Coronavirus - Financial, Health and Other impacts II

[6miths]

It's 4 PM EDT on a weekday and I am just looking at Google Maps Traffic for the East Coast. Green, Green, Green on the major roads in every major city from New York to Chicago, Toronto to Miami. Who would ever have thought they would see the day.

 

[Running_Man]

Originally Posted by dvalley View Post
+1

I had my VTI buy set to $145 a couple of weeks ago, it came close ($145.30) but didn't trigger the purchase. I then lowered it even more to $141 thinking we'll see another big dip but today I'm undecided if I wait or just go in now and be done with it.
Lower it to 88, you'll get it soon enough..............

Down to 115 30 points down just 27 more points to go should see it next week!
Get your orders in now!

 

[P.S.]

canary in the coal mine?

I initially posted this under the COVID news thread but I think it fits better under the financial thread b/c it may be actionable. I received the following email y-day afternoon:

******

Dear ———- Medical Center Medical Staff,

This inhaler stratification algorithm was created by pulmonology experts within the ———— Health System. There is an extreme nationwide shortage of albuterol metered-dose inhalers (MDI). As a result of this nationwide shortage, the ————— Health System is requesting restricted utility of albuterol MDIs as directed in the attached algorithm.

Please be aware that a focused COVID order set has been created in ConnectCare and is currently in production.

Thank you,
———, PharmD, BCPS, BCCCP
Clinical Pharmacy Coordinator
——————— Medical Center

********

(MDIs = metered dose inhalers)

National drug shortages are not uncommon, especially for generic drugs. But I do not ever remember an “extreme” shortage, and one with strict protocols dictating usage. And this time, it is albuterol.

I think this portends a very heavy nationwide caseload of COVID 19, for sure not all confirmed, that will become more critically sick in the near coming days, with the next extreme shortage being ventilators (which we already see coming.) This email I think just gives us a better idea of where we are, as a nation, on the path to complete meltdown.

 

[6miths]

Down to 115 30 points down just 27 more points to go should see it next week!
Get your orders in now!

I'm set at 92 but may pull the trigger before then. I have a hard time believing it will get that low but obviously all bets are off at this point.

 

[harley]

National drug shortages are not uncommon, especially for generic drugs. But I do not ever remember an “extreme” shortage, and one with strict protocols dictating usage. And this time, it is albuterol.

I think this portends a very heavy nationwide caseload of COVID 19, for sure not all confirmed, that will become more critically sick in the near coming days, with the next extreme shortage being ventilators (which we already see coming.) This email I think just gives us a better idea of where we are, as a nation, on the path to complete meltdown.

Or it could just be that everyone who is asthmatic ordered inhalers as soon as ll this started. Both DW and DD have asthma, and the first thing they did was refill their prescriptions. In DD's case she also ordered a nebulizer and meds for that. Hopefully that's behind the shortage.

Is albuterol a treatment for Covid-19?

 

[P.S.]

Or it could just be that everyone who is asthmatic ordered inhalers as soon as ll this started...
Is albuterol a treatment for Covid-19?

Could be... but then one would have expected there to be shortages of other drugs too as everyone medicated stocks up. Not only have I not heard of another specific drug shortage, even as enlightened patients sh/would be stocking up, but the albuterol shortage is extreme.

Albuterol is not a specific treatment for COVID. My guess is that many more people, than the seasonal average considering bronchitis/flu/URI/pollen/allergies, are with cough and short of breath enough that they are being prescribed albuterol. Could these be legions of “mild” COVID cases acutely presenting, or patients that will progress to worse disease? Don’t know, not evidenced based, but my “gut” thinks so.

 

[Chuckanut]

Here is one of those other impacts....

Squid sales are down in Italy!

https://www.undercurrentnews.com/20...-squid-orders-in-italy-spain-japan-slow-down/

“"Now [the octopus and squid trade] is practically all paralyzed," the first source said, noting that orders from Italy and also Japan, another large octopus importer, had dropped due to the coronavirus outbreak affecting the tourism industry in both countries. “

 

[audreyh1]

My sister sold all several days ago. I did nothing. She was only set back 6 months. I am down 20%. So far. No change in AA (60/40). Both my equities and bond components seem to have been hit about equally. We shall see how this plays out.

