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Economic Fallout And Hope
Over 10 million layoffs recently not including reductions in working hours.
Hotels, motels, cruise ships, airlines, restaurants, taxi cabs, gas stations, many stores and businesses are either closed or have lost large amounts of customers. Mines are closing too.
This situation has been going on for several weeks, turning into months and look like they will continue for a while and even intensify going forward.
People and businesses are not able to pay their bills or staff. Loans of all sorts are going to default or become delinquent. The banks had to be bailed out in 2008 and are in much worse shape now even before the coronavirus surfaced. The US government has already increased their debt load by several trillion dollars this year to try to alleviate the situation but the problem is much greater than that. The economy is in shambles. There is no quick fix. The recovery is in jeopardy, it may take decades. The great tribulation and Jesus' return may come first.
Meanwhile we must continue on and do the best we can. Keep an eye on quickly changing behaviour patterns. People are being forced to stay home. They are working from home, shopping from home, spending their leisure time at home. Computer use is up. Internet use is up. Television viewing is up. Some businesses are booming. I own some Walt Disney Co. (DIS:US) and Zoom Video Communications Inc. (ZM:Q) because I think they will do well in this environment.
Generally speaking I expect that the stock markets will crash within the next couple of quarters or so. Gold and silver on the other hand may do exceptionally well. Many people are looking or will soon be looking for some place to put their money to try to preserve capital. Gold and silver are among the few places to go.
Another big play is the uranium market. I think and hope that electricity will continue to have a status near that of food and drink. If electricity production is to continue then uranium to power nuclear generators will be required. Right now uranium prices do not support mining it for most mines. The price must go up in order to get uranium in production so as to fill soon coming contracts by nuclear generators for the fuel. The time to buy uranium stocks is now. The risk is about as low as it gets these days.
Keep watch. Stay active. Have works. Keep the faith!
April 1, 2020 Jacques Gauvin
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