quarantine
What A New Lock-Down Would Mean For Workers.
As we enter this last month of the year, it is apparent that 2020 will go in the record books as the best, and the worst of years for the American Working Man and Women. We began the year with record employment. 152 million Americans had jobs, and the unemployment rate had dropped to an all time low of just 3.8%. But all of that good news rapidly changed with the onset of the Covid-19 Pandemic. Americans were told to stay home, in an effort to self quarantine. Non-essential businesses were closed, while those businesses which were still allowed to operate, could only do so many time under strict restrictions. Restrictions such as social distancing, the wearing of masks, and limitations on the number of customers allowed to enter a store, office building or other establishment.
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Fear Versus Risk
Fear is an unreasonable emotion. That once it has you in its grip, can control all of your actions and responses. Risk on the other hand, is the measure of a hazard or loss. These two are as different as night and day. Although they both try to assess the potential downside of any event, one uses our rational thought and control, while the other uses just blind emotion. And ultimately leads us to become out of control, reacting in a manner that really makes no sense, and in fact can do great harm to ourselves. As a nation, our reaction to the corona virus, is threatening to move from a rational risk based response, to the pure emotion of fear.
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This Ain't Your Granddad's '87
The Crash of 1987, was a unique time in financial history. For anyone who live through the 87 Crash, you'll remember it as a dark time, when markets simply imploded. The market infrastructure at the time, simply couldn't keep up with the avalanche of sell orders. Wave after wave of unrelenting liquidations were thrown at us. And those of us on the trading desks, simply couldn't keep up. An investor might enter an order in the morning, and not to receive a report until later than night. 12 hours latter. It was bad.
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Coronavirus Impact? Look To Second Order Reactions.
It's the governments and authorities which will control the full impact of the Coronavirus.
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