Should have halted the markets this past Monday verses watching them tumble another 8,000 points…but wtf do I know!
The Trump administration, moving quickly to halt the spread of the coronavirus, is seriously considering grounding all passenger air traffic for up to 30 days, temporarily halting stock trading on Wall Street, and imposing a shelter-in-place rule, according to officials.
Key officials have begun alerting industry leaders, Capitol Hill, and agencies that the “radical” plan could come early next week if the warlike efforts to stop the spread of the virus fail.
On Thursday, the administration began to prepare the nation for 9/11-style moves when the State Department issued a “Level Four” warning against traveling overseas. The warning is the most severe that the department has.
In a notice, the State Department said Americans traveling abroad may find their travel “severely disrupted” and “may be forced to remain outside of the United States for an indefinite time frame.”
Secrets was told that European nations are also considering grounding passenger jets.
What’s more, so that stocks don’t tank further, the administration under the plan being discussed would stop trading on Wall Street when it grounds the U.S. passenger fleet. The Bush administration made similar moves after the 9/11 attacks.
Sources also said that the administration is seriously considering a shelter-in-place rule to keep the public from large gatherings. Some have continued to ignore previous warnings against gathering in groups of 10.
The three radical moves could come as soon as next week, depending on how much the coronavirus spreads. There are some internal government models that show that the number of people infected in the coming two months could reach over 5 million.
The potential for blocking air travel is an indicator of fears that the virus could get out of control and, as in Italy, lead to a high death rate, said one source aware of the briefings for industry officials.
Trump has repeatedly said that his goal is to limit deaths, and aides have said he will do anything to make good on that promise.
The moves were described as very seriously being discussed and not imminent.
However, we were also told that decisions are moving fast at the top levels of the administration.
Grounding passenger jets for anymore than a few days would be unprecedented. After 9/11, they were grounded for just a few days.
Wall Street was closed for over a week after 9/11, but it was also covered in debris from the collapsed World Trade Center.
San Francisco has already ordered a shelter-in-place plan that directs people to stay home as much as possible.