This will be an extinction-level event for many players
by Adam Taggart
Chris Martenson’s Peak Prosperity
For years, Peak Prosperity has been raising a loud warning of the ‘Everything Bubble’ that the world’s central banks have blown in global asset prices.
Over that time, we’ve debated with hundreds of economic experts on what will be the trigger to “pop” this mania.
Well, now we’re finding out.
The economic damage being wrought worldwide by the coronavirus is the black swan the system never saw coming. Trade is being strangled, and the necessary productivity needed to support that massive increase in global debt that has been taken on over the past decade is just not there.
Bankruptcies are set to ripple across industries like wildfire. Mass layoffs will return with a vengeance. For certain industries — like travel, hospitality, and the shale oil drillers — this will be an extinction-level event for many players.
As ugly as the swift -19% drop in markets from from February’s highs has been, this is just the start of the reckoning, folks.