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Originally posted by irishchic
Soooooo....now that the PTB have declared a "Public Health Emergency" relating ot the swine flu do we think that:
Wall Street will continue biz as usual
The bio-tech and meds company stocks will sky-rocket
That it will in some way "affect" the way that business as usual is being conducted currently?
Might be a bumpy-ride ahead but maybe some money to be made as well?
Vaccines from Roche, which sells Tamiflu, and GSK, maker of Relenza, have been shown to work against viral samples of the new disease. The drugs were also used to help protect against outbreaks of bird flu in Asia, providing windfall profits for the companies.
The swine flu outbreak is likely to benefit one of the most prolific and successful venture capital firms in the United States: Kleiner Perkins Caufield & Byers, Thomson Reuters Private Equity Week reported on Friday.
Shares of two public companies in the firm's portfolio of eight Pandemic and Bio Defense companies BioCryst Pharmaceuticals (BCRX.O) and Novavax (NVAX.O) jumped Friday on news that the swine flu killed a reported 60 people in Mexico and has infected people in the United States
Originally posted by redhatty
Many countries are banning pork and some all meats from the US due to the Swine Flu.
This is gonna leave a mark in the commodities market, which strangely enough is the one that is in "bubble" mode right now.
Baxter is joining up with WHO to make a vaccine, but even with their (not proven safe yet) rapid system of vaccine development, it will take 13 weeks.
Tamiflu, even though many reports say it does more harm than good for Swine flu, is selling like hotcakes RIGHT NOW. People are finding black market & overseas suppliers of it (generic form)
New term has been coined for the effects of Swine flu on the global markets: Flucession
Fun & games isn't it?
Summers Says U.S. Economy to Decline ‘For Some Time’ (Update3)
April 26 (Bloomberg) -- The U.S. economy will continue to contract “for some time to come,” said Lawrence Summers, director of the White House National Economic Council.
“I expect the economy will continue to decline,” with “sharp declines in employment for quite some time this year,” Summers said today on “Fox News Sunday.”
The International Monetary Fund, which held meetings last week in Washington, cut its forecast for each of the Group of Seven economies for this year and next. The IMF, established in 1944 to aid countries in financial crisis, said the U.S. economy would shrink 2.8 percent this year and have no growth in 2010, with unemployment rising to 10.1 percent.
Mexico Asks Bars, Churches in Capital to Close; Won't Order Offices Shut
April 26 (Bloomberg) -- Mexico requested the closure of bars, movie theaters and churches in the capital to fight an outbreak of deadly swine flu, while stopping short of ordering workplaces shut on concern about the economic impact.
The effort to fight the virus has a “high potential for disruption,” Finance Minister Agustin Carstens said today while speaking to reporters at the International Monetary Fund’s spring meetings. It’s too early to gauge the economic impact, he said.
The epidemic, which has claimed as many as 81 lives, threatens to deepen the country’s economic decline after U.S. demand for Mexican exports including cars and home appliances plummeted. The Mexican economy shrank 1.6 percent in the fourth quarter and probably contracted another 4.2 percent in the first three months of this year, according to a central bank survey of 32 economists published April 1.