Things in life until theyre gone. Three, two, one. Cheers to 2020 but maybe they should really say we dont appreciate what we have until its taken away. The signs of what was coming were out there. Portugal and belgium places in lockdown. Now to the crisis in new york city. We have seen this in other countries. This is queens, new york. Covid19 wasnt just another cold. The worst Global Crisis since world war ii. The u. S. Acted but only after waiting. They all have covid. We knew it was coming. Its too little too late. The world has never seen anything like this. There will be a lot of death, unfortunately. Its only a matter of time before it hits your community. This isnt going to get any better. Americans are not prepared. Even as some places see signs of hope, the question remains. Will life ever be the same again . This is what one of the most vibrant nations in the world looks like in 2020. Italy was the First Western country hollowed out by the coronavirus. A clear warning of what a pandemic could do to an open democratic society. And to a people who love life, love to socialize, and love their cities. With no vaccine, italy faced the outbreak the only way it knew how. It delved into its history becoming the first country in the world to put its entire population in quarantine. A medieval practice first introduced to battle the plague. [ speaking Foreign Language ] the word quarantine comes from italian for 40 days of isolation. At the start of this year no one here had heard of the coronavirus. Now they hear of little else. At 6 00 each evening the Italian Government announces the latest numbers of infections and deaths. The news is almost never good. To divert their eyes and maybe to save their souls when the 6 00 p. M. Bulletins come, many italians respond with defiance and solidarity expressing an almost primal need for hope in the face of news that no one wants to hear but that no one can afford to fully ignore. It is a sad moment because we knew in advance it is most likely not good to be good news, going to be really bad news. An Italian Journalist based in rome. A moment people dread, people try to avoid. Psychologically it is a lot of pressure on that moment of the day. The covid19 pandemic that dwan in china and swept through asia took several weeks to fully impact europe. It meant italy had some time to prepare. But like most nations italy didnt appreciate the full scale of what it was about to face. Unfortunately, italians like me, myself included, we started to take it seriously when we were forced to do so, when the lockdown came as a decree from the government. Sporting events were canceled, schools and universities shut, and italys famous cafe culture disappeared from the sidewalks. But italys attempts to stop covid19 came too late. The first recorded case was on january 31st when two Chinese Tourists from wuhan became ill. Almost three weeks later two clusters emerged in lombardy and the numbers blew up after that with hundreds dying every day. 51 days after reporting its first case italy replaced china as the global epicenter of the covid19 pandemic. One thing was unmissable as the world watched italy suffer. Even one of the best resourced Health Care Systems in the world simply couldnt cope once covid19 took hold. Nobody thought theyd be treating so many people so quickly. In the very beginning its been tough just because we received a number of patients which was absolutely unbelievable at the same time. So, for example, i spent four or five days without going home continuing on shift. It is the end of the day. After 12 hours of continuous duty theres a lot of patients here. A hospital intensive care director in lombardy. We have a huge number of patients with severe respiratory distress, and we received a sort of tsunami of patients submerging us. We are leading a mass casual scenario. That means theres a huge disproportion between resources and number of patients to be treated. The virus hit the city of bergamo with such speed and wide scale the cemetery quickly reached capacity. Churches filled with coffins. The army was called in to move the dead to neighboring towns. In a few, short weeks italy was utterly transformed. Just this past week the italian authorities have declared a nationwide lockdown. In milan american student anna engel found herself caught up in the lockdown. I am here in lombardy, which is known to be the epicenter of the pandemic. I want to send a message to the u. S. To please take this as seriously as possible. If we would have responded sooner, italy would have been in a totally different situation. Anna wasnt alone in trying to sound the alarm. Mattia ferrerasi feared other countries would soon be suffering just like italy. On march 13th, he wrote a column in the boston globe urging other countries to learn what would be called the eye talion lesson. We wasted time. We wasted few precious weeks in which we could have explained and understand better the importance of social distancing, the importance of staying home. Many countries did follow italys lead. In london after initially resisting a lockdown Prime MinisterBoris Johnson closed pubs and restaurants and advised citizens to stay at home. The government has a lockdown in force. You must stay home. France and spain did much the same. Even india, with its population of 1. 