Posthaste: Canada’s recession odds at ‘worrisome’ 40% as new risks test economy’s stall speed

The knives are out for economic forecasts around the world as fears grow over what many believe is a looming global pandemic.

While U.S. President Donald Trump said America was “totally prepared” in a special address about the virus threat last night, he appointed vice president, Mike Pence, in charge of the U.S. response. Japan has ordered all schools to shut down starting Monday through spring break in early April. Germany’s health minister warned that the eurozone’s biggest economy is “at the beginning of an epidemic.

We have already seen the carnage this has caused on markets with global stocks shedding $3 trillion this week alone. Watch for more risk aversion today with Dow futures already down 377 points before the bell.BofA Global Research says Canada’s economy is especially exposed to that risk because of its openness and reliance on oil. Lower oil prices, lower outside demand for goods and services and disruption in production chains will all take a toll.

I don't get it! China has 2.5MM pneumonia cases EVERY YEAR, without COVIDー19! And Coronavirus death rate in China is 1/2 of pneumonia's death rate (2.5% vs. 5%). So, why are we exactly shutting down the entire world? Because EMOTIONS trump LOGIC...

This provided little to no actual economic data to suggest that the Canadian economy is in danger. Pure feat mongering because the Bank of America is making loose and fast predictions for Canada. What a fucking take.

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