Stop the Panic!
The 2019-2020 Flu Season includes a mutation of the H1N1 virus that infected 50,000,000 and killed 18,000 Americans in 2009. This is only one of the viruses that we are combating in the 2019-2020 flu season. Our current 2019-20 flu has infected between 36,000,000 to 51,000,000 Americans, hospitalized between 370,000-670,000 Americans, and has killed 22,000-55,000 Americans. Our current flu season is also being challenged with the new Coronavirus that is causing worldwide panic. So far, the current Coronavirus (Covid-19), has infected 4,392 Americans that we have confirmed, and killed 75 Americans. Worldwide, the Coronavirus has infected an estimated 181,305 and killed 7,116 people. Does this mean that we could not see much higher infections and death. Sure. But that outcome at this point is not likely.
Before you heard about the Coronavirus, did you go out and buy up as much toilet paper that you could get your hands on? Did the stock market drop 7,000 points? Did anyone ask whether there was a test available for all Americans to see if they had the flu? Did anyone ask if we have enough respirators and other medical devices to support the 36-51,000,000 infections? Did anyone close schools, restaurants, bars, air travel, or quarantine tens of thousands of Americans? The answer is No!
Does that mean that we should not be taking every step possible to stop the spread of this new virus. Absolutely not. We should take all precautions that we can especially since the Coronavirus attacks our most vulnerable senior citizens and immune challenged individuals.
BUT WE SHOULD STOP THE PANIC!
If you go to the grocery store to stock up, buy a week’s supply or whatever you normally buy. No one is closing or even suggesting closing grocery stores. Stop creating shortages as you are merely adding to the panic. The stock market will do what it does. STOP WATCHING THE MARKET. If you have been in the market prior to the current downturn, sit tight. If you need cash now, look for other alternatives. By selling now versus when the market was at 29,000 you could incur what would be like a 25% interest hit for selling.
We will continue to update our Coronavirus coverage. For now, stay as calm as possible. This will pass and given that we are close to Spring warming and we have taken unprecedented measures to mitigate the impact of this virus, we should see a substantial abatement by May or June. Vaccines are already being tested and antivirals are not far off. This is the first time that we have both everyone in the private sector as well as the government working to stop this crisis.