The fear around the coronavirus around the world has now escalated but the relatively small fatality rate don’t justify all the hysteria, said Gerald Celente, publisher of The Trends Journal.
“Fear is an easy thing to sell, whether it’s in war, or weather, or this, but the numbers aren’t showing it,” Celente told Kitco News.
Celente added that governments and businesses around the world are overreacting.
“I think they’re making a bigger deal out of this than it is. In the United States last year, 61,000 people died of flu viruses. I don’t know how far it’s going to go, but when you look at the past, these aren’t big numbers,” he said.
Due to the quarantines and shutdown of transportation in China, as well as a suspension of flights to and from the country by several international airlines, economists expect that growth in the first quarter is expected to decline in the world’s second largest economy..
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