by Gary D. Barnett
A USA Today headline this morning indicated that the Dow was diving as virus concerns counter hope for fiscal steps.
U.S. stocks teetered on the edge of a bear market Wednesday as worries persisted over economies reeling from the coronavirus outbreak.”
“Concerns have grown that a prolonged outbreak may bring on a recession.”
“Goldman Sachs forecast that the longest ever bull market “will soon end” after 11 years.”
“Both the real economy and the financial economy are exhibiting acute signs of stress, analysts at Goldman Sachs said”.
Panic has certainly settled in, and that was no accident. One thing for sure in my mind is that this crisis was created, and not accidental. Regardless of the severity of this so-called virus, in the end, as has happened on multiple occasions before with MERS, SARS, West Nile, swine Flu and others, it is likely that all the wild predictions will once again prove to be overstated or downright false. But the serious economic fallout will remain. The propaganda is being pushed at every level possible, from governments worldwide, to government “health” organizations, to all mainstream media, and from all those that stand to gain from this, including the pharmaceutical companies.