As  posted to the Peak Prosperity YouTube Channel on February 7, 2020

(Run time 10 min 44 sec)

In Update #16, on the Wuhan New Coronavirus (officially “2019-ncov”), Chris Martenson reports:

“As China now has placed over 400 million of its citizens under quarantine, China’s economy is grinding to a halt. Workers can’t leave their homes. Factories are idle. Most (if not all) of China’s ports are no longer shipping. International flights are increasingly banned from the country.

When the world’s #2 economy hangs up a big “CLOSED” sign, that’s going to result in a major negative impact on global trade. As the manufacturing powerhouse to the world, you’ll be challenged to think of ANY industry that won’t experience serious supply chain interruptions and shortages from China’s woes.

Did you know China makes the vast majority of our prescription pharmaceuticals? A MASSIVE hit to the global economy will directly result from the damage the coronavirus is currently doing. And it may get worse, a lot worse. So ignore today’s ridiculous all-time high stock prices. They can’t last in the face of what’s coming.”

(This is Blog Post #732)

Chris Martenson, is a former American biochemical scientist and Vice President of Science Applications International Corporation.  Currently he is an author and trend forecaster interested in macro trends regarding the economy, energy composition and the environment at his site, www.peakprosperity.com.