April 10th marked 100 days since the WHO (World Health Organization) was first notified of the novel corona virus outbreak in China. WHO’s mission statement reads “To publish and disseminate scientifically rigorous public health information of international significance that enables policy-makers, researchers and practitioners to be more effective”. Instead, in January, WHO tweeted, “Preliminary investigations conducted by the Chinese authorities have found no clear evidence of human-to-human transmission of the novel virus.” But, human-to-human transmission was evident as early as December, when the Chinese doctor now credited with discovering the corona virus was punished before dying of the virus.
There will be books written about President Donald Trump and his administration’s litany of corona virus denials and incompetence that helped lead the US into the ongoing disaster. And, it’s no surprise the president is trying to deflect blame. But, one wonders what is the responsibility of WHO, which takes in a billion dollars a year from the US, UK, Germany, Bill and Melinda Gates Foundation etc., and spreads misinformation, that has resulted in millions of people unemployed, thrown the global economy into recession and thousands dying everyday?
Future Wealth’s View
In times of adversity, it is easy to blame and it easy to deny. But, in a society where institutions are created to protect and enhance the lives of its citizens, it is alarming to see well funded institutions like the WHO, fail in their mission time after time.
But, this article is not about bashing the WHO. Instead, it is a reminder that the safety net that we expect around us is not always ready to protect us in times of crisis. This could be from any number of institutions that we take for granted – The Fed, Social Security, Medicare, NATO, UN, World Bank, IMF and of course, financial institutions.
Which brings me to the main point of this article – we have to take care of our own well being. Which means saving for and securing ours and our children’s future when other institutions fail us. There is no easy way to do that successfully but capital preservation and having investments that generate enough income even through tough times makes life a little bit easier. Stay safe!