3 billion, decided on a lockdown. Everywhere covid19 was imposing a new reality. Im in my house all alone. I cant go to my grandchildren. I cant see my children. My name is brooke. I live in sydney, australia. Ive been inside going on three weeks. Its a bit weird being out here because it feels like nothing else is happening in the world until you log online and see all the crazy news happening. Is it wednesday today . Im starting to forget the days of the week. Im in my house all alone for the remainder of this period, and that, all of a sudden, hit me. But not all countries took the italian lesson to heart. Well into the crisis mexicos president continued to meet and greet supporters. In belarus the president said the people could be protected by therapeutic saunas and drinking vodka. And they werent the only ones in the early days who seemed to think the virus would come and go without much harm. Its going to disappear one day. Its like a miracle, it will disappear. And from our shores, it could get worse before it gets better, but maybe go away. Well see what happens. Nobody really knows. Tada did you know Liberty Mutual customizes your Car Insurance so you only pay for what you need . I should get a quote. Do it. 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Breaking news tonight, the alarming headline of that mystery virus outbreak. The cdc confirming the first case in the u. S. What started on the west coast metastasized with hot spots breaking out all over the country. New york city was hit hard. We were looking at a Freight Train coming across the country. Were now looking at a bullet train. I want america to understand this week, its going to get bad. President trump seemed to be in denial. Its one person coming in from china, and we have it under control. Its going to be just fine. Looks like by april, you know, in theory when it gets a little warmer, it miraculously goes away. What do you have a very small number of people in the country right now with it. Its around 12. Many of them are getting better. Some are fully recovered already. Its like the regular flu that we have flu shots for, and well eventually have a flu shot for this in a short time. It will be down to zero. On march 17th, the president changed his tune. This is a pandemic. I felt it was a pandemic long before it was called a pandemic. It was deadly serious. A hospital ship steamed up the hudson river, and makeshift field hospitals were set up in central park. Funeral homes couldnt cope with the number of dead. Meanwhile, the virus scientists believe originated in bats in china then jum toppped to human found a new victim, the global economy. Gold being down, rates going up, stocks getting drilled. The lowest point for the dow. The dow just suffered its worst drop this is worse than 9 11. Among the retailers across the country, layoffs mount. There were immediately comparisons with the 2008 recession when banks collapsed. Other economists reached further back to the 1997 Asian Financial crisis. Or the oil crisis of the 1970s sparked by an arab embargo during a war with israel. Or the big one. Discouragement, fear, depression haunted america. The Great Depression of the 1930s that ultimately led to economic deprivation and out of it fascism and world war. If this runs for much longer then youre going to get all those consequences, reverberations we got from the Great Depression. A historian who specializes in the crash of 1929, selwyn parker. Its a contagion, always finds the vulnerabilities. The 21st century economy is like a supercomputer. Its infinitely complex, interconnected and magically fast when it works. But one errant bit of code, one tiny virus can bring the whole thing to a halt. How bad is this for the economy . What do you think the real Economic Cost of this pandemic are and are going to be . In a word, enormous. Joseph is in lockdown but from his manhattan apartment he sees the impact of covid19 very clearly. The Unemployment Rate almost surely will soar in excess of 20 . Numbers we havent seen since the Great Depression. Worry about a lot of Companies Going bankrupt. Once youre bankrupt you dont quickly go unbankrupt. President trump tried to reassure the markets. Well, look, we were set to hit 30,000 on the dow. This is a number nobody even came close to. Now that its down 10 , 11 , its the highest its been. The more he spoke, the more he contradicted himself and the more the markets tanked. President trumps approach seems to be kind of all over the place. I think he is viewed by most responsible people as just out to lunch. He doesnt know whats going on. No one takes him seriously. Most states did impose lockdowns. But that comes at a cost that could kill the retail, leisure and hospitality sectors, industries that account for 20 of the