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When a black swan flies
over a house of cards: The Coronavirus &
global collapse
By Jerry Kroth
February 07, 2020 "Information
Clearing House" - It looks
like a very rare bird finally landed on our planet.
Moody’s Analytics called the coronavirus “a Black
Swan like no other.” [1] Ditto for Anthony Fauci,
Director of the National Institute of Allergy and
Infectious Diseases, who says, “It’s very, very
transmissible, and it almost certainly is going to
be a pandemic.” [2]
One respected Wall Street analyst said the disease
will impact both global supply and demand and
ultimately “paralyze China.” [3]
But Wall Street shrugged off these prognostications
and is in such a mania of late, it managed to
convince itself—on almost no evidence at all— that
the virus is curable. Not only has it discounted the
pandemic, but its ditzy moods pushed markets to all
time highs as if to show its scorn for any intrusion
sanity which might otherwise interrupt the frenzy.
Stephen Roach, former Morgan Stanley chief
economist, says Wall Street’s mania is ludicrous:
“This is a market where if you declared it was World
War III, they would rally on reconstruction!” [4]
Tesla doubled in value in less than a month. Nothing
seems to temper the delirium.
But Frances Collins, NIH Director, says this disease
is serious and transmissibility is incredible. One
person was infected after only 15 seconds of
exposure —and that was at a distance. [5]
The fact is this disease is only in its incipient
stages, its transmissibility is horrific, and
frankly we haven’t seen anything yet.
So let us dig down into some of the implications.
Take a look for a moment at the house of cards—that
is the world economy— over which this black swan is
flying. It sits upon a foundation of an unimaginable
$253 trillion in debt, something the IMF repeatedly
has warned is excessive and egregious. [6] |
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