Posted 3/21/2020 10:43 (#8125361) Subject: We are seeing classic market behavior
Classic herd behavior with out response to the Wuhan virus.. No one really knows whether it is justified or not as of yet, IMHO. For those of us who have tried to study the markets for a very long time, it seems obvious. Here is an interesting bit of news this that recently came out from Italy:
"The new study could provide insight into why Italy’s death rate, at about 8% of total infected people, is higher than in other countries.
"The Rome-based institute has examined medical records of about 18% of the country’s coronavirus fatalities, finding that just three victims, or 0.8% of the total, had no previous pathology. Almost half of the victims suffered from at least three prior illnesses and about a fourth had either one or two previous conditions.
"More than 75% had high blood pressure, about 35% had diabetes and a third suffered from heart disease."
The site has a couple of simple good charts.
I guess what bothers me most is this panic has the potential to shut down the world economy and usher in a world-wide depression. If my dad was still alive, he would be shaking his head and scared to death of where we seem to be heading.