My stock funds have been hit very hard - down 25% to 40% YTD. My bond funds have been slightly positive to just very slightly negative YTD. Dramatic difference.

 

[Another Reader]

I was down a third of a tank, so I went to Costco gas station after lunch. There were a couple of cars waiting, but many other pumps were empty. I pulled right in and filled up. Leaving, I had to circle the entire parking lot to get back on the street. The lot was about half full. On the way home, I stopped at Lowe's to check out their $1.50 vegetable plants. The garden area was not crowded, but there were a substantial number of people stocking up on garden stuff for the weekend. Some traffic in and out of the main store as well.

I needed gas. I did not need plants, so I just made a quick in and out of the open nursery area to verify the cheap plants weren't worth standing in the line that had formed. There were more than a few people in Target, judging from the parking lot I passed on the way home.

I don't think sheltering in place is being taken very seriously here. Maybe when there are more severe cases and some deaths in the news, people will stay home.

 

[aja8888]

I was down a third of a tank, so I went to Costco gas station after lunch. There were a couple of cars waiting, but many other pumps were empty. I pulled right in and filled up. Leaving, I had to circle the entire parking lot to get back on the street. The lot was about half full. On the way home, I stopped at Lowe's to check out their $1.50 vegetable plants. The garden area was not crowded, but there were a substantial number of people stocking up on garden stuff for the weekend. Some traffic in and out of the main store as well.

I needed gas. I did not need plants, so I just made a quick in and out of the open nursery area to verify the cheap plants weren't worth standing in the line that had formed. There were more than a few people in Target, judging from the parking lot I passed on the way home.

I don't think sheltering in place is being taken very seriously here. Maybe when there are more severe cases and some deaths in the news, people will stay home.

Same around here. Walmart was packed yesterday afternoon. Also, traffic was substantial and Lowes and Home Depot looked busy.

 

[Ready]

I called the local Costco around noon today to ask if there was a wait to get into the store. They said there was not so I headed on down. The parking lot was fairly full but it was not hard to get a spot.

They had signs posted everywhere reminding us to keep six feet apart from each other. They taped lines on the floor by the cash register showing us where to line up our carts while we wait. I was pleased to see all this. It seemed to be working.

There was no toilet paper, paper towels, Kleenex, disinfectant wipes, bottled water or flushable wipes.

But everything else seemed to be plentiful in supply. There was certainly no shortage of any food items. Certain items were posted as having a limit of 1 per person, but most things were more than adequately available.

The line at the pharmacy was long but after about 15 minutes I got my prescription. I loaded up on household stuff and some groceries with long shelf lifes. I am hoping this is the last time in quite a while that I need to go to a Costco or do any regular shopping.

Which is probably a good thing because on my wait out I noticed there was a line wrapped around the building for people waiting for their turn to get in to the store.

 

[USGrant1962]

Here is one of those other impacts....

Squid sales are down in Italy!

https://www.undercurrentnews.com/20...-squid-orders-in-italy-spain-japan-slow-down/

“"Now [the octopus and squid trade] is practically all paralyzed," the first source said, noting that orders from Italy and also Japan, another large octopus importer, had dropped due to the coronavirus outbreak affecting the tourism industry in both countries. “

Great, let the populations recover. I love to see squid and octopus when scuba diving.

Oh, and I like to eat them too, but that is only once or twice a year.

 

[ER Eddie]

Here is one of those other impacts....

Squid sales are down in Italy!

https://www.undercurrentnews.com/20...-squid-orders-in-italy-spain-japan-slow-down/

Some good news for squids, at least!

 

[copyright1997reloaded]

45 minute COVID19 test approved by FDA

A bit of good news, the FDA has approved Cepheid's point of presence 45 miute COVID19 test:

The test does require a specialized machine (about 4500 of them around the USA today), hopefully many of the machines are in hospitals where they can quickly check hospital workers, etc.

From an investment perspective, Cepheid is a part of Danaher (DHR) who bought them around 2016 (I think).

 

[ncbill]

CNBC has picked up on the St. Louis Fed projected unemployment study I mentioned earlier:

https://www.cnbc.com/2020/03/30/cor...-unemployment-rate-of-32percent-fed-says.html