AFP: Eurozone economy suffers 'unprecedented' collapse
Brussels (AFP) - The eurozone economy is suffering an "unprecedented" collapse according to a PMI index released Thursday by analysis firm IHS Markit.
"The eurozone economy suffered the steepest falls in business activity and employment ever recorded during April as a result of measures taken to contain the coronavirus outbreak," it said.
The company's purchasing manager's index (PMI) dived to a record low of 13.5 in April, from the previous all-time low of 29.7 in March, confirming private sector gloom that is savaging the 19-nation eurozone.
A reading below 50 signals a contraction.
IHS Markit said the service sector bore the brunt of the hit, with hotels, restaurants and travel-related firms faring the worst.
Manufacturing also saw a record fall however, because of staff and material shortages and severe supply chain disruptions.
Read more ....
WNU Editor: Everyone I know in Europe are telling me the same thing. They have never seen anything like this. There is not only shock that 100,000+ have already died from the pandemic, but the Euro-zone economy as they know it has collapsed. EU leaders are talking about a $2 trillion stimulus. But many of these countries are already heavily in debt, and printing money is only going to aggravate the situation. And on top of everything else. The Covid-19 coronavirus pandemic is still ongoing with no signs that it will end.
7 comments:
What epidemic?
Sometimes I think sleeper or deep cover.
This is if the flu and covid is 2X as bad as just the flew, it might qualify as OMG!. But if we can handle the flu (1X), I think we can handle 2X. The flu on average is cutting a decade off the life of the people, who die. That is bad. But in the greater scheme of things it, it won't wreck the economy by itself, if we did nothing and or just what was normal precautions up until now.
What is coming out of this is better therapeutics, which will reduce the death rate and the number of years lost by a victim.
Have ya all seen the stock market? It doesn't monotonically increase, does it? It goes up over the long run, but it is A random walk. 2 steps forward and 1 step back. Both longevity increases and the stock market valuation increase are natural processes. If they always increase and never decreased, would you figure that something was wrong?
This is expected. First, we worried about disease. Did a good job there (but not complete). Then worried about heart disease. Made gains. Then cancer became a bigger issue. We are making progress there. So we increased our tech and periodically reordered what was the biggest killers as shown by a pareto chart. Keeping more and more people alive some in a failing state made the situation ripe for virus to race through the population. It was given that something like this would happen.
My take away from the Eurozone is the same as it has been since before 2011. Those EU supragovernmental people doe not deserve to govern. They are way above their paygrade. One world government is great in theory and I am for it, but forcing the issue before its time is folly and the EU leaders are fools. This stressful situation (stress test) just confirms it. They lied about the qualifications to get into the EU zone for Italy Spain, Greece and Portugal. They lied about lots of things. They cooked the books and misruled and now the chickens are coming home to roost.
Off topic, but the story the media keeps pushing aside, except to discuss the Captains dismissal.
https://thehill.com/policy/defense/494318-navy-says-entire-roosevelt-crew-has-been-tested-for-coronavirus
The comments on the so called EU leaders is accurate and on topic. The article was about the EU.
Unless you claim that Covid is is the straw that broke the camel's back, then COVID is a nothing burger. COVID is no worse than flu.
When we look back on the year we we will find flu + COVID deaths to be like a bad flu year. We have those every 4 to 7 years. If the overall deathrate is not higher this year than previous years (or a bad flu year), then the fearmongering was just that, fearmongering. As much politics going leads makes me positive that this is a hoax. There is a new viral strain and it is killing people, but nowhere as many as they say. Person could die of congestive heart failure that they had for a decade and their family physician could have expected their death this year. But given politics and funding it will be recorded as COVID.
Just remember every flu death mislabeled as a COVID death lowers the flu count. When the COVID + flu count = previous years' flu totals, people will eat crow. Politicians and bureaucrats are not the only one looking for handouts. Academia are too. So they will look at deathrates from various causes and total death rates and slice and dice the data. It won't help to lie except maybe in the run up to an election. So I expect Democrats to lie.
Anon (8:02),
I couldn't have put it any better. I'd add that those who got it wrong will now tty abd double down on order to try and save face. Hopefully some day the people who brought us these policies will face justice. We have learned that some health care professionals will exaggerate and outright lie in order to gain power and wealth just like members of any other group!!
“So, supposing we hit the body with a tremendous — whether it’s ultraviolet or just very powerful light — and I think you said that that hasn’t been checked, but you’re going to test it. And then I said, supposing you brought the light inside the body,”
Aytu BioScience Signs Exclusive Global License with Cedars-Sinai for Potential Coronavirus Treatment
https://apnews.com/b44f4531071e6204023f7b8e16f59d4b
Trump was right.
Ozone therapy: A clinical review
www.ncbi.nlm.nih.gov/pmc/articles/PMC3312702/
Trump just keeps on being right.
Ozone is a strong oxidising compound which rapidly oxidises organic materials, iron, manganese and other substances when it is added to drinking water. In addition, it is an extremely effective disinfectant against bacteria and viruses
https://www.ifowater.se/aeng/sidor/processtyper/ozonrening.html
They put ozone in the water.
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