New York City is Now Epicenter of Coronavirus COVID-19 Outbreak in the USA
Prince Charles Infected with Coronavirus COVID-19
Prince Charles contracted Coronavirus COVID-19

Prince Charles and British Prime Minister Boris Johnson Tested Positive for Coronavirus COVID-19

British Prime Minister Boris Johnson Tested Positive for Coronavirus COVID-19
Boris Johnson, UK Prime Minister Infected with COVID-19

Prince Charles and British Prime Minister Boris Johnson Tested Positive for Coronavirus COVID-19

By Glenford S Robinson

Malaria Drug Hydrochloroquine and Aids Drug Kaletra Found to be Effective Treatments Against the Coronavirus

Will the Coronavirus Cause a Stock Market Crash, like 2008?

Prince Charles and British Prime Minister, Boris Johnson have both contracted the Coronavirus COVID-19. This all happened as a result of the two not fully understanding how to protect themselves from this deadly virus. They did not wear a face mask covering their eyes, nose, and mouth and probably shook infected hands. It could’ve been one of three ways in which these two prominent people got infected. The three ways could’ve been direct contact by directly touching an infected person, indirect contact by an infected person sneezing or coughing 6 inches or less away from them, and touching contaminated objects in the immediate vicinity of aerosol droplets released by an infected person, through a cough or a sneeze.

Wearing a mass covering only the nose and mouth alone does not prevent infection of the Coronavirus COVID-19. The reason why wearing only a mass covering the nose and mouth does not prevent infection is because infections occur through the eyes also. Therefore, unless you are wearing a face shield that covers your entire face, including eyes, nose and mouth, you are not protected.

This is why so many healthcare workers, such as doctors and nurses are infected, even though they were wearing a mass when infection occurred. The eyes, nose and mouth consist of mucous membranes lined with ACE2 receptors. COVID-19 binds to these ACE2 receptors in the mucous membranes and enters cells.

At least, there are some good news of people beating this disease. Tom Hanks and his wife Rita Wilson have both recovered from COVID-19 infection. Both were released from the hospital after testing positive for the coronavirus COVID-19 two weeks ago, while in Australia. Son, Chet Hanks posted a video on Instagram stating that mom and dad were doing well. This is what he said:

Drug Repurposing could be the saving grace for Coronavirus COVID-19 Sufferers. The Malaria drug Chloroquine and the HIV drug Kaletra effectively treat COVID-19 patients, according to credible medical research sources. This will definitely buy valuable time needed to develop a vaccine, which could take anywhere from 10 to 15 years, according to South Korea’s leading expert on COVID-19.

Doctors currently use Hydrochloroquine and Kaletra to treat critically ill COVID-19-infected patients. COVID-19 experts in South Korea currently uses the Ebola drug remdesivir to conduct clinical trials in patients with COVID-19 infection, in the hopes of finding another weapon against the rapidly spreading coronavirus. South Korea leads the world in having the lowest number of COVID-19 infection cases. The reason for this is because they gained a lot of experience from MERS and possibly the swine flu.

The busiest city in the world finds itself on lockdown. New York City, the Financial Capital of the world is now a ghost town. No one around, no yellow cab taxi, no uber; but ironically, a man spotted riding a bicycle in the middle of West 27 street, what used to be a very busy street, in the heart of New York City. On closer examination of the photo, it seems as if the man is a peace officer or a security guard, task with keeping the streets of New York City free of pedestrians. New York City is the epicenter of the coronavirus COVID-19 outbreak and Europe is the epicenter of the world. So, what happened to China? China is no longer the epicenter of the Coronavirus outbreak. In fact, the number of coronavirus infections in Italy far outnumber that of China. Why is this so? We will talk about this later. 

The Coronavirus has put the entire world on lockdown. In my country of Jamaica, the government ordered the power washing and disinfecting of sidewalks and street corners where many people normally gather; the government ordered closings of schools and universities. One party planner decided to test the Jamaican government’s authority by having a big dance party at his bar, but that didn’t go too well after peace officers “mashup de dance” and threw the promotor in jail for violating the country’s coronavirus law of social distancing. In Haiti, my wife’s country, police interrupted a hallelujah session and threatened the perpetrators with arrest warrants. The world is definitely uneasy, right now.

Many companies, such as mall brands like Urban Outfitters and Nike are scaling back or temporarily closing their doors; people are getting laid off from work; the airline industry is currently in dire need of bailout money. This is like 2008 all over again when general motors needed to be bailed out by the government, but luckily, this time is different. This time the economic crisis is caused by a virus, not financial miscalculations. And it is for this reason and this reason only, why we won’t have a sustained economic crash; we will have a temporary one, which would be unavoidable. It will just be a consequence of emergency monetary policies employed by the federal reserve such as, stimulus packages.

The US economy will undoubtedly enter into a temporary recession, but again, this recession will not be a result of the economy becoming weak on its own. The current weakness is a direct consequence of people staying home to fight the spread of COVID-19 and businesses choosing close in order to reduce the concentration of people in close proximity to each other. Therefore, the economy cannot be blamed for any slow growth that will ensue in coming quarters, such as inevitable reduction in economic growth and GDP.

On Friday, March 27, in the afternoon hours, President Donald Trump signed into law a $2 trillion stimulus package, the largest in history as the American public and the US economy fight the rapid and devastating spread of COVID-19. The stimulus package represents a massive injection of cash into the financial system with plans aimed at helping American workers, small businesses and industries struggling with the current economic disruption.

This coronavirus outbreak should teach us a lesson about not solely depending on a job to provide for our family. So, what if that job is forced to close its doors; Ah! “I will get another job somewhere else!” Not so fast, brother! There is no guarantee that you will ever get another job. How are you making yourself more resourceful? Answer that? An unemployment check if you are lucky to get approved, cannot pay all your bills. And what will happened if you don’t get a job before your unemployment benefits run out? What will you do then?

