Swine Flu Strengthens US Dollar and Lowers Oil Prices
Approximately 103 people have died in Mexico from the swine flu, and the World Health Organization (WHO) is calling it a “public health emergency of international concern.”
The first case of swine flu in Europe has been diagnosed in Spain, and the number of people dying and being admitted to hospitals from swine flu grows 25 percent each day. Officials fear that between 15% and 50% of the population might contract the illness, and the Daily Mail considers how the swine flu is a bigger threat to humanity than nuclear warfare.
One surprising consequence of the swine flu outbreak is its effect on the value of the US dollar and the price of crude oil. According to CNNMoney.com:
The price of oil fell more than 5% Monday morning as concerns about the potential economic repercussions of a swine flu pandemic weighed on the stock market and lifted the U.S. dollar.
Over concerns about a possible swine flu pandemic, oil futures have declined to below $50 a barrel. In addition, fear over a worldwide outbreak has caused investors to be more cautious and seek the US dollar for refuge. The dollar had gained 0.8% over the euro as a result of swine flu concerns. The stronger dollar has also contributed to the lowering of crude oil prices, which cost $100 more per barrel at this time last year.
Could the swine flu actually be good for the US economy?
Image: Laurel Fan on Flickr under a Creative Commons License
I don’t know if it will help the economy, I think maybe with the excessive population growth’s that we’re experiencing, and the cost on the environment as a result – I think a large plague or pandemic may slow down and help the environment as a by product.
Perhaps it’s God’s way of slowing down Man’s destruction of the Earth.
Economy-wise this is kinda macabre but the more fatalities resulting from flu, the more jobs there will be available for those who survive. – There’s always a silver lining right? Just gotta out-live everyone else.
I was reading how it will negatively effect families that don’t get paid sick leave for themselves or caring for their children. These people can’t afford to take off work, and so will be working sick and sending their kids to school sick.
From Moms Rising:
The news over the weekend was scary — outbreaks of a potentially pandemic flu virus, called the “swine flu” are being reported all over the world, including in the U.S. As of this morning there have been only 20 confirmed cases of swine flu in the U.S., and none of them have been fatal.1 White House officials monitoring the situation are recommending that: “If you’re sick, stay home, get treatment, go see a doctor.”2
This is easier said than done. In the U.S. today, nearly half of workers aren’t allowed to earn paid sick days (i.e. they don’t have a single paid sick day to take when illness strikes in order to keep our communities healthy and not spread illness). And more than half of the workforce does not have or cannot use paid sick days to care for sick children. The numbers are even worse in industries where people need paid sick days the most: 92% of waiters and waitresses, and 79% of child care workers aren’t allowed to earn any paid sick days. 3
How do the experts expect people to stay home when they’re sick , if they don’t have any paid sick days?
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