Long Term Spy Prediction - COVID-19-> Economic Depression(maybe)
If the rally at the 61.80% fib level does not rally hard enough we will certainly see a farther downturn. There is a coronavirus cure being talked about and trials in Australia start at the end of March. China is already using the HIV and Malaria drugs to combat the respiratory symptoms people have with success.
However, it takes a long time for drugs to go through testing so by the time it is complete the damage will already be done. At the beginning of the outbreak and quarantine I believed there to be signs of a 75% pullback on all gains made in 2019, it has already pulled back 100% on the year.
The overconfidence in the markets after a 10 year upturn is what caused this in the end. Now though there will be a slow down in consumer buying in the market as well as in spending on consumer goods. Debt is still at an all time high and soon unemployment will jump through the roof regardless of a cure or not. With people unable to pay their bills and unable to find jobs they will be unable to spend money. (I know life changing ideas)
I may be too short term on this prediction but a 75% pullback in all markets is entirely possible. If this were to happen in such a short time frame we could see a market crash that rivals 1929. The key to this insane idea is that this is a global pandemic. This is the first time the world has ever quarantined itself and we were not prepared.
I see this worst case scenario occurring end of April or mid May. This would also be the last chance for recovery.
https://www.dailymail.co.uk/news/article-8115879/COVID-19-Australian-researchers-CURE-coronavirus.html
https://en.wikipedia.org/wiki/Quarantine
https://www.ted.com/talks/bill_gates_the_next_outbreak_we_re_not_ready?language=en Bill Gates Predicts the Outbreak
However, it takes a long time for drugs to go through testing so by the time it is complete the damage will already be done. At the beginning of the outbreak and quarantine I believed there to be signs of a 75% pullback on all gains made in 2019, it has already pulled back 100% on the year.
The overconfidence in the markets after a 10 year upturn is what caused this in the end. Now though there will be a slow down in consumer buying in the market as well as in spending on consumer goods. Debt is still at an all time high and soon unemployment will jump through the roof regardless of a cure or not. With people unable to pay their bills and unable to find jobs they will be unable to spend money. (I know life changing ideas)
I may be too short term on this prediction but a 75% pullback in all markets is entirely possible. If this were to happen in such a short time frame we could see a market crash that rivals 1929. The key to this insane idea is that this is a global pandemic. This is the first time the world has ever quarantined itself and we were not prepared.
I see this worst case scenario occurring end of April or mid May. This would also be the last chance for recovery.
https://www.dailymail.co.uk/news/article-8115879/COVID-19-Australian-researchers-CURE-coronavirus.html
https://en.wikipedia.org/wiki/Quarantine
https://www.ted.com/talks/bill_gates_the_next_outbreak_we_re_not_ready?language=en Bill Gates Predicts the Outbreak
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