It has been a most extraordinary quarter for countries, communities, economies, and investment markets. Historically sharp economic downturns and market corrections normally occur when excessive financial conditions (the Great Financial Crises) have finally tipped over or a demand or supply shock occurs. This time the global economy has been brought to a standstill by a virus pandemic, or, more accurately - by government containment responses to the pandemic. Containment means we are having both a supply and demand shock for goods and services at the same time. This is unprecedented even by war events.
Posted: Sunday 12 April 2020