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Page added on May 26, 2020
Covid is not the only crisis in town, here are six others
Important information: The value of investments and the income from them, can go down as well as up, so you may get back less than you invest.
This article first appeared in the Telegraph
Three months ago, my wife and I were enjoying a week driving round the Alentejo region of Portugal, eating in busy little restaurants and averting our gaze from what looked like a nasty situation developing in northern Italy. So much of that week seems to belong to another world. Not least, what investors were thinking about before everything else was eclipsed by our single-minded focus on Covid-19 and its implications for the economy and markets.
Six stories, in particular, mattered a great deal In February before slipping off the radar in the weeks since then. But they haven’t gone away and all of them came back last week to remind us that there’s more to the market outlook than the pandemic.
At the beginning of the year, trade tensions were top of the agenda for investors, with hopes for a partial resolution of the Sino-US stand-off driving the market to a new all-time high. With the US Presidential election only six months away, there was always a danger that America would start to flex its muscles towards China again as soon as the corona-crisis began to ease.
There is not much that the Republicans and Democrats agree on, but there is clear bi-partisan support for pushing back on China and the provenance of Covid-19 has provided an open-door for both parties to push on. If anything, the anti-China rhetoric has broadened beyond trade in goods to include financial flows ($6bn of federal retirement funds won’t now be invested in Chinese stocks), a capital war (China may be disinclined to finance America’s $1trn deficit) and export restrictions (sorry Huawei).
Back in February, another story that was front of mind was Britain’s newly-secured exit from the EU. All that remained was the small matter of agreeing a trade deal by the end of 2020. Well, when was the last time you uttered the word Brexit? If ever there was a story we were happy to push off the front pages, this was it. But it’s back and it doesn’t look any prettier than it did.
It is hard to imagine a worse outcome than a no-deal Brexit at the end of the year. But, with no-one really watching the stalled negotiations, and all the old hurdles to a decent deal still firmly in place, that looks increasingly where we are headed. It was a bad idea three months ago. It is a worse one today as the free-trade world in which Global Britain was expected to thrive retreats into national and regional bunkers and we navigate the deepest recession since the 1930s.
If the Government is using the cover of Covid to push through its chosen Brexit, it is not alone in seeing a useful opportunity. Beijing understands the value of a distraction, too, and it is using Hong Kong as a way of diverting attention from its handling of the corona-crisis and its abandonment of a GDP growth target. Last year, markets were transfixed by violence on the streets of Asia’s premier financial hub. On Friday, they started to worry again as the National People’s Congress laid out plans to ‘improve’ national security in the former colony. The 5.6% fall in the Hang Seng index was the worst daily decline in five years as investors fretted about the city’s status in the region and its future trading relationship with the US.
The fourth story that would have dominated the financial pages in recent weeks had it not been overshadowed by the pandemic is the collapse in the oil price. The two stories are inseparable, of course, because a key driver of the plunge in the cost of crude, to zero and beyond for one brief and unprecedented moment, is the temporary shut-down of the global economy. The flip-side of those beautiful clear blue skies and empty roads has been a market awash in surplus oil.
The oil story is also inextricably linked to a fifth theme that seemed much more pressing in February than maybe it does now, but which has categorically not gone away – climate change. The outlook for oil companies may have improved marginally in the near-term as the price of both Brent and WTI rises above $30 a barrel. But, as BP’s boss Bernard Loomey recently said, we may have already passed the moment of peak oil demand. It was interesting, early in the market’s corona-correction that the relative performance of stocks rated highly on environmental, social and governance factors was noticeably stronger than those that scored poorly on these measures.
The final story pre-dated the health crisis in other parts of the world, notably in the rest of Europe, but it is thanks to Covid-19 that it has now become a hot topic for investors here. We thought negative interest rates was something they did in terminally stagnant economies like the Eurozone and Japan, but last week new Bank of England governor Andrew Bailey admitted that they could be on the way in Britain too.