Make yourself more valuable and resourceful. Don’t always depend on the government to help you. Don’t blame others for your misfortune. Don’t blame your boss for your short comings. You should blame yourself for not doing what it takes to become self-reliant and resourceful. You should lace up your boots and learn how to make money work for you, instead of always working for money and stressing your boss for a raise. How do I learn how to make money work for me? Hm! Trick Question!

How about Financial Markets and the U.S. economy, in light of the coronavirus outbreak? Well, as expected, the unemployment numbers came in below expectation. The weekly Initial Jobless Claims Report came in at 281,000, missing forecasts of 220,000 and the previous week’s reading of 211,000.

The Initial Jobless Claims Report measures changes in the total number of people filing for unemployment insurance for the first time in the past week. This represents the earliest U.S. economic data, although the impact on financial markets varies from week to week. This week the Report may affect the market greatly, but next week its impact might be nonexistent. This week’s Initial Jobless Claims Report directly reflects to the current COVID-19 disruption of the U.S. economy.

A higher than expected reading should be perceived as negative for the U.S. economy and bearish for the USD, while a lower than expected reading should be perceived as positive for the U.S. economy and bullish for the USD. A little note to traders in the Forex Market, the USD did take a beating for six straight days by other major currencies. The U.S. Department of Labor released the Initial Jobless Claims Report on Thursday, March 19, 2020 at 8:30 AM, New York Time.

With the Initial Jobless Claims Report coming in below expectation, so should the Core Retail Sales Report because unemployed people don’t have money to buy retail items and even if they did, retail stores are closed, as a result of the Coronavirus COVID-19 outbreak. On Tuesday, March 17, 2020 at 8:30 AM, the Core Retail Sales for February came in at -0.4%, missing forecasts of 0.2% and the previous month’s reading of 0.6%. Core Retail Sales Measures changes in the total value of sales at the retail level in the U.S., excluding automobiles. The Retail Sales Report directly measures consumer spending and pace of the U.S. economy.

A higher than expected reading should be perceived as positive for the U.S. economy and bullish for the USD, while a lower than expected reading should be perceived as negative for the U.S. economy and bearish for the USD. The U.S. Census Bureau released the Core Retail Sales Report.

How has the housing industry faired in these treacherous times? Let’s find out! The Housing Starts numbers came in less than desirable, but that is to be expected based on seasonal changes and possible coronavirus fears. The month-over-month for February came in at -1.5%, missing the previous month’s reading of 1.4%.  The Housing Starts Report measures changes in the total number of new constructions underway.

The Housing Starts Report is a leading economic indicator because the construction industry is usually the first to go into a recession when economic growth declines and the first to recover when conditions improve. A higher than expected reading should be perceived as positive for the U.S. economy and bullish for the USD, while a lower than expected reading should be perceived as negative for U.S. economy and bearish for the USD.

Seasonal changes and possibly coronavirus fears may have caused the decline in construction activities reflected in the Housing Starts Report. The U.S. Department of Commerce released the Housing Starts Report on Wednesday, March 18, 2020 at 8:30 AM, New York Time.

The Building Permits Report like the Housing Starts Report also came in less than expected, posting a 1.464 million building permits issued by the government, missing expectation of 1.500 million and last month’s reading of 1.550 million permits issued. The Building Permits Report measures changes in the number of new building permits issued by the government and acts as a key indicator of demand in the housing market. Hopefully now that the Federal Reserve has slashed interest rates to all-time lows of 0-0.25%, home builders can now get cheap money from banks who will soon be begging creditors to take their low interest rate loans.

A higher than expected reading of the Building Permits Report should be perceived as positive for the U.S. economy and bullish for the USD, while a lower than expected reading should be perceived as negative for the U.S. economy and bearish for the USD. The U.S. Census Bureau release the Building Permits Report on Wednesday, March 18, 2020 at 8:30 AM, New York Time.

Housing Developers slowed down their construction activities for the time being, but how about those homes that have been built already? Will the Existing Home Sales Report suffer the same faith as did the Housing Starts and Building Permits Report? Let’s find out!

Existing home sales picked up; well, of course, interest rates are at all-time lows. Anybody can buy a house now. All they have to have is a decent credit score. The Existing Home Sales Report came in at 5.77 million beating estimates of 5.50 million and a previous reading of 5.42 million.  The Existing Home Sales Report measures changes in the total annualized number of existing residential buildings that were sold during the previous month.

This report functions as a tester for testing the strength of the U.S. housing market and therefore serves as a key indicator of overall economic strength. Therefore, this further prove that the U.S. economy is not really weak; instead, the economy is just suffering from the consequence of fighting off a coronavirus COVID-19 pandemic, one never been seen before in recorded history.

A higher than expected reading of the Existing Home Sales Report should be perceived as positive for the U.S. economy and bullish for the USD, while a lower than expected reading should be perceived as negative for the U.S. economy and bearish for the USD.

U.S. GDP growth numbers for the fourth quarter came in at 2.1%, the same as in the third quarter. Things won’t be any better moving forward, considering the onslaught COVID-19 is unleashing on the U.S. economy and the Global economy for that matter. It may take a full year for the economy to fully recover from such destruction caused by the coronavirus of 2019. Let’s keep our fingers crossed and hope for the best.

We can conclude that the coronavirus COVID-19 will not cause a stock market crash the same as 2008 because the problem is not with the economy; instead, the recent economic and stock market crash clearly came from the consequence of fighting off the coronavirus COVID-19. So, this economic crisis will be short-lived as soon as the rapid spread of COVID-19 is brought under control.

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