👀 Is the "light at the end of the tunnel" close or still far away!? Financial & Crypto Markets
The pace of the virus is increasing fast as it takes us now less than 5 days to add 1mn more cases ! We reached 12mn and half a million deaths. This is getting quite bad.
COVID-19 mortality is trending back up !
This pandemic does not seem to be willing to stop and many companies are laying off thousands of employees as it seems clear for some industries that there will be no short-term V-shaped recovery !
Every morning I wake up and look at corporate news. I see at least 4-5 big public companies per day announcing massive layoffs.
Mostly in these different sectors:
- Aeronautic
- Airlines
- Tourism (Hotels...)
- Automobile
But I also see a bunch of companies not directly affected by COVID19 using it or being worried about the future and laying off also thousands of employees through different plans.
They could be from very different sectors. Lately I have known about Nokia, Sanofi, Tesco...
USA
As most of you know, US daily new cases have reached an ATH recently and this should continue in the following days/weeks as appropriate measures are not taken.
D.Trump was bragging about a falling death rate in the US. He was right but it seems it is at an inflection point !
I know I have been quite pessimistic about Financial & Crypto Markets lately and I continue ti be despite the money printing frenzy from Central Banks.
I believe millions of jobs are LOST and will not come back for years, this will impact consumption and other jobs.
I will continue to stay away from Markets even if I have been not so right about Crypto Markets (Bitcoin stayed stable but Altcoins boomed).
When I do not understand, I cannot invest.
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Same here mhn, when i dont understand i dont invest.
Guess what? My dad thinks the economy will get better, my dad believes Trump opening up states....
Thats even the least of the problem, they are planning to re-open schools in Nigeria....................
What the heck mehn......everyone is driving me crazy!
Well Media is powerful isn't it?
Just read an article about WHO with a big picture of the budget of the organisation with the Top 5 contributors. I was surprised not to see China.
Guess what, they took the 2016-2017 budget ! They have the 2019-2020 or the 2018-2019 ! They just purposely decided to take the 2016-2017 where China is not a top 5 contributor...
Is it just incompetence? or they do not want people to make the link?
Idk...
Cheers mate, let's try to stay smart and critical in this world where people are getting dumber and dumber....
Its just tiring, really. 😩I'm actually tired
It might do some good having an optimistic dad around bro
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Not in this situation, look around us see what is happening, optimism will not change one thing in the next 1year. Rather lets be realistic and take pragmatic steps to secure our future. It makes us fight a lot lol. Realism/optimism.....theres time for everything
I think I will rather hear some optimism than "It is bad" all the time which will be making everything bad around me. The reality to needs not be ignored.
Enjoy your evening guys I got a small one week project for a week which came in just in the nick of time as i have run out of funds for surviving due to this fucking covid mess.
Safe mate.
One could put me squarly in the Eternal Optimist Camp, yet perhaps that should be overlaid upon my world view or more exactly my view of the coming of Ages.
When fire was tamed by our ancient ancestors there was no going back. The world was about to change. Each Age brings with it its own influences. The Industrial Age brought a strong influence of centralisation while the Information Age is bringing to the forefront decentralisation. There is no going back. The world is changing because the Age is changing. We humans take too much credit. My advice is to just be positive, prepare for the journey and enjoy the ride. We are about to bring both feet squarely down into the Information Age.
I do agree with you on this one @novacadian hope you are keeping well.
Very thoughtful way to see life and the human adaptability @novacadian !
Let's stay positive :D
The job losses are on the rise and not stopping any time soon. ALTs are in green land with BTC pushing towards $9.5k hopefully it gets momentum for a bull run.
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My feeling is that holding fiat is no longer an act of sitting outside of the market, but potentially one of the more risky exposures that one may have in the current state of world economy. 😎
Amen 🙏 ! Beautifully formulated.
Thanks for this comment.
Mate I cannot state my opinion considering current situation. Firstly, people do not care about the pandemics as before and countries started operating like the period before the virus. However, the second wave that will bring drastic increase in the number of death will make the way clearer for me. For nuw, everything is blury :I
Same here ! Hard to make a summary as there are so many pros and cons !
I am LOST
despite this pandemic a big inflation storm is also on the way due to printing currency notes out of nothing