With the base rate at a 300-year low of 0.1%, and the economy on the brink of an unprecedented recession, charging investors to deposit their cash in the bank no longer seems so fanciful, even if there’s little conviction that it is really a good idea.
When people ask whether there is a disconnect between the stock market’s rally from March’s low point and the economic reality, they are thinking almost exclusively about the impact on growth, jobs and profits of the lockdown. While they are right to focus on this mismatch, the past week has shown that there is a pretty long queue of other challenges vying for investors’ attention. Markets struggle to focus on more than one big story at a time, but we’ll need to if we want to understand where they go from here.
104 Comments on "Covid is not the only crisis in town, here are six others"
Nutter on Fri, 29th May 2020 10:59 am
LOL@Pink Poodle.
She’s so cute Davy!
REAL Green on Fri, 29th May 2020 11:00 am
So true Nutter. So true.
LOL@Davy and his widdle Pink Poodle!
Abraham van Helsing on Fri, 29th May 2020 12:57 pm
Brexiteers should listen. They may have burned their European ship, but here is a chance to resurrect empire lite:
https://www.eurocanadian.ca/2020/05/secession-only-answer-for-canada-pei-best-option-survival-whites.html
“Secession Is The Only Answer For Canada, And Why PEI Is The Best Option”
https://en.wikipedia.org/wiki/Prince_Edward_Island
joe on Fri, 29th May 2020 5:20 pm
man, oh man. where to begin.
USA out to WHO, minnesota murder cop going down for life along with his ching chong chum. next as orange man takes down Obama, Clinton, FBI, he simultaneously throws China out of world finance by auditing China listings on NYSE, watch those roaches flee the torchlight. twitter/social media on notice to stop screeching for China. Chinese tech stealing scientists thrown out and Confusious Institutions to be closed. China attacks Indian troops and puts its knee on Hong Kongs neck. soon hong kong will die, but not before bojo hands out 3 million British Passports to Cantonese people who will thank God to get any kind of help. Pelosi, Obama, Clinton, silent on illegal occupation of Hong Kong by Chinas imeprialistic agression.
Who is the colonialist now? The Han people, thats who. Hope you all got your popcorn. Oh btw, who will the EU borrow/lend trillions of euro to now that China is being put back in its hole. I wonder if Merkel will still build Nord Stream 2 now…….
Abraham van Helsing on Sat, 30th May 2020 2:29 am
Dutch pm Rutte making fun of the WTO, where a Dutch minister Kaag is proposed to become the new head:
https://nos.nl/artikel/2335571-rutte-laatdunkend-over-topfunctie-wto-waarvoor-kaag-wordt-genoemd.html
Rutte says that he would advise mrs Kaag against it as ever more parties no longer take the WTO serious. “It is difficult to score in that function”, he said.
Note that the Netherlands is a very internationalist, globalist country. If even its pm no longer takes the WTO serious, that says something about declining globalism and the upcoming partitioning of the world in competing trade blocks (Euro, Anglo, Chinese, Japanese as the 4 most important ones).
Trump is following the same path with the WHO.
Bye-bye to the NYC-Washington-London axis as the center of the post-WW2 world. The world is going to be multi-polar.
Abraham van Helsing on Sat, 30th May 2020 2:41 am
For several weeks in a row the total weekly death toll is BELOW normal in the Netherlands:
https://www.geenstijl.nl/5153694/cbs-opnieuw-minder-doden-dan-verwacht/
That means that corona has taken with it those who were already earmarked for transfer to the Eternal Hunting Grounds and is now satisfied.
Expect that by the end of the year the total annual death toll 2020 will not differ much from other years.
Storm in a glass water.
And now for the economic fall-out.
Abraham van Helsing on Sat, 30th May 2020 3:03 am
“Donald Trump puts Army on four hour notice to deploy to US streets for first time since LA riots in 1992 as 19-year-old demonstrator is shot dead in Detroit and Minneapolis erupts for fourth night while violent George Floyd protests sweep the country”
https://www.dailymail.co.uk/news/article-8371389/White-House-goes-lockdown-amid-countrywide-demonstrations-death-George-Floyd.html
Gonna be a hot summer, all the way to November.
https://www.youtube.com/watch?v=W0wxJ4KYp64
“How The US Map Has Changed In 200 Years”
The map, that starts at US Independence (from Europe), has been stable since ca. 1920. Expect big changes coming up. Demography is destiny.
