COMMENTARIES

I predict a massive drop in global stock markets in coming days with no rebound until what is now being called a pandemic is brought under control. Such a drop in the market will exacerbate the pessimism, which will slowly but surely engulf global business leaders and consumers and wreak havoc on the world economy. We have something very real to fear, which is producing real-time economic reactions, like the closing off of China, that are truly beyond belief. These reactions are fully capable of panicking billions of investors and consumers in our highly interconnected and mutually dependent global economy.

You can’t trust that you are getting the real story from Social Security and Medicare websites. Medicare tells seniors they don’t have to sign up for Part B and Part D coverage if the gap between jobs is 8 months or less. The surprise: it counts the gap between ever job change and life time penalties can be a 20% increase in premiums or more. It also doesn’t warn seniors that taking capital gain can double or triple their Medicare premiums.

Greta Thunberg, the determined 16-year-old Swedish activist, has it wrong. If there is an economic payoff from avoiding global warming, there is no reason why the current generation should bear all the costs and future generations should get all the benefits. The climate can be fixed in a manner that makes every generation in every part of the world better off.