Over the last three weeks, there has been a lot of talk about Ebola. The economic costs and executed protocol have been a poorly thought out process.
My cousin is the next-door neighbor of Dr. Craig Spencer, the New York City doctor who contracted Ebola (Spencer’s door in photo).
When the news broke, my cousin’s greatest fear wasn't contracting the disease, but protecting the identity of her children, especially her gifted 16-year-old daughter who is an aspiring opera singer and attends a well-known competitive high school. All of the local media outlets respected her wishes with the exception of one.
In the meantime, all of the mistakes made are worrisome. The garbage from the building, including the infected doctor’s garbage, was dumped on the sidewalk; his was not separated into a biohazard bag as a precaution. This is a danger to those homeless people who later ripped opened the bags to retrieve bottles and cans. This could expose them to the doctor’s contaminated fluids.
Also, there was zero communication with my cousin’s family. For a long time, anyone could walk right up to the doctor’s door. There were no seals or tape posted on the door as of this past Friday morning.
Initially, when my cousin and her family planned to vacate their apartment temporarily, they were told they could not leave. Later, they were told they needed to leave, but had to find lodging on their own, and wished good luck. They stayed away for a couple of days, only to return at the same time as the doctor’s girlfriend. Both were refused entry into their apartments until a press conference outside of their building ended. Soon after, the guards were heard screaming at the doctor’s girlfriend for opening her door too wide to accept packages from visitors.
My cousin's children are in shock. Her daughter had a meltdown while taking her SATs this past weekend and her younger son is afraid. They have not been given any clear answers about anything from anyone.
There is No Protocol
It has all been a seat-of-the-pants with too many press conferences bragging about how well the city has reacted. My cousin calls her family "collateral damage." I call them the “final straw.” There needs to be an immediate ban on passengers coming from Ebola hot zones, and medical officials must face mandatory quarantine since they cannot resist the urge to go bowling.
The Market
Friday's rally was more than just another 100-point plus move in a very volatile month. This was a message that investors should hear loud and clear; you can approach the market like traders selling it all and buying it back the next day, or you can stay the course making adjustments to mitigate risk, but not trying to make money on all the day-to-day nuances.
Two days after a terror attack in Canada, and the day after Ebola hit the biggest city in America, stocks could have sold off immensely and it would not have been unusual. Moreover, considering October 24 was the anniversary of Black Thursday, the 1929 stock market crash and Bloody Friday, the global stock market crash of 2008 was a statement session. The market could have been crushed, but it wasn't.
This was the perfect test for the stock market... Ebola comes to New York City and the city did not freak out, and neither did the stock market.