Belgium confirms case of new,
heavily mutated
Covid variant
Dow Drops 900 Points…
The
photographer captures the face of fear on the CNBC website Friday (26 Nov 2021). The loss of
value in savings and investments is more powerful than an equal value of an increase.
People fear
losses of all kinds.
The trigger
of fear is the new virus variant, which can trigger fear of death and severe
illness—especially for those who have lost a loved one or struggled through a
hospitalization or even a tough bout at home.
Fear is a
powerful motivator to take action—self-defense—hide, avoid threats, seek
safety.
Action in
financial markets isn’t really about the value of a company or business but
about human nature and that powerful emotion of fear, which drives action.
Fear also
motivates people to avoid vaccines. Of course fear is not the only reason
people have avoided the vaccines—skepticism and distrust are other reasons.
Seeking
safety is a good thing when the response has a rational basis. By rational, I
mean, in this context, a response grounded in available empirical data.
We don’t
know a lot about the new variant, it’s resistance to current vaccines and
treatments, or how widespread it will be.
Expecting More Fear
I suggest
an aftershock may occur next week if one person in the USA turns up having the
new variant.
Another
shockwave may happen in a few weeks when holiday revelers end up in hospital
with infections.
Religious Response and the Spirit of Fear
Here in the USA, Christians were markedly divided about safety measures and vaccines for the 2020 virus that is still with us. Some boldly declared God didn't give us the "Spirit of Fear." I understand many believe if God is with them, then they are safe. Unfortunately, many Christians suffered and died. I suspect the word "spirit" is a metaphor. In any event, perhaps fear can be seen as a gift that helps humans stay safe and avoid danger? I won't argue the point because such beliefs cannot be served by empirical data and are strongly resistant to change.
Pursuing Peace
I hope for
peace and goodwill, which depends on people enjoying a safe holiday season. For
us in the West that means Christmas through New Years.
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