It was announced that British PM Boris Johnson has tested positive for Coronavirus. The Prime Minister said he had a fever and persistent cough and was currently self isolating in Downing Street. He assured the British people his symptoms were mild and he was continuing with the job of running the nation. The country’s Health Secretary is also ill with the virus.
Prince Charles, the heir to the throne is also suffering from Coronavirus it was announced. The 71 Prince tested positive earlier this week. He is said to have mild symptoms and is staying the the Queen’s Scottish Highland estate of Balmoral.
Trish Regan primetime host a Fox Business Network has abruptly left the network. Her departure comes after she suggested the Chinese coronavirus could lead to another attempt to impeach Trump.
“We thank her for her contributions to the network over the years and wish her continued success in her future endeavors,” a Fox Business Network spokesperson said in a statement. “We will continue our reduced live primetime schedule for the foreseeable future in an effort to allocate staff resources to continuous breaking news coverage on the Coronavirus crisis.”
Regan met with criticism when she hosted a segment accusing the Democrat Party and the corporate media of carrying out a “Coronavirus Impeachment Scam.” She said to her viewers:
“We’ve reached a tipping point. The chorus of hate being leveled at the president is nearing a crescendo as Democrats blame him and only him for a virus that originated halfway around the world,…. This is yet another attempt to impeach the president.”
“Many in the liberal media using, and I mean using, coronavirus in an attempt to demonize and destroy the president,” she added.
As global demand for oil has suddenly halted oil produces have seen prices drop. This could result in producers not having places to put their oil. If the current situation continues production will need to be cut by June.
Reduction in demand could halt production in other sectors and trigger recession.
The Feds balance sheet has topped $5 trillion this week as it scooped up bonds and extended loans to banks, mutual funds and other central banks. This is an attempt to sure up the U.S. economy against the financial fall out of the Coronavirus.
This week the Fed Chairman said they were ready to lend “aggressively” to stop the pandemic’s damage to the economy.
The President has written to governors in every local region to put forward guidelines to help each county access the risk of Coronavirus for them. The President is keen to enable low risk regions of the country to operate with less strict restrictions, as soon as possible.
“This is what we envision: Our expanded testing capabilities will quickly enable us to publish criteria, developed in close coordination with the Nation’s public health officials and scientists to help classify counties with respect to continued risks posed by the virus,” Trump wrote.
Each county would be given a federal category: “high risk”, “medium risk” or “low risk”. The categories would be given after all the data for these regions was accessed.
“I want to thank each of you, along with your frontline responders and essential workers, for stepping up to help America confront this unprecedented global pandemic,” Trump wrote.
In the weeks and months leading up to the stock market crash hundreds of CEOs resigned. Fortune magazine described it as the “great CEO exodus of 2020”. CEOs sold of billions of dollars of stock in their own companies just before the share prices sky dived.
At the end of last year a record number of 1,480 CEOs left their posts. This would not be unusual during a recession, but almost unheard of during a time of financial prosperity. And although their were signs that the global economy was slowing, few would have forecast a global recession.
Furthermore in January this year an additional 219 CEOs stepped down. The Wall Street Journal commented:
Top executives at U.S.-traded companies sold a total of roughly $9.2 billion in shares of their own companies between the start of February and the end of last week, a Wall Street Journal analysis shows.
The selling saved the executives—including many in the financial industry—potential losses totaling $1.9 billion, according to the analysis, as the S&P 500 stock index plunged about 30% from its peak on Feb. 19 through the close of trading March 20.
However it was not only CEOs selling off stocks. Some members of Congress were also selling stocks just before the market went nuts…
Sen. Dianne Feinstein of California and three of her Senate colleagues reported selling off stocks worth millions of dollars in the days before the coronavirus outbreak crashed the market, according to reports.
The data is listed on a U.S. Senate website containing financial disclosures from Senate members.
President Trump has said that he’d like to see the economy restarted by Easter. Saying, “would love to have the country opened up and just raring to go by Easter.”
The President has also said that the “cure cannot be worse” than the disease. Indicating that steps to halt the Coronavirus have to be weighed against the harm it will do to the American economy.
However, top officials have tempered the President’s positive outlook warning that this crisis could continue for many weeks to come. The task force has said that decisions around lifting restrictions will be taken at a later date by looking at all the fresh data available.
Democrats in Congress proposed introducing the digital dollar in their draft Covid-19 stimulus bill.
The draft Democrat Bill introduces the concept of a Digital Dollar, which represents either a liability of any Federal Reserve bank, or money redeemable at a bank. In the latter case, the bill introduces the concept of a pass-through digital dollar wallet, which is operated by a bank.
However, Central Banks have warned that the introduction of a digital currency would need to be done with great caution due not only to economic risks, but also cyber security risks.
The Democrats have blocked the stimulus bill worth almost $2 trillion. The bill is meant to keep the U.S. economy moving, and help businesses weather the coronavirus storm.
Republications thought they were close to a deal, and have blamed the democrats for playing partisan politics at a time of national crisis.
The President has pointed the finger at Nancy Pelosi saying, “Republicans had a deal until Nancy Pelosi rode into town from her extended vacation. The Democrats want the Virus to win?” he wrote on Twitter. “They are asking for things that have nothing to do with our great workers or companies. They want Open Borders & Green New Deal. Republicans shouldn’t agree!”
In 30 days the global economy has been brought to the brink of depression. In February the DOW was soaring at record highs and the U.S. economy was in the midst of its greatest economic expansion in history.
A global recession for 2020 was all but unthinkable.
Now the U.S. government is set to inject $1trillion into the U.S. economy to stop mass lay offs, and the U.K. government has agreed to pay 80% of the nation’s wages. As economies are grinding to a halt across the globe the affects of Covid-19 could be hear for a long time.
As the pandemic continues experts are now thinking how it will shape the world once the health emergency has ended. Many think the world will see major shifts in global supply chains and how global trade is conducted.
Many have been warning the West about the threat of a global pandemic. In 2013 the World Bank said, “A severe pandemic would resemble a global war in its sudden, profound, and widespread impact”