When Isaac Newton stayed at home to avoid the 1665 plague, he discovered the laws of gravity, optics and he invented calculus. And with that in mind here’s your update for the week.
Globally we’re at 1,268,632 confirmed cases, 69,181 people have died. The virus has taken more lives than 9/11 in the US. I keep seeing another 500 people have died daily in French news, where it’s at almost 90,000 cases. With 7500 deceased. The TGV (French’s fast train) has been converted to ferry ICU patients around the country to spread the load. The French government also rescued some 280 of its citizens from Gao in India, where the normally very nice locals have turned on foreigners almost overnight accusing them of spreading the virus, and foreigners have been asked to leave the hotels immediately and they had to go into hiding.
Locally, social distancing is having an effect, we’re looking a lot flatter. That doesn’t mean we will be back in the office any time soon, the moment we all don’t take precautionary measures I’m sure it will spike up again. Flying overseas will be like this in 6 months
VIC is over 1100 cases now
Where did people from VIC get it from? Overseas mainly. Note: ‘known contact’ means you had contact with someone you know. Friends, family, colleagues.
If the source is overseas, then the top destination you would have got it from (in order) is 1. USA, 2. UK, 3. Iran, 4 Italy, 5 China (wuhan)
If you get tested, you have about a 2% of returning positive. The fact that NSW has more people with the virus might be because they have conducted more tests compared to VIC.
As we enter this new stage. Supermarkets limit the amount of people in the stores, so you will have to line up outside.
If you go kiteboarding, you could end up like this guy who was arrested for paddle boarding in the US.
Parents teach their children to cover their mouths when sneezing or coughing. Instinct and culture have embedded wisdom far beyond bureaucrats. Wear a mask when you go out! This is what airflow around a mask looks like. Obviously the following are not good examples:
Markets
If putting 6 trillion of new printed money into the economy is good, why isn’t putting in 12 trillion twice as good? If it works during bad times, why doesn’t it work even better during good times?
Feds are essentially announced they are nationalising the markets. With the federal bank committed to infinite money printing, that means that the S&P 500, the bond market, could all be taken private. It will no longer be publicly traded. What’s left is it the penny stock junk bond market for idiots and casino gamblers.
Imagine if you could spend more than you make and then edit the amount of money in your bank account whenever you wanted? That’s what the government does.
This is an interesting chart of US unemployment.
If the candles on the charts look different today it’s because I’ve gone to a weekly view to see longer term trends.
ASX 200
Recover a little back to 5067.5 last week, but obviously no where near pre virus level.
S&P 500
Still down.
AUDUSD
Back below 0.60 cent, the exchange rate is being sacrificed in order to save the financial system since we have a huge debt bubble and a lot of the debt we have is sourced from overseas
Oil
Oil is back up to 28 USD a barrel. I would still fill up if you find petrol prices close to the $1.20 or below. NSW has seen petrol at below 1 dollar in places.
Bitcoin
Trading around 6800 USD. You can check other stats here