GOLD 0.51% $1,391.7 gold futures

I hope everyone is having fun with all their reactionary...

  1. 1,507 Posts.
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    I hope everyone is having fun with all their reactionary predictions , million dollar gold and numbskol's 1 minute charts and denial of reality . What needs to be looked at is the big picture down the road , there have been a few interviews on some business sites and channels by seemingly level headed people discussing the downturn in company revenues and output for the second and third quarters this year if covid-19 is contained now and business is back to normal. It is now obvious that things are getting out of control and the reluctance of the again incompetent WHO to call a pandemic .
    The worlds indices are approaching a 10% decline in just a couple of days and doesn't look like abating , yields are declining towards negative and CB's are at their limits . There is so much arrogance in the financial world at the moment you will probably see an immediate rise in indices and bonds when they call the covid-19 under control with little regard for future company reporting . My personal opinion is we will see a steady decline in the markets over the next 12 to 18 months of up to 40 % , which brings another question , Australians superannuation , approximately $120 billion wiped off the stock market in the last few days , now how is this going to play out with retirees and superannuates whose statements read , sorry about the negative return but we got the flu . A lot of people will make a rush on their funds to self manage or under the mattress scenario causing massive flow on effects to our already struggling economy . Fund managers will be called to account by the consumer and we can see class actions everywhere.
    Nobody wants this scenario to play out ,but I am afraid it is to late . Our greed driven world financial systems only have them selves to blame , buying into the future on borrowed or pension fund money with no contingency plan for a rainy day . I really hope this is shakeout we need to restore some sensibility in investing , ie tangible assets.
 
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