Here the map that shows the entire, very dynamic, history:
https://www.youtube.com/watch?v=0IKcS4DlaTw
To sum it up, North-American history since the last ice age:
130 centuries Mongolian colonization
3 centuries European colonization
1 century Euro-American independence
1 century Jewish colonization (“It’s a big club and you ain’t in it!”)
Expect the Europeans to return to North-America big-time.
Abraham van Helsing on Sat, 30th May 2020 4:52 am
Van Jones, eloquent as always, unintentionally sums up why his racial-egalitarian desires won’t materialize. Accuses whites of having an anti-black “virus”. He thinks that white-liberal Hillary-voters are more dangerous than your average KKK-hick from, say, Missouri:
https://edition.cnn.com/videos/us/2020/05/29/van-jones-george-floyd-white-liberal-hillary-clinton-supporter-sot-newday.cnn
Van Jones is referring to her:
https://www.dailymail.co.uk/news/article-8368083/Former-colleague-Amy-Cooper-says-tried-ruin-life-bogus-lawsuit.html
“EXCLUSIVE: Former colleague of Amy Cooper reveals how she tried to ‘ruin his life with bogus lawsuit and threatened his family when he said he didn’t love her'”
Note that the DailyFail only allows THREE comments, where hundreds if not thousands are the norm, perfectly illustrating what the western media agenda really is: ethno-communism.
Message to Van Jones: it didn’t work in Yugoslavia, Iraq, Ukraine, Syria, Palestine, Turkey-Kurds, Lebanon, USSR. Humans are tribal, all of them. White America, that “nation of immigrants”, is about the last demographic to find that out.
Van Jones, the future African-American president of the South-East, capital Atlanta.
Davy on Sat, 30th May 2020 4:54 am
“Donald Trump puts Army on four hour notice to deploy to US streets ”
There goes the neighborhood…
Abraham van Helsing on Sat, 30th May 2020 5:43 am
Here a Brian Stelter from CNN, launching an anti-Trump hit:
https://www.youtube.com/watch?v=JUQjd24hWMo
Quiz-time… what do you think Stelter his background is?
1. Belgian catholic
2. Manhattan hebrew
3. Sikh American
4. German protestant
Hint: it is not #3, although you are excused to think so.
Send in your answer and if you are correct, you will receive a free Google navigation route to a holocaust museum near you.
JuanP on Sat, 30th May 2020 5:44 am
Donald Trump puts Army on four hour notice to deploy to US streets
There goes my Island slum…
Davy on Sat, 30th May 2020 8:30 am
At least you can make a getaway by boat juanPee.
I’m kinda screwed.
Abraham van Helsing on Sat, 30th May 2020 8:38 am
“I’m kinda screwed.”
According to Kunstler Missouri is the best place to survive in situations like the one that is developing.
A bit like with us in the Drenthe province:
https://i.pinimg.com/originals/7d/f7/cb/7df7cb60aefd9bf3d50fe66d30a35285.jpg
Abraham van Helsing on Sat, 30th May 2020 8:42 am
Mexican flag wavers at the CNN HQ:
https://tinyurl.com/y7ld8gt2
Abraham van Helsing on Sat, 30th May 2020 8:51 am
Our thoughts and prayers are with Floyd, may the Good Lawd have his poor soul!
“He was apparently accused of forgery by a restaurant owner. He has an arrest record that includes armed robbery. Standing 6’6″, the former high school football star was employed as a bouncer, but laid off due to COVID-19 restrictions”
JuanP on Sat, 30th May 2020 11:48 am
I don’t have a getaway by boat but it sounds cool
I’m screwed.
