for his fellow elite.

Maybe some in the US are noticing it for the first time, but it has been standard for decades now. That's why it continues, people still naively believe in that their favorite leader is any different. The parties take turns managing the livestock.

The best chance for any democracy to work is when governments are small-scale and accessible to the people. With the massive governments most countries have now, the voter really has almost no power.

2 ( +2 / -0 )

Most democratic nations still have some ability to elect politicians who prioritize the needs of the general population and who realize a healthy economy requires quality public healthcare.

Yeah, it’s looking so well for Europe, Israel and Latin America.

-3 ( +2 / -5 )

It’ll disappear. It’ll be a miracle.

0 ( +0 / -0 )

Ccp, Japan, SK and western governments all should be responsible to this tragedy。Sadly, all of them neglect their faults on purpose and deflect it on each other.

-1 ( +1 / -2 )

Guys it will be a big depression. Many people is going to lose their lives not because of corona virus but what will come after unemployment, poverty etc.

Instead of blaming each other how the country was ruled it's better to focus what we can do. Let's start building a new future!

0 ( +1 / -1 )

Here's something that a lot have yet to consider. The USA has 97% of their antibiotics made in China. What happens when the CCP decides to hold that over the USA's head? Talk about economic power control. How did the USA ever get into that position in the first place? Are there any other countries that maybe in the same position as the USA? We know that the W.H.O. are clearly in the pocket of the CCP and because of that are also responsible for this pandemic.

Don't believe the 97% claim? Search for yourself online.

97% of antibiotics made in china

0 ( +1 / -1 )

In the last number of days, I have been conferencing with analysts that view Coronavirus pandemic as an economic catastrophe above a chronic health risk.

I wonder does the global community view their personal financial exposure, the threat of unemployment over and above the perception of threat that represents a risk to life?

It is a sobering thought/experience when faced with fact that some inevitably fear the economic outcome to have risen more acutely than fear relating to the level of threat posed by the virus.

-1 ( +0 / -1 )

And the country currently with the largest number of cases could have prevented much of the disaster if it had a leader who didn't ignore his intel experts in Jan, then consistently downplay the pandemic in Feb, then fail to adequately prepare in Mar, then stumble and bumble its response in Apr...

The only fortunate thing from this train wreck is that the American people have clearly seen how incompetent he is - and will vote him out in droves in Nov.

-1 ( +3 / -4 )

With the massive governments most countries have now, the voter really has almost no power.

'Little old Russia' and China cases in point.

-1 ( +1 / -2 )

I feel its too late for Japan and this virus will run its course, loss of life will be inevitable but Im optimistic ( hoping like hell) that at some point medicine will be available and we’ll get it under control, then focus on getting economies back up and running. Hard yards ahead but gotta be positive...

1 ( +1 / -0 )

The virus will be long forgotten while we still struggle with the economy. Economic crashes tend to kill people who aren't wealthy and famous, so we will see few obituaries even though the death toll will be much higher. The virus is like any passing virus. It will pass, most people will be fine. But the economy is going to be a long, drawn-out mess because people will almost certainly elect politicians who make the most outlandish promises.

1 ( +1 / -0 )

The virus will be long forgotten while we still struggle with the economy.

The Spanish flu came back three years in a row. Do you think they forgot it so quickly?

1 ( +2 / -1 )

@commanteer

I don’t think libertarianism is going to save the world. This is a time when people are looking at governments and seeing which ones acted with competence.

Germany, Taiwan and South Korea have been praised for decisive action, Australia and NZ have also emerged with some credit, particularly in terms of helping out citizens who are suffering financially. My own country, the UK, has been rightly been slammed for indecision but we are led by a clown along with the US.

Government isn’t necessarily the problem. Incompetent government is clearly a problem.

4 ( +4 / -0 )

Watching the parliamentary session on TV now and see there is a briefing about how Britian was following the mitigation model until Johnson was informed that modelling suggested if they continued with that strategy, there would be untold more deaths. Johnson listened to the scientists and sure enough, even though things are bad, they are nowhere as bad as they could have been.

Another thing that is being mentioned is the antibody test. Hopefully, the LDP will order millions of those and begin testing en masse.

