This new virus is called severe acute respiratory syndrome coronavirus 2, or Sars-CoV-2. The disease it causes is called Covid-19. Source: Wall Street Journal. This is a serious disease – “a potential pandemic.” They think it originated in a (animal) market in Wuhan, China, on December 1, 2019. As of March 3, 2020, the WHO reports that there are 92,315 confirmed cases – 3,131 deaths; 60 cases in the US and 6 deaths.
The WHO and the CDC are monitoring the disease very closely, and they are taking measures to minimize the spread of the disease – no thanks to President Trump and Vice President Mike Pence, his appointed “White House coronavirus response coordinator.” Source: Politico.com
Countries like China (Wuhan specifically) have been shut down; affecting the global economy. Hong Kong, Italy, Spain, South Korean, Japan, and Iran have also been hit hard. There’s talk of a global recession if this goes on for too much longer. (President Trump says it will be over by April, because of the warmer weather.)
A big health concern is the massing of people: any place or event where people gather is considered dangerous. The Summer Olympics, scheduled to open in Tokyo, Japan, on July 24, are in danger of being cancelled – or at best delayed for months. “March Madness” basketball tournaments might be played without fans. The Major League Baseball Opening Day is scheduled for March 26; they’re monitoring the situation.
Last week the WHO declared COVID-19 is a pandemic. Things are getting worse in the United States. Tomorrow, we’re starting to work from home and shelter-in-place for at least 1 week and possibly up to 8 weeks. It is already affecting the US economy, and we are looking at a global recession. Mnuchin dropped the “we could reach 20% unemployment” bomb, and the Fed cut rates to 0.0%. Smaller restaurants and retail shops in my town – and every city and town – are closing; health departments are mandating bars & restaurants close dining rooms. Some restaurants are adjusting – drive through only, curbside delivery, home delivery, etc.
As of now there have been 1,076,017 cases worldwide and 58,004 deaths; 5,368 cases in Texas and 93 deaths. We’ve been ordered to continue to shelter-in-place until April 30.
Many States have postponed their Primaries until Summer. The 2020 Summer Olympics have been postponed until July 2021.