Abraham van Helsing on Sat, 30th May 2020 11:59 am
Purchasing power distribution EU. The big winner is Germany:
https://twitter.com/seven__/status/1201575989018583040/photo/1
Davy on Sat, 30th May 2020 12:05 pm
I thought you had a yacht jaunPee.
JuanP on Sat, 30th May 2020 12:11 pm
I tell people I have a sail boat just like I say I have a farm. I tell people I am a yoga guru, I tell them I speak 4 languages. This is all lies. The reality is I am a school drop out feeding off Americans like a leach and proud of it.
Davy on Sat, 30th May 2020 1:41 pm
I tell people I have a farm in Italy. I tell people I have a 1000 acre farm in Misserua. I tell people I have a Lear Jet. I tell them I am intelligent and have traveled the wurld. These are all lies. The reality is I am a dumbass goatshitter hillbilly living in a hillbilly shack feeding off canned beans like grinning hillbilly and proud of it.
Abraham van Helsing on Sat, 30th May 2020 2:05 pm
Minneapolis the cleanup: all Euros
https://mobile.twitter.com/MattFinnFNC/status/1266780532681199622
makako on Sat, 30th May 2020 2:47 pm
congrats to whitey supertard president elon musk and america
if supertard makako wants the rd-180 engine he can keep it
Duncan Idaho on Sat, 30th May 2020 3:12 pm
“Normal is cheap flights and cheap lattes, normal is Chinese girls sewing our T-shirts under armed guard, normal is biblical bushfires and barrels of oil, normal is city breaks and international conferences and African children poisoning their bodies sorting the plastic we have dumped on their coastlines, normal is nitrite pollution and burning stumps and the death of the seas.”
Abraham van Helsing on Sat, 30th May 2020 5:01 pm
Slowly the historic truth comes out:
https://www.dailymail.co.uk/news/article-8372649/The-90-minutes-Hitler-came-closest-winning-WWII.html
“The 90 minutes when Hitler came closest to winning WWII: As British troops faced annihilation in Dunkirk, Churchill learnt his Foreign Secretary wanted a peace deal with Germany… triggering a battle of wills at a crucial War Cabinet meeting”
Note that the DailyFail only allows ONE comment, where normally thousand or more would have been posted, especially on a “controversial topic” like this.
The big secret is that WW2 was Churchill’s war and Roosevelt and Stalin’s war, not Hitler’s war.
The reason why Hitler did not annihilate the British troops was that he didn’t want escalation. He had defeated the British and French troops and had offered peace, meaning “group hug and everybody going home”. But Churchill was not interested. He knew he had the US and USSR on his side and their only problem was to find a suitable moment to enter the war and colonize Europe in the interest of the globalists=communists=jews.
At least the DailyFail admits it was a close call and that Britain had zero interest in fighting a war that would in the end cost them their empire and would be in the interest of the US and USSR only. Churchill, the best politician jewish money can buy, is the greatest traitor Britain ever had within its walls. In reality there was a lot of nationalist resistance in Britain itself that had zero appetite in the war:
https://www.youtube.com/watch?v=9ZBfEcQgULI
All for nothing. We had to wait for 3 generations and the dismemberment of both the USSR and now the US, before Europe would be liberated again.
Duncan Idaho on Sat, 30th May 2020 5:10 pm
Hint:
“An idea is something you have; an ideology is something that has you.”
– Morris Berman
Davy on Sat, 30th May 2020 5:37 pm
“The big secret is that WW2 was Churchill’s war and Roosevelt and Stalin’s war, not Hitler’s war.”
bullshit, they all wanted war. Hitler was a maniac and you admire him. This explains your derangement.
JuanP on Sat, 30th May 2020 5:45 pm
Davy, I am not coming out to play today because my depression is in the red zone. I am very very anxious. I feel like I am going to end up homeless and helpless.
