2020 Potential Economic Collapse
Posted: Sun Mar 08, 2020 2:41 pm
If the virus wasn't enough to consider, there is a lot of discussion at the moment about the potential for economic collapse in 2020, and happening very much sooner rather than later.
Until a few weeks ago the general consensus was that there would be no serious market downturn until after the Nov elections in the U.S. but this weekend that has changed and expectations are now very different, with many pundits forecasting major impacts within the coming few weeks.
In thirty five years I've never experienced anything like the market volatility we have seen these past few months and the sense of fear among bankers, traders and dealers is palpable. The vulnerability of the global supply chain and JIT system has been clearly exposed and its seizure is now threatening our very way of life.
Most people believe (have been told) that another financial collapse will not be allowed to happen and that after the recession of 2007 sensible precautions and banking restrictions had been put in place to ensure that was the case. Unfortunately that is very far from the truth and we are now in a truly dreadful situation with colossal amounts of debt and global uncertainty combining to make a collapse very likely in the coming weeks or months.
If you have any spare time to think at the moment, you might want to consider what another major economic upheaval might be like, on top of everything we have going on at the moment. I certainly wont be leaving any surplus cash in the banks for a while.
Can you remember the economic downturn of 2007?
How did it effect you?
Are you in a position to do anything differently this time?
Not like we have anything else to deal with is it?
Until a few weeks ago the general consensus was that there would be no serious market downturn until after the Nov elections in the U.S. but this weekend that has changed and expectations are now very different, with many pundits forecasting major impacts within the coming few weeks.
In thirty five years I've never experienced anything like the market volatility we have seen these past few months and the sense of fear among bankers, traders and dealers is palpable. The vulnerability of the global supply chain and JIT system has been clearly exposed and its seizure is now threatening our very way of life.
Most people believe (have been told) that another financial collapse will not be allowed to happen and that after the recession of 2007 sensible precautions and banking restrictions had been put in place to ensure that was the case. Unfortunately that is very far from the truth and we are now in a truly dreadful situation with colossal amounts of debt and global uncertainty combining to make a collapse very likely in the coming weeks or months.
If you have any spare time to think at the moment, you might want to consider what another major economic upheaval might be like, on top of everything we have going on at the moment. I certainly wont be leaving any surplus cash in the banks for a while.
Can you remember the economic downturn of 2007?
How did it effect you?
Are you in a position to do anything differently this time?
Not like we have anything else to deal with is it?