The COVID-19 was a stunning success. It’s spreading like wild fire and longs are getting HOT, ROLLED, and STEELED this morning. Investment advisors around the country, fat and coddled by a decade plus of uninterrupted decadence, are about to feel what it’s like to be in a BEAR MARKET.
Nothing can stop the selling. Not even Cramer knows what to do.
So where do we go from here?
Lower, much much lower.
Businesses have stopped selling things. Loss projections at the airlines are going to be in the order of $113b. Next up, targeted loans aka bailouts, for airlines and cruise ship companies. Retailers will begin to layoff workers and the recession will take its hold. The only question is, will this fear last long enough to do permanent damage or will it pass quickly enough to resume our retarded Fed induced buying bonanza?
Truth is, I don’t know. I can only tell you what’s happening now. For a much deeper concern, let’s keep a close eye on credit markets, particularly SRLN for leveraged loans and HYG for junk bonds. The 10yr bond is 0.94% and that’s not normal.
Dow futures are -722. Welcome to the best of times.
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This could get ugly!
I’m starting to get involved here with like 1/5 positions.
My view is this will ravage the entire norther hemisphere for the next 3 months and then it will transition to the southern hemisphere with a major head of steam and do worse damage for 3-6 months and then likely come back next winter for the norther hemisphere. I truly think this is the biggest economic impact there will ever be and there is no fixing it. There is soooooo much easy money bad debt out there that is going to default in this country and especially emerging markets. Governments, small businesses, layoffs galore, productivity numbers tanking. Massive worldwide depression
Fuhrer Trump told his followers to go back to work if they feel sick. His best advice since his small-dicked inauguration.
Dear Leader has a hunch and that’s good enough for me!