SocialRevolutionComing on Sat, 30th May 2020 5:52 pm
Chinese Cheating Rampant In US College Applications, And In Classrooms
“Cheating is pervasive in China, driven by hyper-competitive parents and aggressive agents,” Tom Melcher, the chairman of Zinch China said.
https://www.zerohedge.com/personal-finance/chinese-cheating-rampant-us-college-applications-and-classrooms
Sock Buster on Sat, 30th May 2020 5:53 pm
SocialRevolutionComing = juanPee
Abraham van Helsing on Sat, 30th May 2020 5:57 pm
More closet anti-white shit from media heeb Bill Maher:
https://www.youtube.com/watch?v=PUkwFZHjk9w
makati1 on Sat, 30th May 2020 5:58 pm
“The big secret is that WW2 was Churchill’s war and Roosevelt and Stalin’s war, not Hitler’s war.”
BINGO! Finally, someone who knows the real history of WW2. WW3 will be Amerika’s war as no one outside of some demented Jews want another one, but if they start it, Amerika will be nuclear rubble the first day. Then debt and diseases will be forgotten by the few who survive to die from cancers.
makati1 on Sat, 30th May 2020 6:02 pm
BTW: ZeroHedge is a Sinophobic web site and a pusher of propaganda and lies. I read some of their articles with the knowledge that the truth is twisted in favor of Delusional Amerika.
They also post financial (usually selling something) and other good articles, but I always check to see who signs the paycheck. Disinfo is rampant on the internet, just like Davy’s bullshit is on PO.
Abraham van Helsing on Sat, 30th May 2020 6:03 pm
“bullshit, they all wanted war. Hitler was a maniac and you admire him. This explains your derangement.”
Germany wanted German territories back.
America and USSR wanted Europe.
Meanwhile 75 years later, the USSR is Kaputt. And now you are next.
The charade is coming to an end.
Expect to be attacked from ALL sides, inside and outside the US. The whole world smells empire blood. Your darkies are going to blow up the entire place for us folks in Eurasia.
Duncan Idaho on Sat, 30th May 2020 6:14 pm
“If an assembly of rubes and loons grows too large, as it did within the Republican Party in 2016, the so-called leadership will no longer be able to control them and, for the sake of their own survival, will simply join the mob.”
SocialRevolutionComing on Sat, 30th May 2020 6:17 pm
“Far-Left Or Anarchists” – Intelligence Reports ID Rioting Protesters; Mostly Locals Arrested
Despite claims by Democratic officials from Minneapolis that “white supremacists” or “foreign actors” are responsible for the violent riots seen across the nation, USAToday reports that Adam Leggat, a former British Army counterterrorism officer who now works as a security consultant specializing in crowd management for the Densus Group, said intelligence reports from his colleagues indicate most of the hard-core protesters in Minneapolis are far-left or anarchists, and that far-right groups have not yet made a significant appearance.
“The real hard-core guys, this is their job: They’re involved in this struggle, they need protests on the street to give them cover to move in.”
Additionally, Leggat said looting is typically done by locals – usually people with no criminal record who just get caught up in the moment. And despite claims otherwise by officials, records show most arrested are locals…
https://www.zerohedge.com/political/they-are-outsiders-minneapolis-officials-blame-white-supremacist-terror-cells-rioting
Abraham van Helsing on Sat, 30th May 2020 6:18 pm
““If an assembly of rubes and loons grows too large, as it did within the Republican Party in 2016, the so-called leadership will no longer be able to control them and, for the sake of their own survival, will simply join the mob.””
Duncan still is in one country with these “white rubes and loons”.
Until he no longer is.
Enjoy your coming downfall towards Brasil status.
Davy on Sat, 30th May 2020 6:19 pm
“BTW: ZeroHedge is a Sinophobic web site and a pusher of propaganda and lies. I read some of their articles with the knowledge that the truth is twisted in favor of Delusional Amerika.”
actually, no, they tend to be anti-American but recently China is such a mess and so bad with many issues they are making the news on Zero Hedge.
Davy on Sat, 30th May 2020 6:21 pm
“Disinfo is rampant on the internet, just like Davy’s bullshit is on PO.”
