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IPFS News Link • General Opinion

Blain: This Crisis Isn't About The Wuhan Flu... It's Much More

• https://www.zerohedge.com by Bill Blain

A week ago on Monday morning I was furiously trying to get up to London, delayed yet again – because of a tree on the line. It was worth it as we went out for a proper lunch to celebrate a colleague's birthday. Shades of August 1914?

Since then the world has changed, and changed utterly. I'm unlikely to see the office again for a long while. The Wuhan Flu has come out of nowhere as the ultimate No-See-Um.  It's closed commerce, overturned markets, destabilised expectations and effectively stopped society in its tracks. Its scale is unprecedented. Yet, it's something we always knew likely, even inevitable. The experts warned it was just a matter of time, but we pretty much ignored them. Apparently, the numbers the WHO use show: "a severe pandemic is expected to occur ever 63 years."

The immediate prospects for markets look bleak. As politicians bicker, we're still waiting for clarity from governments on rescue packages, for further central bank liquidity programmes and more rescues – all actions designed to stem the overwhelming sense of imminent disaster. Some pundits think another raft of government bailouts and supports, plus more rate cuts, QE infinity and even direct buying of the underlying stock markets could still create a rally and take markets back up. 


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