As if the global economy, let alone the world itself, needed another thing to worry about, swine flu comes along. Having lived through the experience of SARS 6 years ago, the Hang Seng and Shanghai stock markets were hard hit. Economically sensitive commodities such as crude and copper are also weak.

The Mexican peso is having its biggest one day decline vs the US$ since Oct 22nd also in response as businesses where people congregate temporarily close. Most global bond markets are the sole beneficiary of the nervousness.

May German consumer confidence was a touch better than expected but the Euro is lower as two ECB members over the weekend said they will support another rate cut next week. The only question over the next few months is if they stop at 1% or not from 1.25% now. Earnings, auto restructurings, bank stress test capital raises and US Treasury supply will again be the focus this week.

Category: BP Cafe, MacroNotes, Markets, Think Tank

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

7 Responses to “Swine Flu Comments”

  1. Avl Dao says:

    What the Pandemic Flu Teaches on Human Complacency About Financial Crises.

    In 2006 in response to concerns over the Avian Flu, the Centers for Disease Control put candid planning guides on the web for 8 critical components of our society: schools/universities, households, churches, etc., for preparing for a Pandemic Flu.

    That led to an enlightened job experience for me, in a Buddhist-like ‘Life’s A B#tch And Then U Get Resurrected” kind of way.
    Though I had no medical background, my project management skills caused me to get selected to co-lead development of our institution’s Pandemic Flu plan.

    The small team discovered that our on-site, local and regional medical and health services infrastructure would be overwhelmed and would collapse in a timeframe far quicker than laymen intuition would signal.
    Just as psychologically numbing was the realization that sending people home was not an option because the first critical key step/directive given to government is to Stop All Mobility within the society; mobility spreads disease. Therefore launching Barriers to Mobility are the 1st govt step in battling pandemics. People must be kept in place.
    Many of our leaders were shocked to learn that they would have to keep all workers, families and student on-site and deal with all the issues of health services, food delivery, waste removal and hygiene/sanitation.
    So they dismissed oral findings that the local medical infrastructure would collapse.
    So I developed a spreadsheet using the infection, disability and death rates provided by the CDC and applied them to our small metro area. The projections were devastating to the psyche.
    The response from local leaders? Our local leaders ignored the CDC planning guides and concluded it was better to not think about such things.

    That was my moment of Enlightenment. I think that 2006 lesson on the tremendous power of ‘human denial’…makes it easier for me to understand, if not anticipate, the complacency and lack of mass public inquiry and outcry on the PPIP, TARP, and assorted guaranty and bail-out boondoggles inherited by Team Obama from Team Bush, and in some cases, taken to the next extreme level. I am dismayed but not shocked or surprise by Team Obama’s own ‘still unreported’ internal battles over denial of the implications of this shape-shifting financial crises.

  2. Thatguy says:

    Tempest in a teapot. Just because they add an animal in front of “flu” does not make it a world ender. You would’ve thought we figured that out last time the world was ending because of Bird Flu or what about SARS or the time there were no flu shots available for all of the people that never ordinarily got them, WTF. What scandal/theft/travesty of justice are they trying to distract us from THIS time (and does this mean steroids in baseball is no longer sufficient to distract?). Does the media get together over the weekend and decide on a trumped up threat to flog over the coming week? I even got this garbage from NPR.

    People only die from the pneumonia instigated by swine flu, but then pneumonia is a treatable condition with modern medicine and not very scary, so go with swine flu. Its the flu but with pigs…. scary.

    They/we truly are sheeple.

  3. The Cynic says:

    BR:
    I think the Swine Flu began on Wall Street and in Washington D.C.
    They’ve infected one another through greed, power, and arrogance.
    This particular strain has been around for many, many years.
    This pandemic is spreading across the world.
    Unfortunately it may be too late to eradicate it

  4. Dharmendra says:

    Colonial Medical Supplies just received new shipment of 3M N95 Masks. All of our distributors are already out of stock. Once current stock is sold any additional shipments will be delayed. Masks can be purchased at any one of our 3 retail locations or online at http://www.colonialmed.com

  5. FromLori says:

    Sorry, America, We’re Too Corrupt To Fix The Financial System it is filled with swine including our government!

    http://www.businessinsider.com/were-too-corrupt-to-fix-the-financial-system-2009-4

    http://bluelori.blogspot.com/2009/04/clinton-bubble.html

  6. fluhistory says:

    Follow the swine flu history at http://www.bionyt.dk/swineflu

  7. robjohnson7951 says:

    Some good maps and news on http://www.swinefludeaths.co.uk, seems to be updated every few hours.