Translation: A whining old man because his lies and embellishments won’t stick with me around to moderate them. Dumbass tell us about the CIA virus and tell us how the Chinese virus was not shit! LMFAO
SocialRevolutionComing on Sat, 30th May 2020 6:26 pm
Pew: Democrats Represent 41 Of 44 Districts With Highest COVID-19 Death Tolls
Pew Research Center is out with an analysis of coronavirus deaths. It shows they are overwhelmingly concentrated in Congressional districts represented by Democrats. Democrats represent 41 of 44 districts with the highest number of Covid-19 deaths. This lopsided distribution could help explain a partisan divide in the views regarding whether a national shutdown was the right move, and whether it’s time to end it.
https://www.zerohedge.com/health/pew-democrats-represent-41-44-districts-highest-covid-19-death-tolls
Anonymouse on Sat, 30th May 2020 6:28 pm
NASA Astronauts Successfully Blast Off Into Space On A SpaceX Rocket
https://www.zerohedge.com/technology/watch-live-space-x-and-nasa-prepare-historic-launch
At precisely 3:22pm ET, SpaceX’s NASA Flight launched successfully from Cape Canaveral, marking the first NASA crew bound for orbit from the US in 9 years, heralding a new era in human spaceflight and forging a new landmark for NASA and Elon Musk.
I AM THE MOB on Sat, 30th May 2020 6:48 pm
German Official Leaks Report Denouncing Corona as ‘A Global False Alarm’
https://www.strategic-culture.org/news/2020/05/29/german-official-leaks-report-denouncing-corona-as-global-false-alarm/?fbclid=IwAR38WTecCLZ1fCtMZU6Yf3A92cdytlv87inSKyuXyFnkAJwm2wu_U8lIWWA
I know people who get the flu every year and I hear about it, yet this highly contagious global pandemic seems strangely absent from everyone’s lives, except in media.
The trains are coming and the ovens are warming up!
I AM THE MOB on Sat, 30th May 2020 6:50 pm
A virus has taken away all of your rights and that virus is Government.
Davy on Sat, 30th May 2020 8:15 pm
Elon Musk is my hero annoy. Even if he is an African-Canadian.
Duncan Idaho on Sat, 30th May 2020 8:33 pm
“The increasing dependence of Republican politicians on a shrinking, embattled white evangelical base already given over to faith-based belief systems and racism-tinged “city on a hill” ideology has only exacerbated the phenomenon.”
Duncan Idaho on Sat, 30th May 2020 8:37 pm
one day we were selling them
so much killing hardware
their governmental teeth
were eroding with the metallic grind
but their appetites increased…
— Grace Paley, excerpt, “Leaflet”
whoa on Sat, 30th May 2020 9:39 pm
supertard makako
y u lie so much?
Anonymouse on Sat, 30th May 2020 9:51 pm
That was davy the dumbass on Sat, 30th May 2020 6:28 pm
IoW, it was not me.
When will Deranged davys socking the intelligent posters reach a peak? Not anytime soon if his erractic and lunatic behavior here is any indication.
makati1 on Sat, 30th May 2020 10:00 pm
Anon, it is just another failure of Amerika. The insane are loose and the sane are in lock-down.
SocialRevolutionComing on Sat, 30th May 2020 10:07 pm
Look at US protests.
COVID hoax is working so well for globalists and industrialists like Klaus Schwab, Soros, Gates, Trudeau and so.
https://www.weforum.org/about/klaus-schwab
World economic forum has so much money donate by globalists that they can hire 700 people full time. Look at the link above if you don’t believe me
The Forum employs over 700 people, with its headquarters in Geneva, Switzerland, and additional offices in New York, San Francisco, Beijing and Tokyo.
whoa on Sat, 30th May 2020 10:17 pm
That was davy the dumbass on Sat, 30th May 2020 9:39 pm
IoW, it was not me.
When will Deranged davys socking the intelligent posters reach a peak? Not anytime soon if his erractic and lunatic behavior here is any indication.