- And with us now for moreon the economic concerns

is Dan Celia, the president and CEO

of Financial IssuesStewardship Ministries.

Dan, thanks for joining us.

- You're welcome, Heather.

It's great to be here.

- So Dan, the big WallStreet firm of Goldman Sachs

is warning that the coronavirus

could wipe out corporate profits

and possibly trigger a recession.

What is your take onthat kind of thinking?

- Well I think, Heather,

everything the president said was correct

in that clip you played.

But could it wipe out corporate profits

and push us into recession?

It certainly could, but it's going,

it's hard to make a call like that,

that Goldman made, because we don't know

the extent of this yet.

And if it looks as though

there is not going to be a containment

of the spread a whole lot further,

if we have here in the United States

what they have in China,if they have in Switzerland

or other places like they have in China,

then yes, it is going tohurt corporate profits

for the rest of the year,primarily due to the supply chain

and the lack of demandfor whatever it is they do

over the next year.

- Yeah, expand a little bit.

What are some of the scenarios,

ways that this viruscould impact the economy?

- So I'll give you a great example.

One is the auto industry.

So right now, most ofthe auto parts companies

in Japan and China are shut down,

and people have said tome, "Well, you know what?

"We have Toyota manufacturinghere in America.

"They can ramp up."

They can't do it without the parts.

The parts are coming from other places.

So the supply chain being shut down

is going to shut downsome of the plants here.

And we will begin, at some point in time,

to see lay-offs, and this is gonna be,

obviously, a problem for our GDP.

Larry Kudlow, one of thepresident's financial advisors,

someone I know, indicated on Wednesday

that we were still gonnasee 2.1 or 2.2% GDP growth

in the first quarter.

Not gonna happen.

Right now, if nothing else gets worse,

we're not gonna seemore than 1% GDP growth,

so we're already seeing the impact.

So the question is, Heather,

if we can begin to contain this,

if it's gonna act like a virus

that starts to dissipate in the summertime

and we start to contain it.

If not, we are gonna havesome economic problems.

One of the--- Yeah, I wanna ask you

because I know a lot of people

are just watching theirown financial interests

in all of this with the stock market.

Do you see the marketstabilizing anytime soon?

And what is your advice forthe many people out there

who are personally concernedabout their savings?

- My advice is don't change anything.

Please, please do notget caught up in the fear

of what might happen or, for that matter,

the fear of what ishappening to your portfolios,

your investments, your 401ks, your IRAs.

Please don't get caught up in that

because you're gonna be selling if you do.

And every crisis similar to this,

in three to four years, wewere back and then some,

on average, up 40% from these highs.

I think it's gonna be the same scenario.

So if you're an investor and you're in it

for a long term, this isnot a time to be fearful.

If you are a young person

and you are contributing to your 401k,

do not allow this fear tostop your contributions

because this downturn is good for you.

You're buying shares on sale.

You have a very long-term time horizon.

So in the short term,

this market is gonna continue to be bad.

Make no mistake about it.

It is going to continue to go down.

It is not gonna be a V-shape recovery.

It's gonna be a U-shape recovery.

It's gonna be down for a while,

but it will start recovering,

and the key is to stayin and not to panic.

- Well I know that a lot ofpeople don't want to panic

but are definitely watching this.

- Oh, I know.- Dan Celia,

thank you for your time.