News India's Great Depression

Sbb1413

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Similar to the Great Depression of 1929 (imaged), India's Stock Market is crashed today due to the epidemic of coronavirus! OMG, we are in a brink of poverty!

Feel free to discuss about this.
 

Urwumpe

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Similar to the Great Depression of 1929 (imaged), India's Stock Market is crashed today due to the epidemic of coronavirus! OMG, we are in a brink of poverty!

Feel free to discuss about this.


Economically I am not sure. Might be.


But your chances against Corona are extremely bad, that is what many experts say and from what I can tell from what my coworkers describe, they are right. You have no health care system that could organize the necessary effort.
 

Linguofreak

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The issue we're seeing with Coronavirus is that it's quite overblown for the young, but not at all for the old. So it would be possible to just proceed as normal without doing much damage to the economy, but that would basically be saying to the elderly "Sorry, grandma, you're screwed", so something has to be done to try to contain it. Also, not everyone under 70 really understands that they, personally, don't have much to worry about, so there's a perception of an apocalypse to come if nothing is done. As a result, measures are being taken to contain coronavirus that will, in the short term, damage the economy. Now, since it will just be a passing respiratory illness for most of the non-elderly, it shouldn't do too much long-term damage to strong economies, but economies that are already in trouble (whether it's obvious trouble or not) may be pushed into a recession.
 

MaverickSawyer

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Most economies seem to have already been on unsteady ground. This, combined with the brewing price war between Saudi Arabia and Russia over oil and the COVID-19 outbreak, does spell trouble on a surprising large scale. Heck, the US markets have lost more than 20% of their value in under a month, and today was the biggest single-day loss since Black Monday in October 1987.

I'm deeply concerned that things are going to get much worse.
 

Linguofreak

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Most economies seem to have already been on unsteady ground. This, combined with the brewing price war between Saudi Arabia and Russia over oil and the COVID-19 outbreak, does spell trouble on a surprising large scale. Heck, the US markets have lost more than 20% of their value in under a month, and today was the biggest single-day loss since Black Monday in October 1987.

I'm deeply concerned that things are going to get much worse.

Yup, but I classify that as "things are already much worse, we just don't know it yet".
 

N_Molson

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India is of course suffering from the pandemia, with a very dense population and limited infrastructures. But I also fear that the economic crisis will cause even more deaths as famine will likely strike the poorest.

Such a situation can certainly re-heat old griefs (India and Pakistan were already fighting for resources and water supply) and I can only hope that war isn't the next disaster to come. We all know what Einstein predicted. :goodnight:
 
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