Amigo, thanks for the great work. IMO there is a strange unreality about the current crisis. Hibernation, snap back, $1,500 p.f. payments for not working, no evictions, no rent payments, effectively zero interest, free child-care, doubling of new start, and QE already underway, etc. And most of these changes occurred in just one fortnight! And at the same time, we hear talk of vaccines, drug trials, and flattened curves (except in USA). The "panic" that we see could be igniting a scenario which is different to the Great Depression or any other downturn. In the 1930s governments took years before they spent their way out of the crisis. Now they are preempting the scenario and expanding the money supply from the get go. Sooner or later, investors could realise that cash is losing its relative value. And given that Investors are always trying to second-guess the market, they may be looking for something better than cash. Gold? Property? Stocks? Could greed and FOMO be emerging at a faster rate (and with greater momentum) than predicted from previous times? And do people have patience which lasts longer than the mornng session?
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