China has been LYING since day one!
On December 1st 2019, they had their first case. ONLY on December 31st, they alerted the World Health Organization. After enforcing quarantine, they LIED and KEPT on FABRICATING the numbers, not allowing social media to show what was REALLY HAPPENING and now it is BACKFIRING on them in a big way.
I had published on THREE SEPARATE occasions that there would be a SECONDARY WAVE of infections and that we must understand that this is not yet AIR-TIGHT.
The sooner you can accept the fact that we live in a new world the better. It is one where NOTHING will be the same, until the entire population gets access to a cure or vaccine, HOWEVER controversial the topic of mandated VACCINATIONS may be.
Oil prices plunged for the ENTIRETY of Q1. In the first 90 days of the year, the world’s most-traded commodity crashed by 66%. That’s the worst quarterly performance of all time.
China is the biggest loser from this, economically. The number of companies that will never trust it again is ENDLESS and I expect droves of factories to close and never open on Chinese soil again.
Cheap labor is only cheap when nightmares like this don’t occur.
I mean, talk about a life-changing event. We might not be leaving the house without a mask, gloves and hand sanitizer for a couple of years.
This virus isn’t going to just disappear from our lives. Its impact on the daily routines of billions will linger with us for years!
Let me draw you a picture of just HOW DIRE the oil industry’s situation is with most transportation in the world ON HOLD – they’re running out of places to store it!
American shale oil employs millions of people, directly and indirectly; this is an INTERNATIONAL catastrophe.
On top of that, you’ve got a wave of bankruptcies coming your way from restaurateurs, tourism companies and about 23 other professions, which will be DEVASTATING.
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I’m so saddened for the tens of millions of people that need to find creative ways to feed their children, when one month ago they were doing just fine.
40% of westerners live paycheck to paycheck and this is an EARTHQUAKE for them.
Malls, clothing stores, real estate developers, schools – the chain reaction is HUGE.
The value of our collective capitalization has SUFFERED its worst quarter in history!
This is a time that will send shockwaves throughout the world. Many families will join the ranks of the poor, while others will be psychologically scarred by Covid-19.
Judging by the number of projected death cases in the U.S. – between 100K-200K – compared to the current death toll (~5,200), we have a REAL STORM approaching.
Wall Street is now waiting for Trump to successfully push his infrastructure program through, but it is not rushing back in yet.
Look at the DREADFUL STATE OF AFFAIRS for airlines, hotels, restaurants and cruise ships.
In a recession, no one is STOPPING management from fixing past errors and moving back towards growth. In a pandemic, you are FORCED to just sit aside and watch as your life’s work is DESTRUCTED.
Right now, CEOs are shackled.
What a terrible thing to happen and I believe the worst isn’t behind us!
As you can clearly see, in past downturns, the GREEN and the RED lines intersect. Currently, people aren’t losing confidence yet and tend to think this is a PASSING PHASE.
It’s such a Black Swan that our minds are still not getting used to the new reality, but it will start to sink in very shortly, when people in your network become infected OR WORSE.
This is still not close to home for most, but it will be in 30 days.
Research Partner, PortfolioWealthGlobal.com
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