The dominos that will fall because of Covid-19

MadMike

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I'm hoping for office job working culture to change, which will have significant impact in societies.

We're still undergoing immense urbanisation driven primarily by the continuous growth of the service industry, which is now the biggest in most western countries. An industry that could be decentralized but hasn't had strong incentives to do so till now. With companies now starting to either enable or expect their workers to work remotely, this could lead to changes.
 

crappycraperson

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Speaking of American healthcare. I read a story that compared two cases of a tourist calling a doctor.

An American tourist went to the Netherlands, got a stomach bug and called a doctor. The doctor said, it's probably nothing serious, stay hydrated, check your temperature three times a day and see if it passes with a few days. She got a bill for 25 euro's, though usually the actual payment of this, isn't really enforced.

The second case was a Dutch tourist in Miami in the same situation. The doctor came over right away, perscribed quite a few different meds and presented a bill of 2400 dollars to be paid right there.

Supposedly this is a true story. But is it really?!
Dutch tourist was foolish to travel without a travel health insurance. EU infact has a rule that mandates purchase of travel health insurance of certain amount before issuing schengen visa.
 

Skills

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So what impact will this have on the life insurance market? If a significant number of people begin dying (3.4%), surely the companies providing those covers will collapse? So what does that mean for mortgages that are backed by those same life insurances?
 

sullydnl

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A relatively small thing but I'd imagine more people will have the ability to work from home or out of office when this is all done. That more agile work life will have a low-key impact on a lot of people, one would think.
 

MikeUpNorth

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What do we think we happen to the housing market?
All asset prices will likely fall (other than maybe a few specific safe haven assets) if financial markets crash and there's a prolonged credit crunch.
 

Raees

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This will probably be the historical event that convinces humans they have to cooperate more in the future.
If World War Two hasn’t done it what do you think this will achieve. I expect humanity to be even more selfish than usual and best case forget this whole thing happened in 50 years.
 

Green_Red

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Well one thing is for sure, Pogba isn't going to want to go to Italy any time soon!
 

VeevaVee

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Also hopefully it'll remind people why the NHS actually fecking matters.
I could also see it going the other way. Once it's overloaded because of how neglected it's been, they'll be able to say "look how this needs changing, it's for everyone's wellbeing" and there will probably be a load of working class people going "yeah well, it does need to be better doesn't it"
 

sullydnl

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On the plus side this might mean that countries are better prepared for any future, worse pandemics.
 

OleBoiii

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If I'm not mistaken, many economists expected a new financial crisis/recession before the summer of 2021. It seems like they were right.
 

DoomSlayer

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If World War Two hasn’t done it what do you think this will achieve. I expect humanity to be even more selfish than usual and best case forget this whole thing happened in 50 years.
I also think it will cause much more division and the bigger countries will look at ways to consolidate their power further.

If you are privileged to live in such developed places, the chances are you would be alright. The rest of the world though is going to live in very dangerous and uncertain times.
 

Zlatattack

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With everything that is going on, it feels like a massive moment for civilisation in the 21st century. A global recession almost seems inevitable at this point, but what other dominos do you think will fall because of this outbreak and the upcoming recession?

One that seems possible, is a regime change in Iran. With the number of those infected in their top decision makers (and their respective ages) and if the outbreak results in the population themselves getting sick of the regime, it could result in a regime change. How does that then, impact the middle East in general?

It's a purely speculative thread of course, but I'm hoping some of the posters who are more historically and politically knowledge might have a few thoughts to share on this topic. This isn't exclusive to just geopolitical/economic effects but also social effects. How will this change the way society behaves?
It'd be a massive blessing. Having a non ayatollah Iran would be great for everyone.

Especially if the Saudi Royals end up overthrown due to low oil prices and their fratacide.
 

Dante

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The domino's in general will probably actually thrive.
Italy has shut everything but pharmacists and food stores. That includes restaurants and pizzerias.

If the UK follow suit, Domino's would very much fall (in this country at least).
 

Revaulx

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Poultry and general meat standards are fecking shocking across the entire world. Vegans have got their shit together over this.
Didn’t loads of Geordies get salmonella from eating raw curry leaves a few years ago?
 

Zlatattack

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If World War Two hasn’t done it what do you think this will achieve. I expect humanity to be even more selfish than usual and best case forget this whole thing happened in 50 years.
idk, the Europeans seemed to learn the lessons of WW2.

The Russians and Americans didn't.
 

cyberman

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Itll lead to a lot more investment in healthcare worldwide. The understaffing, corner cutting days are over
 

Paxi

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Anti waxers might wisen the feck up.
 

DVG7

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I think you will find a lot of businesses/people realizing that sometimes you don’t need to travel to get things done. Like flying an executive from New York to LA for a day just so he can meet an investor face to face, when the deal could have been agreed over the phone/video conference. Would have a substantial impact on all types of transport, presumably leading to a massive reduction in emissions.
 

Paxi

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Some financial implications for football.
 

RK

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Things will get worse - fear leads to high motivation of populations but suboptimal decision-making. And the narratives will be set by the rich and powerful, as usual.
 

adexkola

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1. Supply chains will become tighter and China will lose a lot of its manufacturing jobs.
2. The cruise ship industry will suffer a permanent downturn for good.
3. The reduction in travel plus fewer flights would mean that for the first time ever we will see a reduction in co2 emissions.
4. More workplaces will start realizing the benefits of remote work and think offices are mere extra real estate cost they can do without.
1. No way. Too much expertise and low cost manufacturing in China. A lot of companies who haven't yet will start creating contingency plans and lining up domestic suppliers for just-in-case scenarios

2. Good fecking riddance. I say this a lot but Bill Burr has a great bit on cruise ships.

3. Only temporary but every part counts.

4. About fecking time.
 

adexkola

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So what impact will this have on the life insurance market? If a significant number of people begin dying (3.4%), surely the companies providing those covers will collapse? So what does that mean for mortgages that are backed by those same life insurances?
It would take more for them to collapse. They do undergo stress testing to assess impact of these kinds of scenarios.

Premiums will probably rise though to accommodate, going forward, as there will be some sort of financial hit (both in payouts and market volatility)
 

Irwin99

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Long shot but more people consider vegetarianism/vegan lifestyle? Diseases keep coming from the appalling conditions captive animals are kept in.