from King World News
As we kickoff trading in the final week of January, panic over the spread of the coronavirus has global stock markets plunging and the price of gold surging toward $1,600.
Panic As Coronavirus Spreads
January 27 (King World News) – Peter Boockvar: With the virus, I’m not even going to try to guess what the economic impact will be and how contained or not it will get but what I am confident of is once it starts getting warmer in late March into April, this will flame out and go away. One other thing relative to SARS, on one hand, China has been much more aggressive in getting this thing contained but on the other, China is a much bigger economy today both absolutely and as a percent of global GDP (GDP almost $14T vs about $1.5T back then in the context of about an $80T global economy vs about half that in 2003) where the Chinese people are much more mobile, thus broadening the impact…