Wrong thread I know, just continuing the conversation (charting...

Wrong thread I know, just continuing the conversation (charting out the window now).

This article below says a lot. China is shot and if the EU goes into total lockdown expect the same there too. Key would be China kicking into gear and restarting its engine. However,I think even if it does for the EU and USA it will be too late and they will need to go through the same hardship. Listening to Aussie news the writing is on the wall for us too. It is just a matter of when. Money will disappear from the world economy.

GXY has the cash and is the reason they were my pick in the sector. Without cash it is going to be extremely hard for a company to keep moving forward. It just needs to hold that cash long enough to outlast this mess and then it can come out stronger the other side.

I have lived through many crashes, but what I am witnessing now goes even beyond my experiences. If you have debt be vigilant. If you have cash build it. The next 6months will surprise many. I just pray that the scenarios in my head are wrong. If I am right there will come a time when deploying that cash will be of value. For now we just need to ask the question have we finally kicked the can down the road for the last time?

Interesting times.

Hong Kong (CNN Business)China's automotive and aviation industries suffered historic drops in activity in February as the government locked down cities and restricted travel to contain the spread of the novel coronavirus pandemic.

Car sales in China collapsed 79% compared to a year ago, according to data released by the China Association of Automobile Manufacturers on Thursday. It was the biggest ever monthly decline, according to Reuters. Only 310,000 vehicles were sold.

Sales of new energy vehicles, which include electric or plug-in hybrid cars, plummeted 75% to 12,908, even though the government has been pushing hard for the adoption of such cars.

Coronavirus is shutting car plants in Europe just as factories in China reopen

The country's aviation regulator also released dire figures, saying that the industry recorded its worst financial performance ever in February. Passenger traffic plummeted 85% from a year earlier to 8.3 million people, according to the Civil Aviation Administration of China (CAAC). Cargo traffic decreased 21%.

Flights are still struggling. Only 40% of domestic flights had resumed by Sunday, according to the regulator.

The dramatic plunges happened as China placed tens of millions of its citizens on lockdown last month to control the outbreak, which has now infected

more than 124,500 people and killed over 4,600 worldwide, according to the World Health Organization. The country's restrictions and its extension of the Lunar New Year holiday led to nationwide business closures and brought travel to a grinding halt.

The coronavirus has also wreaked havoc on the automotive and airline industries.

Global car manufacturers were forced to shut business for a big chunk of February, measures that threatened to prolong a slump in vehicle sales, derail production in the country and snarl global auto supply chains.

Meanwhile, airlines worldwide stand to lose $113 billion in sales if the coronavirus continues to spread, according to the International Air Transport Association. Carriers in Asia Pacific could lose out on sales worth $58 billion.

China is now hoping for a rebound. Mainland China reported 15 new coronavirus cases on Wednesday, continuing a week-long trend of dramatic declines.On Thursday, a spokesman for the country's national health commission said the current coronavirus outbreak has peaked.

Airlines win regulatory relief to ease coronavirus hardship

The aviation regulator said it will enhancethe way it monitorsinternational flights from infected regions to prevent cases from elsewhere coming into China. It added that it will classify flights based on risk level, which it determines based how much the coronavirus has spread in the area where the flight is originating from, as well as how many seats are occupied on the inbound plane.

CAAC is also taking steps to prop up the sector as it struggles to deal with business fallout from the coronavirus. That includes a 100 billion yuan ($14.3 billion) infrastructure spending proposal that will involve building new airports. It's also lowering some fees for airlines, including charges to park and land at airports.

The regulator also said it would push forward with airport construction projects, including new airports in Chengdu and Qingdao. Fifty out of 81 airport construction plans in China had resumed work as of Tuesday.