Bitcoin is down. The Dow Jones Industrial Average is down. There has even been a run on toilet paper in my local small-town grocery store. Is this all mass hysteria, or is there a real market correction behind the scenes, and the virus a real danger?
I would like to remind readers that the stock market is not the economy. If we are seeing the start of a recession or depression, the problem does not lie in the correction, but in the circumstances that built the bubble. Years of arbitrarily low interest rates and "quantitative easing" have been inflating the money supply to forestall the inevitable correction. Price controls always backfire, and we suffer the consequences.
Crypto is an alternative to government funny money that has been used to build up these bubbles as well as the warfare/welfare state. Silver and gold are also options we should not ignore. If you want to stock up, focus on things like beans, rice, and flour that can be stored long term and bartered.
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I am still not convinced the COVID-19 pandemic is an existential threat. I could certainly be wrong, but my prediction is governments will do tyrannical things citing it as justification. When the pandemic fizzles, politicians will claim the things they did helped. Will you believe them?
While everyone is panicking, don't forget that antibiotics are for bacteria. They don't help colds or COVID-19. Put more effort into basic hygiene. Wash your hands. Clean surfaces people touch. Cover your mouth when you cough or sneeze. Oh, and a handy tip: tax instruction booklets can substitute for toilet paper. Pull the staples and at least take some psychological satisfaction in showing the IRS the respect they deserve.