Only those who are known to have had the disease (and other essential workers) should be the ones allowed to be out and about. The rest should be isolated ASAP until the RO is below 1.

0 ( +0 / -0 )

Government isn’t necessarily the problem. Incompetent government is clearly a problem.

I couldn't agree with you more Jimizo

3 ( +3 / -0 )

And they all have guns.

0 ( +0 / -0 )

My own country, the UK, has been rightly been slammed for indecision but we are led by a clown along with the US.

Hmmm...clown, not really, but mistakes were surely made, but that happened before it all landed in Trump’s court and for some of our medical professionals like Dr. Bardot, a licensed health physician to bungle this is unacceptable, she should have known better.

-3 ( +0 / -3 )

Hmmm...clown, not really, but mistakes were surely made

No need for the use of the passive here.

Trump made mistakes. Johnson made mistakes. The buck stops with them.

I wish conservatives would talk straight. smh.

4 ( +4 / -0 )

mistakes were surely made, but that happened before it all landed in Trump’s court

Trump is the president. The ball was in his court from day one. He disregarded it. Compare that with countries that acted quickly and efficiently like South Korea and Taiwan. The comparison clearly illustrates that Trump's incompetence and denial has led to a much worse catastrophe.

3 ( +3 / -0 )

Trump is the president. The ball was in his court from day one. He disregarded it.

He sure did and thanks to Dr. Bardot for putting in his and DeBlasio’s head that the COVID-19 is nothing to be alarmed about. Trump listened to her, he’s the medical professional, she went to medical school, Trump didn’t.

-4 ( +0 / -4 )

In the US, firearms industry seems to enjoy an economic boom... sales go so high that it is even overwhelming FBI background checks :) Could it be able to drive the country out of the recession?

Other than economy, universal healthcare (a comeback chance for Sanders?) and China may become core agenda for the coming presidential race.

0 ( +0 / -0 )

He sure did and thanks to Dr. Bardot for putting in his and DeBlasio’s head that the COVID-19 is nothing to be alarmed about. Trump listened to her, he’s the medical professional, she went to medical school, Trump didn’t.

He’s the president. The buck stops with him.

He screwed it up. I wish conservatives would learn about taking responsibility.

3 ( +4 / -1 )

He’s the president. The buck stops with him. 

Not entirely. That depends, not when it comes to things where he relies on his expects, that’s the entire reason why you have cabinet experts and this woman flunked.

He screwed it up.

And he made up for it, he’s on steroids with this thing working it.

-5 ( +0 / -5 )

He’s the president. The buck stops with him. 

Not entirely. That depends, not when it comes to things where he relies on his expects, that’s the entire reason why you have cabinet experts and this woman flunked.

Yep, according to Trump supporters, "It depends" on whether there's a Dem or Repub in office - Dems are always to blame, Trump is never responsible or accountable. And they don't even think that's hypocritical...

He screwed it up.

And he made up for it, he’s on steroids with this thing working it.

Two admissions! He screwed it up and he's high on drugs!

That last one explains a lot...

3 ( +3 / -0 )

Unfortunately if you stop the vast majority of people from getting to their jobs, there's goes the economy

Japan's economy goes as the US economy goes, that is because they have 40% + of their money tied up in the US. Japan's economy is going down with the ship they staked their future on. This is what lack of leadership and forward thinking do to you.

The government should stop the trains immediately, provide aid to people immediately and lock down the country for April if they care about the economy.

The trains have coughing and gagging oyajis readin newspapers printed last night with no clue and no masks mark my work this virus is going to EXPLODE next week here or the week after.

Shoulder to shoulder people half wearing masks thinking they are too pure to catch a virus and clinging to their precious economy that is about to crumble. Recipe for disaster

-2 ( +0 / -2 )

The Spanish flu came back three years in a row. 

This isn't the Spanish flu.

0 ( +0 / -0 )

15-20% unemployment is coming to America. Those figures haven't happened since the 1930's.

1 ( +1 / -0 )

I don’t think libertarianism is going to save the world. This is a time when people are looking at governments and seeing which ones acted with competence.

