The First 100 Days Of The Coronavirus Pandemic
On June 18th, 2020 we hit 100 days since the World Health Organization (WHO) declared the coronavirus a worldwide pandemic on March 11th, 2020.
Here are some of the major things that have happened in this historic period we’re now living in.
On March 11th, the worldwide total for coronavirus cases and deaths was 120,000 and 4,300 respectively.
Now those same numbers sit at 8,515,928 and 453,551 as of this writing on June 18th.
This is a 70X or 7000% increase in new cases and a 104X or 10,400% increase in deaths in 100 days worldwide.
As a comparison, The Iraq War which took place from March 2003 to June 2011 had an estimated total death count from both direct and indirect causes of around 460,000 according to PLOS Medicine.
EDITOR’s NOTE – Direct casualties are those directly from war causes according to the source. While indirect are from other causes like the loss of infrastructure, famine, sectarian violence, and others.
Today or tomorrow we’ll have more deaths worldwide from the coronavirus in only 5 months. In 8 years, we lost a similar amount of people in the Iraq War.
In Mid-March when the WHO declared the global pandemic the US had only 1,000 total cases of the virus. Now we’re sitting at 2,247,456 total cases and 120,256 deaths.
Again, only 100 days later.
And these are just the health numbers…
In mid-March, the stock market went nuts when the coronavirus began its worldwide spread…
The Dow Jones Industrial Average (DJIA) fell from its all-time high on February 12th to 18,591.93 on March 23rd, 2020. This is a fall of 37.1% in a little over a month.
Then in April, May, and early June the DJIA recovered back to 27,572.44 on June 8th, 2020. This is a rise of 46.4% from its March lows.
This period marked the best 50-day period in the DJIA’s history.
But while the market went crazy and then recovered… The rest of the economy and us as American’s have not.
Since March, the US lost 49.5 million jobs. This is more than we created in the last 33 years combined.
An estimated 29.1 million Americans are now on state or federal unemployment benefits.
Because of these things an estimated 64 million Americans have zero in an emergency savings fund.
One-third of all households have less than $500 in a savings fund.
An estimated 4 million households are no longer paying their mortgages.
And on and on in both the US and worldwide.
100 days ago, the economy worldwide was great.
Now it’s among the worst world economies ever and people are suffering economically like they haven’t since the Great Depression.
100 days ago, you could go to restaurants, beaches, bars, theatres, sporting events, schools, and work like you normally had for the rest of your life.
But if you’re anything like me you probably haven’t left the house much over the last 100 days.
And this is showing up in the economic data.
Retail sales are down 8% from their February highs.
Clothing sales are down 63 % from this time last year.
Theatres and restaurants are facing many potential bankruptcies.
Beaches are just now starting to open nationwide.
Many people are still doing their jobs from home.
And sporting events are still nonexistent.
The 100 days from March 11th to today on June 18th transformed every aspect of how we live. Maybe more so than any period in world history.
Books will be written about everything that’s going on today…
In the future people will study those books to see what went wrong and how to improve on the decisions we made during this period.
Here’s hoping the next 100 days are better.
But either way we’re here to help you in any way we can by keeping you updated on important stories from the world of finance.
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