👉 The Global Recession Has Begun
Channel: The Nomad Economist
Date: 14/03/2020

👉 The Global Recession Has Begun 

We just witnessed a global collapse in asset prices the likes we haven’t seen before. Not even in 2008 . All these prior beginnings of bear markets happened over time, relatively slowly at first, then accelerating to the downside.

This collapse here has come from some of the historically most stretched valuations ever setting the stage for the biggest bull trap ever. The coronavirus that no one could have predicted is brutally punishing investors that complacently bought into the multiple expansion story that was sold to them by Wall Street. Technical signals that outlined trouble way in advance were ignored while the Big Short 2 was already calling for a massive explosion in $VIX way before anybody ever heard of corona virus.

Worse, there is zero visibility going forward as nobody knows how to price in collapsing revenues and earnings amid entire countries shutting down virtually all public gatherings and activities. Denmark just shut down all of its borders on Friday, flight cancellations everywhere, the planet is literally shutting down in unprecedented fashion.

The message is clear: The global recession has begun.
"We have to get used to the fact that we are going into a global recession. Hopefully it will be short lived, but I can't see how we will avoid a global recession," says Mohamed El Erian.
The damage is not theoretical, it’s real as we just saw the fastest collapse in asset prices in history:
And it’s global, deep and pervasive.


#coronavirusoutbreak #Covid_19
👉 For the full transcript go to https://financearmageddon.blogspot.com
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