Editor: Janine Hansen
February 2020, In the Year of Our Lord
Volume 46, Number 2
Perhaps the Greatest Impact of the Coronavirus in the U.S. will be on the Economy and the Supply of Goods we get from China
Everyday more Chinese Cities are quarantined. They can’t leave their homes to go to work and the factories have been shut down for weeks or more. Shipping facilities are shut down. Americans are dependent on Chinese goods. That supply chain to the U.S. from China is now in jeopardy.
Jerome Powell, Chairman of the Federal Reserve, Feb. 11, 2020:...on the virus, “we are closely monitoring the emergence of the coronavirus, which could lead to disruptions in China that spill over to the rest of the global economy.” www.kingworldnews.com
London (CNN Business), Feb 10, 2020: “…China has become an indispensable part of global business since the 2003 SARS outbreak. It's grown into the world's factory, churning out products such as the iPhone and driving demand for commodities like oil and copper. The country also boasts hundreds of millions of wealthy consumers who spend big on luxury products, tourism and cars. China's economy accounted for roughly 4% of world GDP in 2003; it now makes up 16% of global output…
“SARS didn't sink markets, but coronavirus might. The outbreak has the potential to cause severe economic and market dislocation. But the scale of the impact will ultimately be determined by how the virus spreads and evolves, which is almost impossible to predict, as well as how governments respond," said Neil Shearing, group chief economist at Capital Economics.
“Compounding the risk is the fact that the world outside China has also changed since 2003.
Globalization has encouraged companies to build supply chains that cut across national borders, making economies much more interconnected. The major central banks have used up much of the ammunition they would typically deploy to fight economic downturns since the 2008 financial crisis, and global debt levels have never been higher. Rising nationalism may make it harder to coordinate a worldwide response, if that's required…
“The virus is snarling supply chains and disrupting companies. Car plants across China have been ordered to remain closed following the Lunar New Year holiday, preventing global automakers Volkswagen (VLKAF), Toyota (TM), Daimler (DDAIF), General Motors (GM), Renault (RNLSY), Honda (HMC) and Hyundai (HYMTF) from resuming operations in the world's largest car market. According to S&P Global Ratings, the outbreak will force carmakers in China to slash production by about 15% in the first quarter. Toyota said on Friday it would keep its factories shut at least until February 17.
“Even more troubling is the threat to global supply chains…Economists say the current level of disruption is manageable. If the number of new coronavirus cases begins to slow, and China's factories reopen soon, the result will be a fleeting hit to the Chinese economy in the first quarter and a dent in global growth. If the virus continues to spread, however, the economic damage will increase rapidly. https://www.cnn.com/2020/02/08/business/coronavirus-global-economy/index.html
Underarmour, Feb. 11, 2020: “The company’s initial 2020 outlook currently includes an estimated negative impact of the coronavirus outbreak in China approximately $50 to $60 million in sales related to the first quarter of 2020. Given the significant level of uncertainty with this dynamic and evolving situation, full year results could be further materially impacted.” www.kingworldnews.com
Egon von Greyerz, Gold Switzerland, Feb.10, 2020: “The catalyst for the coming market and debt collapse could be a number events. If the Coronavirus doesn’t miraculously stop spreading soon, it could very likely be the trigger for the world economy coming to a halt. A Lancet study by the University of Hong Kong has estimated that the Chinese authorities have understated the Coronavirus epidemic tenfold.
“With severe pressures in the US and European financial systems, both the Fed and the ECB (European Central Bank) have started aggressive QE (Quantitative Easing printing massive amounts of money) programs. China will now have to start a substantial program of liquidity injections to prevent a collapse of its financial system. As the world’s manufacturer is on lockdown and a serious pandemic is spreading around the globe, the rest of the world seems to live in a cloud cuckoo land.”
