Ann: Continued spectacular intersections support Deflector growth, page-51

I think COVID19 is only the catalyst for the rising POG. As global growth stalls (regardless of the reason) there are always cos that have too much debt and coupled with a period of slow growth or recession, those cos go to the wall. Due to debt levels being very high globally, it doesnt take much for the music to stop within the leveraged areas of the fin markets. Its all ok when the expectation for growth is realised, but not so when that expectation doesnt materialise. I think its more the debt levels that will be the problem going forward rather than the slowing of the economy itself. Already seeing China ready to/having to prop up their economy during this crisis. The POG is rising because some people are getting worried about levels of debt. It will take a long time to fully play out and with central banks and govs willing to pump money into the system for a while to keep it all going, we could see rising stock markets and rising gold price for some time to come yet. I believe we are in the mania phase of the stock market which could still take a yr or two to run its course but with a shock like Coronavirus and its affects on supplies and global economy, we might see this as a trigger for a wider downturn in the future.