It’s another day and now South Dakota has had 8 cases of COVID-19. We had our first cases yesterday, a few hours after I predicted it would be here in 3 days. We’ve already had one fatality.
A nearby town closed its school to disinfect after a parent of a student was diagnosed. They are spraying down surfaces with chemicals then hand-scrubbing. I can only wonder if this is being done too late. I realize that they need to do something. Will they do this again when the next parent tests positive? The chemicals are not cheap and now the kids are going to be around them. More likely, they will close the school indefinitely.
The Dow Jones Industrial Average is down 1.5k today to 23,553.22, it’s a loss of 3k in a week. The FTSE NAREIT All REITS index is down to 203.91. The government bonds in Germany have a negative interest rate (10Y -0.747%). This means that a bond investor is so worried about a loss from other investments that they are willing to store it with the government for a fee. I’d rather bury my cash in a hole than that.
It’s really not the severity of the disease, it’s the panic that is happening and will continue if we can’t pull it together. I’m doing something. I just submitted an LOI on a commercial property today. Keep our heads and we will get through this.