Backup for Tabs
 

https://www.zerohedge.com/markets/crash-2000-now-worse-great-depression

from the article:

Back in December, someone in China made bat soup (at least according to the officially accepted narrative that doesn't get you banned on Facebook, Twitter, etc), and the rest is history: in the next three months, the global equity market has lost $24 trillion in value, more than the $22 trillion in US GDP. And here is a staggering chart from BofA putting the crash of 2020 in its historic context: in the past month, the US stock market has crashed faster than both the Great Depression and Black Monday, and in terms of the total drawdown, the crash of 2020 is now worse than 1929 and is fast approaching 1987.

This crash isn't due to debt levels.

If we had zero debt we would still be in deep chit.

If the US debt levels were low to moderate there would be fear and loathing where Equities would be under pressure. BUT it would not be crashing down around our ears with daily panic selling.

During the 3 waves of the Spanish Flu in 1918 which infected 500M people or 27% of the worlds population and killed some 50M people which was 1.7% of the worlds population to put it into perspective. The impact on Equities was minimal...

https://www.globalfinancialdata.com/the-spanish-flu-and-the-stock-market-the-pandemic-of-1919/


"However, the impact of the Spanish Flu on the stock market was minimal"

The reason why we see massive panic selling is that the underlying anxiety about the economy which has existed since 08 has surfaced. Everybody knows that things are just not right since the crash of 08 and the CV is the catalyst for the panic. The worry is that on the back end of this virus the world economy will not be able to pick itself up again.

Debt levels aren't causing the current meltdown. Debt levels will severely affect the ease of coming out of this mess.

What ever floats your boat cup cake..you keep on thinking it...

Businesses are closing up shop for an unknown amount of time. Revenue and profits won't be worth a crap. That is why the markets are going down. With zero debt the markets would still be getting killed when revenue and profits get slammed.

It most certainly is...the panic at the consumer level imo. "Save for a rainy day"....can't when on the credit wagon imo. All levels....

It's raining....

New Zealand has little debt. Their markets should be holding up well.


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