Germany, Taiwan and South Korea have been praised for decisive action

Interestingly, none of those countries have had martial law style lockdowns. But we can agree to disagree on libertarianism. And we both agree that incompetent governments are a problem. I just believe that governments beyond certain sizes and limitations are inherently incompetent (and usually corrupt). As long as people expect governments to help, they will allow those same governments to grow and screw things up even more.

-1 ( +0 / -1 )

@bass4fAnd he made up for it, he’s on steroids with this thing working it.

On the 'world' page of today's JT there's an article about Trump contradicting his medical experts who are saying the US needs to do better at physical distancing. Leopards and spots. Trump's continuing his spoiled class 'I know more than the experts'.

3 ( +3 / -0 )

I just believe that governments beyond certain sizes and limitations are inherently incompetent

Why ‘inherently’ incompetent? Looking at this crisis, are the competent governments under that nebulous line of a ‘certain size’?

How would a country with a stripped down government and limited ability to mobilize resources react to a medical emergency like this?

Rely on the private sector to sort it?

none of these countries have had martial law style lockdowns

I think you’re splitting hairs here. Germany’s measures are pretty strict and states within Germany had different levels of severity.

3 ( +3 / -0 )

On the 'world' page of today's JT there's an article about Trump contradicting his medical experts who are saying the US needs to do better at physical distancing. Leopards and spots. Trump's continuing his spoiled class 'I know more than the experts'.

So what? You going to stop him from talking? No. Don’t listen if you don’t like it, but you’re not going to stop it, you know Trump speaks his mind. Follow Dr. Fauci and all will be well.

-4 ( +0 / -4 )

@bas4fDon’t listen if you don’t like it,

Trump supporters continue to lower the bar. 'Pay no attention to the man behind the curtain' is an admission by Trump supporters he's a huckster who should be ignored. Now the economy has tanked, what positives can they say about him.

2 ( +2 / -0 )

Libertarianism is a scam.

2 ( +3 / -1 )

How would a country with a stripped down government and limited ability to mobilize resources react to a medical emergency like this?

My allowing each area to make decisions for themselves. As it is almost everything has to be approved by Washington. Ikea is making face masks - not the government. All these resources are in the hands of the people originally - not the government. I just have confidence that smaller groups of people will work together - must be my faith in human nature.

All 3 governments you describe have real problems that could be alleviated by reducing government power/corruption.

Libertarianism is a scam.

Very well argued. With that overwhelming logic, I guess I will have to concede. Do you have a spare Bernie pin?

-2 ( +0 / -2 )

Trump supporters continue to lower the bar. 'Pay no attention to the man behind the curtain' is an admission by Trump supporters he's a huckster who should be ignored. Now the economy has tanked, what positives can they say about him.

It’s true! So what do you want? Impeach the guy for having an opinion? The economy is tanked because of this virus caused by China, not by Trump. Seriously, tune Beijing out for a moment.

-2 ( +0 / -2 )

My allowing each area to make decisions for themselves. As it is almost everything has to be approved by Washington

So how large and how much power should the governments in each area have? At what point do they reach the size of becoming ‘inherently incompetent’? My local government in the UK has been circus of incompetents but has improved in recent years. Maybe it’s size fell below the ‘certain size’ of ‘inherent incompetence’ but I don’t remember any layoffs or sackings.

Your argument here doesn’t seem to be a particularly libertarian one - it just seems to be shifting power over the people to local levels.

I just find libertarians tend to be very fuzzy in their definitions and what they actually believe.

2 ( +2 / -0 )

What we're being told and shown and having hammered into our collective psyches by way of a relentless media campaign to keep us transfixed upon this fear porn...There are things happening on the periphery that if ignored will prove to be far worse than the danger this pathogen poses .

