@eladar saidAfter the 2008 financial crises they never solved the problem. Instead of letting the bubble deflate they reinflated it and the bubble is bigger. The bigger the bubble the worse the crash. I think the pandemic is an excuse to pop the bubble that is going to pop sooner or later anyway. The elites sold their stocks and will wait until the crash is over and buy them back at bargain prices just like they did after 2008. Being billionaires is not enough for them, they want to be trillionaires. You see how much power the government has been grabbing because of the pandemic. That isn't an indication of how bad the pandemic will get, it is an indication of how bad the economy will get.
https://www.politico.com/news/2020/03/21/doj-coronavirus-emergency-powers-140023
Ok this explains the hype.
22 Mar 20
The article in the OP seemed to imply that the legislation specified: "for the duration of the emergency", which is a phrase I'm suspicious about, states of emergency can be extended indefinitely. There ought to be a specific time limit on the additional powers, such as six months.
The Isle of Man passed pretty draconian legislation, but with a time limit of 2 years on the legislation. The legislation allows them to detain people for 48 hours while they're tested and a fortnight at Noble's hospital. I think it was used on someone who was refusing to quarantine themselves, but I can't find the story.
https://www.bbc.co.uk/news/world-europe-isle-of-man-51707081