Brandon Smith, Alt-Market, Feb. 5, 2020: “I think it's important to point out that even if the death rate (for coronavirus) is low in the US,there is no escaping the economic consequences attached to this event. The US economy is interdependent with multiple nations, and is tightly connected to China. The greatest danger of globalism in terms of economics is that it forces national economies into losing the redundancies that protect them from systemic collapse. When one major economy goes down, it brings down all other economies with it.
“Not only that, but the US financial structure is precariously unstable anyway, with record levels of national debt, consumer debt and corporate debt, not to mention steep declines in manufacturing and demand. The US sits atop one of the most massive economic bubbles of all time – The Everything Bubble, created by the Federal Reserve over ten years of stimulus measures, barely keeping the system alive in a state of zombification.
“The bubble was always going to collapse. In fact, recent events in Fed repo markets suggest it was already collapsing. The coronavirus outbreak is a perfect cover event for this implosion.”
Washington Post, Feb. 11, 2020: “As deaths from the coronavirus topped 1,000 — nearly all of them in China — Beijing on Tuesday urged countries that have enacted travel restrictions aimed at curbing the outbreak to restore normal ties for the sake of the global economy. The appeal from China's Ministry of Foreign Affairs underscored the economic dangers posed by the unprecedented shutdown of much of the world's second-largest economy, as well as the ruling Communist Party's concerns about the outbreak's capacity to fuel domestic instability.
“Authorities in the virus-hit city of Wuhan have announced fresh restrictions on residents, making millions of people virtual prisoners in their own homes. Two provincial health bosses have been fired as the Communist Party struggles to contain widespread anger over the spread of the virus.”
ZeroHedge, Tyler Durden, has extensive information on the Coronavirus and the Economy. I recommend it to you for current updates and information. www.Zerohedge.com
Brandon Smith, Alt-Market, Feb. 5, 2020. “With the flu, people can usually treat themselves with ease at home; the coronavirus is obviously much more dangerous. No country in modern times has EVER quarantined over 50 million people in 16 cities because of the average flu. The comparison between the coronavirus and the flu is patently ridiculous. There is no comparison. The coronavirus is on another level entirely.
“Only 20 miles away from the (alternative food) market in question stands the LARGEST Level 4 Biohazard Lab in Asia, which studies directly into the world's deadliest pathogens including SARS and coronavirus. In 2017, experts warned that a virus could escape the labs in Wuhan because of lax containment standards. To put this in perspective, it would be like an Ebola outbreak striking the city of Atlanta and then blamed on a food market only 20 miles from the CDC. It looks suspicious...” https://www.alt-market.com/index.php/articles/4091-the-lies-we-are-being-told-about-the-coronavirus
I Did Not Go to the Grocery Store for Almost 3 Months
By Janine Hansen
Five years ago I faced a severe financial crisis in my life. I was frantic and I had no idea what to do. The first thing I did was to pray about what I should do. Then I started. I stopped all unnecessary spending. Then the Lord sent me to a friend from whom I borrowed $1000 to pay for essentials like the power bill. (Unfortunately then, unlike now, I had no emergency fund.) I remembered that some other friends owed me several thousands of dollars. I called them and they sent me $1000.
Then I simply stopped going to the store including the grocery store. It was autumn and my garden provided us with our only fresh food including tomatoes, lettuce, carrots, and cabbage.
I am a prepper, my dad was a prepper, but I never thought I was prepping for my own financial catastrophe. As a prepper, I had stored for natural and manmade disasters all the things I needed every day. It was a great trial run. I had plenty of food in my cupboards and freezers that kept us well fed. I had toilet paper, bar soap, toothpaste, dishwashing and laundry detergent, shampoo, etc. I even had extra makeup. Providentially, I had also stored extra vitamins and herbal supplements, Tylenol, Ibuprophen, allergy medication and other medicines. (I don’t take any prescriptions so I was blessed there). Consider what you use every day.
