$3.90 valuation by GS updated, page-400

An interesting read about the likely fallout of the so called stimulus package and why its probably good to hold gold long term and forget about the daily gyrations.

A couple of the headlines:

"We really need to think about more direct payments to people...70% of GDP is consumer spending...in the US the consumer has a tremendous capacity of leading the way. Instead were giving money to companies to give to consumers,"

"I think we'll see large waves of layoffs heading into Christmas 2020," he said. The response to the virus is one example of where developing nations responded much more efficiently and effectively than large nations, Chamath said."

"Here's what I see. I see delinquencies ticking up...I see hundreds of thousands of people getting furloughed...I see us appraoching 25% unemployment...and I see the stock market largely because of the practices of the Fed ignore what is happening."


https://www.zerohedge.com/geopolitical/chamath-slams-incompetent-executives-buying-back-stock-debt-explains-why-what-fed