I’m Saving Money, Not Panic Investing in Hydroxychloroquine

As I write this COVID-19, or the coronavirus, has united the Earth into a global culture of fear, anxiety, and desperation.

Over 10 million Americans lost their jobs last month.

Millions more will be unemployed this year because of the economic chaos caused by COVID-19.

I fear I am not saving enough money now.

Anxiety and dread invade my being whenever I think about having enough money saved in the coming months.

I don’t want to find myself desperate for money anytime in the future.

So, I am saving every penny now.

Also, I’ve been researching prudent investing for years. Responsible investing triggers include timing and opportunity.

I plan to invest in the tourism industry soon. Maybe in airline or cruise industry stocks.

Almost 60% of Americans would refuse an all-expenses paid luxury cruise vacation. Cruise industry and airline stocks are at an all-time low. It may take years for the tourism industry to normalize, but that is the realistic time period to expect an ROI.

No one wants to travel now. Countries are closing borders. In a few years that will change.

Even in a time of uncertainty and fear, I want to find investment opportunity. Smart opportunities.

In the meantime, I am just saving money.

This is no time to waste money or invest irresponsibly.

Like buying, investing, and hoarding hydroxychloroquine and other anti-malarial drugs touted as miracle cures for COVID-19.

Prudent Investing

When the coronavirus crisis began, people began hoarding and price gouging hand sanitizer to make quick money.

There are many people buying hydroxychloroquine because they think it’s a cure for COVID-19.

Hydroxychloroquine, a generic version of chloroquine, is a 65-year old anti-malarial drug. It also treats arthritis and lupus. This drug has serious side effects and isn’t meant to be used by healthy people.

However, many people, even doctors, are buying and hoarding this drug in the hopes they can profit.

There’s no medical proof hydroxychloriquine can treat COVID-19 or cure it. Any hope it can is based on anecdotal Chinese medical research.

I would rather invest in the return of tourism several years from now than in hand sanitizer or untested miracle drugs now.

Right now, I am just saving money and researching. I will invest in tourism within a year. That is my plan for the time being.

This is no time to waste money or panic invest.

Money is going to be tight everywhere for a long time.

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Posted in: Money, Personal Finance, Philosophy, Saving Money, saving money

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