This is much worse than the great recession. IMO great recession was a non event comparing to what is going on now.
When will the planes start flying? Even if the infection rates start dropping I don't see borders being re opened. All we hear now is corona virus infections and deaths and possible talk of recession.
We still haven't had the reports of unemployment growing, budget deficits, bankruptcies, bank failures, corporate losses, etc etc ... This is only my opinion but I think the market has a long way to go. People are thinking the market will go up because of the massive stimulus.
Even if they get to turn things around, we will have more debt than ever. If things were very bad already with corporate, personal and governments debts they will be much much worse so the next downturn will be a total Armageddon on the world.
I frankly don't know what to do in these uncharted waters. I am just wanting to preserve my net worth and perhaps at some stage to deploy money to solid companies that haven't failed but got sold down and have good future prospects.
This is only in my opinion, not offered or to be taken as financial advice. Not recommendation. Do your own research.
SAR Price at posting:
$3.16 Sentiment: None Disclosure: Held
