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Covid-19
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Thanks for sharing your point of view, Tex. The economy is also a very valid concern right now. Unlike some sensationalist sources may have you believe, we are not on the verge of an economic collapse due to the virus, quarantines enforced or not. The economy will recover and hopefully we will all learn some lessons from this going forward.
For your point on those nearing or already at retirement age, this is why financial advisors recommend having a higher percentage of bonds and stable investments for those people as opposed to the portfolio of a 22-year old, which is generally recommended to be 80+% equities. If you’ve looked at a target-date fund for 2025 vs 2060, you’ll see a much higher percentage of bonds in the 2025 fund to hedge against a market crash right before retirement. I don’t want to seem rude, but if you’re nearing or at retirement age and your portfolio has 80+% stocks, you’ve really all but done this to yourself. A market crash will not affect a properly allocated portfolio nearly as much as an improperly allocated one. Eventually, the market will go back up and the money will be back. It’s important to not sell stocks now if you can swing that and still survive. Take from bond holdings if you can.
Not directed at you Tex, but I also need to say this:
Obviously in my previous posts I haven’t been able to completely keep my cool and have said some things I probably should not have. For that I do apologize, but seeing misinformation being spread that could seriously jeopardize the lives of others really works me up. If one wants to not take this seriously because of the media or some conspiracy or whatever that’s one thing, but when your words and actions affect not only yourself but also others that could be at a higher risk, that’s just plain wrong and needs to be called out. The mentality of “It won’t kill me so who cares if I get infected” won’t kill you, but it could very well kill someone you care about. I know I have parents and grandparents that I love very much, and this is a danger moreso to them than myself. That’s why I take this so seriously.
/textwall
Talk about misinformation
The vast majority of Australia’s 120 cases were people who recently traveled overseas. They have a very small percentage of cases involving community transmission. So incorrect. Australi is not a model showing this is a warm weather contagion.
@Bankwalker Once again, you’re really not worth the time, but here goes nothing. The source claiming 1 in 10 requires ICU comes from medical professionals in EUROPE. Places that are currently testing much more than the UNITED STATES, shown by the chart from the CDC that I also provided. Please actually read and digest the information provided before posting in the future.
Has anybody shown if the Covid test shows false positives? We know you can get a false positive from the flu test. I'm curious at how many of the Covid test might show false positive.
Also, if I'm not panicking about this virus, I'm now callous? I'm not panicking and I don't think I'm callous. I'm being very cautious and doing my part to make sure I don't get the virus as I'm sure most Americans are but I refuse to let the media tell me I should be scared to death. It's a good thing we don't panic over the flu season every year since more people have died from that.
Australia is experiencing community transmission of SARS-COV-2. Stick to bartending.
This is a really long-winded way of saying, “I don’t trust the opinions of healthcare professionals and I know way better than them”
Sounds like anti-vax rhetoric to me
The type of test done for COVID has a very small chance of false positives. It's very sensitive
Thanks. I haven't heard or read anything about it and was wondering. I'm still not going to panic but I will continue to be cautious. That's really the best any of us can do.
You're exactly right. Calm but cautious
But aren't we prepared for the yearly flu in ways we aren't prepared for this? We've got mountains of historical data to look at and a good sense of how the regular flu will impact populations. We don't freak out about that because it's predictable.
Your brilliance is just really astounding. You know more about everything than the know it all who got banned for knowing everything
What does this prove? The article states there was community transmission but it was contained. Are you ok?
I think I'm catching the virus from reading this thread. Do we know if it can be spread through e-communications? 😷
I’m a financial planner. While you’re right about the markets, I would argue that if this is really hurting people at retirement age, then they were very poorly advised about their portfolio construction. Unfortunately, after a 10 year bear market, many are probably far too aggressively allocated towards stocks.
IMO, the answer to the health problem is a full on quarantine/containment/mitigation strategy. The obvious problem with that solution is what you alluded to: economic devastation. No good answers available.
Also, because this seems to have at least a factor of 10X greater fatality risk than the flu, it can’t be as easily ignored as we often do with the flu. I’m 52 and healthy with high school kids. On paper, none of us is at any risk. Unfortunately, my father in law is 77 with COPD. Would hate to be a carrier to him.
The media is overhyping this - as they do everything. Remember the days before 24 hr news? Healthier times IMO regardless of one’s political affiliation.
I hope everyone on this board follows the science and not their favorite pundits (regardless of politics).
I believe it is most deadly on football forums, Twitter, etc.
Umm...some of y'all are apparently unaware of why the flu and coronavirus are different. I guess they legit don't show Italy on Fox News. The quarantines over there aren't the story. It's the way the hospital systems are overwhelmed. The flu season is over a # of months...so people trickle in to Dr..ERs..etc. The people who ARE seriously affected are put in intensive care. Some still die with this specialized care.
In an outbreak where there's 100s or 1000s coming into the same hospitals there isn't that luxury. Not enough beds, DRs, nurses, meds. There's hospitals in Italy already where Drs are having to triage between who is worth trying to save by putting on a respirator and who's a lost cause.
I'm also amazed that none of y'all know a single person who is elderly or might have underlying health issues that increase risk...for instance diabetes. Guess I'm the only one worried about friends and relatives. Oh, and if you're young and healthy and only feel like you have a mild cold so can't be bothered to stay home, you'll be fully capable of spreading it to those who ARE at risk.
I felt the same way until I listened to Joe Rogan’s Latest podcast with Michael Osterholm. Changed my tune real quick. Not so much about death but about supply chains being disrupted due to quarantine and sickness etc..
I agree with that. All this self-quarantine and hyper-precautious nonsense, pushed by the media and peer-pressure, will cause much more damage than the virus itself. That part is self-induced damage due to sensationalism. People are going to get sick...that can not be stopped. But nobody wants to be the organization that "forced" its employees or students to show up and someone go sick. I guarantee people will start throwing around lawsuits if they get sick. "My company made me go to work, and I got the Coronavirus..."...that would be an HR nightmare.
But we aren't talking about SARS, we are talking about Corona-virus. While you are correct (i think) in saying it's somewhat related to that virus, you would be incorrect in assuming it follow the same seasonal patterns. It's still to early to know if will or not. If what @Bankwalker said about Australia isn't seeing a lot of person to person transmission within the country, I'd say that's a great sign. Especially for America which is about to hit spring.
This thread has seemed to turn into the optimists vs the pessimists. With everyone being both right and wrong. I have assumptions about what will happen, but I really don't know for sure. Since many people in china got it and survived I'm leaning toward the optimist side that things will be ok. Does that mean carry on as if nothing happened? No, of course you should take extra precautions for you and your loved ones.
Does the media control China, Italy, the rest of Europe, australia, South Korea, the WHO, and the CDC? Just how far does this conspiracy go? What purpose does it serve?