by Michael Snyder
The Economic Collapse Blog
If you thought that we had more time before this coronavirus pandemic exploded out of control in the United States, I am sorry to say that you are out of luck. In all of the major nations in the western world, the number of confirmed cases escalated dramatically over the past few days. Here in the U.S., COVID-19 has now reached 33 states, and the number of confirmed cases seems to literally be changing every few minutes as more announcements are made. Over the weekend, we witnessed another wild round of panic buying as people feverishly stocked up for an extended pandemic, but at least Americans are not throwing punches at each other over toilet paper like we are witnessing elsewhere in the world. Needless to say, all of this insanity is badly rattling Wall Street. The markets are going absolutely nuts, and it looks like this could be a truly historic week. Much more importantly, it looks like any hope of containing this virus is now completely dead. In fact, Dr. Scott Gottlieb of the Food and Drug Administration just told the entire nation that we are “past the point of containment” now.