american workforce. Were already living paycheck to paycheck, already behind in bills. Our Profit Center has dropped. It would not cover the mortgage payment. It would be terrible if i lost this job. I dont know. I dont know how long we can withstand this. Its a bit like chemotherapy, i suppose. Its pretty horrible for a start but works in the long run. If this thing isnt shut down quickly youre going to have massive economic consequences as well as Massive Health consequences. We could be the authors of our own economic destruction. This was a medical problem. We are not going to let it turn into a long lasting financial problem. If it were up to the doctors they would say lets keep it shut down. Lets shut down the entire world. We cant have the cure be worse than the problem. So whats to be done . The u. S. Has reported the most staggering rise in weekly jobless claims on a scale of increase im not aware has ever happened before. We have definitely seen a huge collapse in Economic Activity very quickly. Jim oneill was chief economist for goldman sachs. Hes now a member of the british house of lords. So are you talking about a global dip in about 20 gdp . I think we have a global dip of something in the vicinity of at least 10 baked in the cake. What is unknown is how long its going to go on for and that is of course the presumption we can get this thing under control. Congress did act quickly passing a 2 trillion financial bailout, the biggest in u. S. History. A very important day. Ill sign the single biggest Economic Relief package in american history. This funding will enable us to recover. What worries me is having passed this in three, four months time we may need a second one. Governments cant keep on printing money and governments cant keep on spending it. Eventually you have to balance the books. But the fundamental question remains. How could a virus do so much damage so quickly . We tend to think of our economy as relatively strong globally. But in a few weeks a virus brought the world to a standstill. The lack of resilience, many Auto Companies were selling cars without spare tires. You dont use a spare tire very often, so why have a spare tire . Of course the reason you have a spare tire is when you have a spare tire, a spare tire makes a very big difference. Americans are discovering that the cost of not having a spare tire, not being prepared for such a pandemic, could be devastating, and brings our entire way of life into question. Youre part of the inside crowd when it comes to capitalism but youre saying this has exposed some real systemic problems with the free market system. Ive become a passionate believer the movement of what i call responsible capitalism or profit with purpose is the fay of the future. Profit obviously is an important part of conducting business. But it cant be the sole purpose. The cost in dollars and lives will be felt for years to come. What we dont know is whether the pandemic will change us permanently. In a way this is our alien invasion, this virus is essentially malware attacking the source code of humanity. Whats up . 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I dont care for smooth jazz. 2020 will forever be remembered as the year when the world fell silent. As the virus footprints spread across the globe and governments ordered their citizens inside. In no time at all people had to adjust to a new antisocial way of life. You know this city better than anyone i know by far. What do you think about what youre seeing now . Its devastating and heartbreaking. Generally this is full up. Everywhere you look theres people. In my lifetime never ever have i seen it like this. I met an old friend of mine, pete mulcahey, a taxi driver, london tour guide and former pro boxer. Like millions of others hes facing an uncertain future. When was the last time you picked up a far se . Two weeks ago. The last time i drove the cab as a driver was two weeks ago. How long can you keep going if it stays like this . If it stays like this, three months. Most people have got nothing. Three months, four months, but then i would have to start digging in and pulling away from my long term. The long term you dont want to think of that. Thinking about the long term is precisely what professor amy webb spends her time doing and says a shift in everyday patterns could be the biggest challenge. I think we have to be willing to confront our cherished bleaches rig beliefs and be willing to imagine alternative futures, ones that may not mesh with what weve seen in the past. We are on a different path into the future than we were last month. And that impacts everything. That impacts transportation, that impacts school, that impacts our economy, that impacts investments, that impacts everything. Everybody, all of us. Lets not forget, you may not die from this but your way of life might be dead Going Forward. This is in the center of london. Ever since the swinging 60s this district was londons noisy beating heart but just listen now. 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