I never said that this is going to turn around in 3.7 seconds of Corona being declared vanquished and everything will be sunshine, lollipops, and rainbows.
Of course there are going to be long-term, slow to heal repercussions from this.
But this mess is fundamentally different from the origins of the Great Recession, and the recovery from it is going to be dramatically different, too.
Right now the genesis for most market selling is to get money into more secure commodities, such as gold. That's why the price has risen significantly over the last quarter.
Another driver in this mess right now is the burgeoning oil war kicking off between Russia and Saudia Arabia. That's adding a huge amount of market instability. That's not going to last forever, either. That one I suspect will have longer legs, but what it will do make more money available for the average person because the price of gasoline and products moved with oil-based fuel is likely going to start dropping.
Unless Corona turns into Spanish Flu and becomes a LOT more deadly than it is, we're going to be into a very nice recovery cycle leading right upto the 2020 election.
Could I be wrong about this? Of course I could be. But until I see a lot more bad in what's happening right now, I'm not going to be going full Howler Monkey of Doom any time soon.