I made it without going to the grocery store or any other store for almost three months. That significantly helped me to get back on my financial feet. It was a very meaningful experience. I knew then that I could do it, what I was lacking and what more I needed to store and replenish.
Ask yourself the question: Could you survive on what’s in your home for one to two weeks (which is what is recommended in a natural disaster), for a month or two or three?
With the coronavirus on the horizon, with economic difficulties in the wind, with natural disasters increasing, are you prepared to be able to take care of yourself and your family for weeks or months? What if you were to be quarantined, lost your job, or had a health emergency? Being prepared gives you great peace of mind. Emergency Preparedness Ideas online at www.nevadafamilies.org
The Long Dead ERA is Rising as a Specter in Washington D.C.
By Patrina Mosely and Tabitha Walters, Feb 10, 2020
The U.S. House Judiciary Committee recently marked up H.J.Res.79, and will soon get a floor vote. This joint resolution seeks to remove the 1982 congressional deadline for the ratification of the Equal Rights Amendment. When Congress originally passed the ERA, they put a deadline in place for states to ratify it. The ERA failed to win ratification in enough states before the deadline passed and is thus legally dead, but this stale effort is back to enshrine abortion-on-demand at the expense of hard-won protections for women.
The ERA would not only create a right to on-demand abortions in all 50 states, but it would allow for unrestricted taxpayer-funded abortions through all nine months of pregnancy. Abortion activist group NARAL Pro-Choice America states, “With its ratification, the ERA would reinforce the constitutional right to abortion by clarifying that the sexes have equal rights, which would require judges to strike down anti-abortion laws because they violate both the constitutional right to privacy and sexual equality.”
We already see this at the state level. The American Civil Liberties Union (ACLU) has encouraged lawyers to use state ERAs to strike down restrictions on abortion such as parental consent laws. They have also filed briefs in Hawaii, Massachusetts, Pennsylvania, and Connecticut arguing that since an abortion procedure is only performed on women, a state’s denial of taxpayer-funded abortion should be considered “sex discrimination” under their state ERA. Pro-abortion groups have won cases in New Mexico (N.M. Right to Choose/NARAL v. Johnson) and Connecticut (Doe v. Maher) in which the state ERAs upheld this notion.
Pro-life groups have offered compromise language that is abortion neutral. But ERA advocates have rejected that language in Wisconsin, Minnesota, and even Congress, adding weight to the assertion that proponents are set on using the ERA to claim a right to snuff out the lives of babies in the womb.
As Americans become increasingly disturbed by late-term abortions, even those who identify as “pro-choice,” and as the courts trend more conservative, the abortion lobby is growing increasingly desperate to enshrine abortion in the Constitution. The abortion industry is about eugenics, and has exploited “women” as the prop for its advocacy. The same is true with the Equal Rights Amendment. They claim the ERA is necessary to protect “women’s” rights, but what they really mean is that it protects abortion.
In fact, if the ERA were ratified today, it would undermine women’s rights. The 52-word amendment never mentions protection for the rights of “women,” instead prohibiting denial or abridging rights “on account of sex.” In 1972, those meant the same thing. Many of the hard-fought victories for women’s rights in that era used the term “sex,” such as the Equal Pay Act of 1963, the Civil Rights Act of 1964, the Equal Employment Opportunity Act of 1972, the Federal Minimum Wage Act of 1974, and the Pregnancy Nondiscrimination Act of 1964.
Of course, despite the wishes of its advocates, the ERA is dead. Thirty-six years after it died, proponents are trying to revive its corpse by ignoring the deadline and recognizing Nevada (2017), Illinois (2018), and Virginia (2020) as states that have ratified the ERA. Countless lawyers, the Office of Legal Counsel at the Department of Justice (OLC), and even Supreme Court Justice Ruth Bader Ginsburg have agreed that the ERA could not be ratified unless Congress started over. Even still, the House Judiciary Committee is seeking to remove the ratification deadline in H.J.Res.79.
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