March 09, 2020
Is The Coronavirus Really More Dangerous Than The Flu?
Today the financial markets
finally recognized the economic damage the novel Coronavirus will cause.
The
price war in the crude oil markets which Russia initiated did not cause today's stock market fall but it also did not help. While cheap oil is supposed to be good for the economy the drop will also cause significant damage in the U.S. financial markets as the whole fracking industry in the United States is laden with debt and is now destined to be wiped out. Expect crude prices to sink to $20 per barrel as frantic overproduction and a drop in demand due to the virus coincide. Russia is
well positioned to
win this price war. Others are not.
It is the virus pandemic that causes the downturn in stock markets. But what makes the Sars-CoV-2 virus, as the novel Coronavirus is now officially known, so dangerous? The Covid-19 disease the virus causes is basically a flu though its seems to be one of the more severe kinds.
But it is a totally NEW kind of flu and that makes all the difference.
Each year some 15% of the world population will be infected with one or more of the dozens of flu viruses we know. The people get ill and most will recover while they also develop some immunity against the specific virus they were infected with. Over the years this sums up to a basic immunity level within our societies. So many people already had a flu from the well known viruses that most of them will not get infected during another flu season. We have also developed vaccines against the most well known viruses. They help to keep the people who work in health care on their job even when many new flu patients come in.
But when a new viruses evolves everything is different. Our societies do not have a basic immunity against a new virus. Without countermeasures many more people will get sick during the first, second and third wave of a new virus onslaught than during a normal flu season. Health care staff will also get infected and must quarantine itself. Some health care workers
will probably die. Hospitals will become overwhelmed and the health care system will break down just as it did in Wuhan, China. The breakdown of the health care system also leads to a much larger number of virus death than under a working health care system.
Here is a surgeon in Bergamo, Italy,
describing such a situation:
Cont. reading: Is The Coronavirus Really More Dangerous Than The Flu? Posted by b at
17:54 UTC |
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Topic: Coronavirus - Chinese villages barricading themselves inside (Read 8769 times)