I want to reach out and share a few thoughts on the impacts of the corona virus.
Firstly, Lewis O’Brien and Associates will continue to be open for business during this time. We will be taking steps to minimise the risk of transmitting the virus which means minimising face to face meetings and allowing staff to work from home where practical. This will mean an increased reliance on email and video meetings (e.g. skype). We also encourage you to leave voice messages if your phone call diverts to our message service.
It is difficult to understand the true extent of the danger presented by the corona virus. I don’t think anyone can answer basic questions like how long someone is infectious prior to displaying symptoms or what the mortality rate for a healthy adult might be once you adjust for those who are frail or immune compromised. Is it just a really bad flu season or a threat to the lives of 150,000 Australians as claimed in the media this morning? Is ‘flattening the curve’ a viable strategy or an unjustified slogan?
Fear seems to be causing us to prepare for the worst.
It is also difficult to foresee the medium to long term impact of the dislocation that is being imposed to minimise the transmission of the virus. However, sharp reductions in tourism and education (two of our top five export industries) are inevitable. The impact on casual employees and small (and large) businesses will be substantial. In the short to medium term this will impact the property market as well.
What is clear is that the current lack of leadership in our community and the increasingly shrill tone of our media is increasing the level of overall panic and unnecessarily increasing the long term financial damage that is being caused. At an individual level, excessive hoarding and brawls over toilet paper and the like are also disappointing.
I am hopeful that our politicians will step up to the plate and demonstrate some leadership – although the signs to date are disappointing. I am also hopeful that our media will choose to prioritise our overall welfare by publishing accurate and well credentialled information over inconsistent and alarmist short term headlines.
For my part, Lewis O’Brien and Associates will be taking sensible steps to reduce the risk of transmission. I hope that you and your family remain safe and well. However, we will also have one eye on the future – a future which remains extremely bright in Australia!