How To Survive the Coronavirus (Covid-19) Shutdown

Money For the Rest of Us

J. David Stein

Investing, Investing Podcast, Business, Economics, Economy

4.5 • 1.4K Ratings

🗓️ 18 March 2020

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

How to avoid ruin and help others avoid ruin as the economy shuts down to slow the spread of the coronavirus.

Topics covered include:

What is the precautionary principle and how can it help us make important decisions with regards to the coronavirus pandemic.
How many people could be infected with Covid-19 in the next 30 to 60 days at the current daily growth rate.
Why investment managers are selling assets to reduce their market exposure.
Should individual investors be increasing or reducing their exposure to the stock market in the current market environment.
How recent actions by the Federal Reserve suggest they think a U.S. recession is imminent.
What can individuals locked down at home do to survive mentally and emotionally.
What we can do to help businesses avoid ruin during the pandemic crisis.

Thanks to Netsuite and Rad Power Bikes for sponsoring the episode. Text the word RAD to the number 64-000 to get a free accessory with the purchase of a bike.

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Transcript

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0:00.0	Welcome to Money for the rest of us. This is a personal finance show on money, how it works, how to invest it, and how to live without worrying about it.
0:10.0	I'm your host David Stein today is episode 291. It's titled How to Survive the
0:16.6	Corona virus Shutdown.
0:20.0	Last Thursday, LaPrill and I got on a plane and flew to Cincinnati.
0:25.3	Our children got on other planes coming from three different locations to also attend the same
0:30.7	funeral. I was a bit apprehensive getting on the plane.
0:35.7	It was packed with individuals that have been attending spring training which had just been
0:41.0	cancelled and so now they were returning home.
0:44.0	The coronavirus pandemic up until then had always seemed a little distance.
0:49.6	Something that was happening over there in Seattle, Europe, China. The Proni had eaten out a few times last
0:58.9	week, but then the cancellations started coming in.
1:03.0	Colleges closed, churches, restaurants, entire countries locked down.
1:10.0	Then cities in the US, and yesterday President Trump encouraged that we don't have
1:16.4	gatherings with more than 10 individuals. In Ohio we went to the grocery store to buy some food for our Airbnb.
1:25.0	Many shelves were empty, not just toilet paper, but pasta, beans, peanut butter, rice, chicken, skyline chili.
1:35.0	That same day I received an email from Steve who's a listener.
1:39.0	He wrote,
1:40.0	I live in the Seattle area.
1:42.0	The epicenter of the coronavirus pandemic in this country.
1:46.4	It's fascinating watching the behavior changes occurring locally.
1:51.2	Thousands upon thousands of people are working from home.
1:54.0	Traffic, especially during rush hour, has disappeared.
	...

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