Democracy is being abolished; rapidly and we are baying for it. Hungary has already become essentially a dictatorship, having granted its president full powers of decree along 5 year prison terms for anyone convicted of deviating from the official covid 19 narrative

Tony Blair has stated a one world government is needed to tackle this crisis....very ominous signs of Agenda 2030 being kicked into high gear...anyone who scoffed at the notions of NWO and one world govt may want to take pause and look at the pattern that is emerging...The Hegelian Dialectic has not outlived its usefulness. Lockdown and mandatory vaccination are the new buzzwords...Denmark has already committed to law the idea of forced medication for all its citizen and that is a precedent that WILL be followed. Virologists who are to contradict the MSM line on what a virus actually is are having their posts and video deleted....VIROLOGISTS! Not just regular people with opinions...The campaign to go cashless is almost certainly tagged and bagged now and all the Orwellian implications that brings will surely be something to warrant at least as much focus as this virus....There is a whole raft of paradigm shifting changes that were on the cards for many years, and that would have met huge opposition if pushed via regular political channels, but now all of a sudden they have been given a turbo-boost of epic proportions thanks to this "pandemic" People are dying of something...We have no way to verify what that is, but what it(s doing to the living is obscene! The vast majority of people are now demanding things they would rave rioted against a mere few months prior. Ordo Ab Chao... Welcome to the new world order.

-1 ( +1 / -2 )

My allowing each area to make decisions for themselves.

Then what's the point in having a country? Why not split up into separate countries and be truly independent?

Of course, then the counties would be complaining about state-level interference...

While the municipalities bemoaned their counties.

2 ( +2 / -0 )

The economy is tanked because of this virus caused by China

This is the American version of the CPP claiming that the virus was a CIA false flag.

2 ( +2 / -0 )

Your argument here doesn’t seem to be a particularly libertarian one - it just seems to be shifting power over the people to local levels.

I don't think I have ever referred to myself as a libertarian. I agree with a lot of libertarian and even anarchist ideas. A few governments seem to work pretty well (e.g. Switzerland - though the Orson Welles Cuckoo Clock speech in the Third Man comes to mind...). I do recognize the need for government, but limited and decentralized - keeps it accountable and limits corruption. The whole idea of people always expecting the government to solve every problem bothers me. It enables corruption and saps individual initiative and community efforts. Especially when the government tries to manipulate economic activity.

-2 ( +0 / -2 )

Tony Blair has stated a one world government is needed to tackle this crisis....very ominous signs of Agenda 2030 being kicked into high gear...anyone who scoffed at the notions of NWO and one world govt may want to take pause and look at the pattern that is emerging...The Hegelian Dialectic has not outlived its usefulness. Lockdown and mandatory vaccination are the new buzzwords...Denmark has already committed to law the idea of forced medication for all its citizen and that is a precedent that WILL be followed. Virologists who are to contradict the MSM line on what a virus actually is are having their posts and video deleted....VIROLOGISTS! Not just regular people with opinions...The campaign to go cashless is almost certainly tagged and bagged now and all the Orwellian implications that brings will surely be something to warrant at least as much focus as this virus....There is a whole raft of paradigm shifting changes that were on the cards for many years, and that would have met huge opposition if pushed via regular political channels, but now all of a sudden they have been given a turbo-boost of epic proportions thanks to this "pandemic" People are dying of something...We have no way to verify what that is, but what it(s doing to the living is obscene! The vast majority of people are now demanding things they would rave rioted against a mere few months prior. Ordo Ab Chao... Welcome to the new world order.

The anti-vaccine crowd are quick off the mark. We haven’t even got one yet.

2 ( +2 / -0 )

Donny bears responsibility for the economy tanking because he didn’t take the virus serious at first and continues to contradict the experts, which further harms the economy.

0 ( +1 / -1 )

And he made up for it, he’s on steroids with this thing working it.

@bass -I've got to give you some credit for accepting and even making some criticism of Trump.

But you do give him something of a get out of jail free card. While the head cannot be responsible for the actions of his appointees, the boss sets the tone at the top. Problems in the ranks can often be traced to the head. A fish always rots from the head.

Trump likes yes men and sycophants. He also hears what he wants to hear.

“People are really surprised I understand this stuff,” he said. “Every one of these doctors said, ‘How do you know so much about this?’ Maybe I have a natural ability.”

He suffers from over-confidence, narcissism and some self-delusion. He stated that he had been talking to lots of doctors, not just two.

It was also clear to someone who isn't an expert as to how many could be infected using a simple compounding equation.

1 ( +1 / -0 )

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