Ep. 52 Corona-Nomics
This Monday evening’s WilmsFront was the corona show. Corona-sociology, corona-nomics and coronapanic. As cases worldwide grow the global stock markets are in a tailspin. To condense all of these developments I’m joined by Debt Nation host Steele Archer.
I begin the show by commenting on the continuing toilet paper buying panic. National supermarkets have reduced their purchase limits and deployed security guards to stores across Australia. A lesson from this chaos is that Australians should better prepare for possible national emergencies. The toilet paper panic buying has now gone global.
I then bring Steele on and we go through the coronavirus global infection and death rate to present. The outbreak has seen globalism and globalization come under serious threat. The financial crises the virus is causing is due to its accelerating of the inflationary bubble bursting.
Another global economic development not related to the virus is Saudi Arabia and Russia engaging in an oil price war. That’s good news for motorists with petrol to drop to $1 a liter and the world oil supply increasing.
With XYZ Live canceled David Hiscox appears briefly to offer his thoughts on the coronavirus’ global economic impact. Steele and David have differing geopolitical predictions than myself.
After David leaves Steele and I move onto the impact the coronavirus has on Australia’s economy and politics. The Morrison Government’s prized budget surplus looks to be gone as they are formulating a $10 billion economic stimulus package. A recession looks inevitable with the ASX crashing to a 12 year low.
I finish off with a brief preview of Super Tuesday II, the coronavirus threatens Trump’s re-election, he himself was nearly exposed to the virus at the recent CPAC conference. I also review International Women’s Day and Greta’s latest climate protest outside the European Union in Brussels.
Oil plunges 25 percent, markets sink as Russia-Saudi Arabia feud – Fox News
PM considers ‘Rudd era’ cash handouts to mitigate coronavirus economic fallout – Sky News
ASX plunges $155 billion as top economist forecasts Aussie recession – 9news
France bans gatherings of more than 1,000 people – The Local Fr
Rage against a ‘patriarchal pandemic’ on International Women’s Day – South China Post
Climate change or coronavirus? ‘Pick your evil’, protesters say – Al Jazeera