This is our era of destruction.
- 40 million unemployed in the U.S. and climbing.
- 100,000 Americans dead by COVID-19 and rising.
- Citizens caught between the virus hoaxers and the zero risk medical zealots. Reopen or lockdown?
- Inept and corrupt politicians.
- Politically-biased media.
- Entrenched racism, poverty and serfdom.
- A hollowed out middle class ruled by oligarchs.
- Protests like the summer of ’68. Everyone thinking the other side is fascist.
- Nasty fight going into Presidential election. Perhaps nasty fight afterwards.
- Extreme geopolitical tensions.
The COVID-19 crisis has accelerated The Fourth Turning (free three part explainer series on YouTube). Government responses have been unprecedented. The formerly independent Federal Reserve Bank has been taken over in a silent coup by the U.S. Treasury and the Administration. Injecting trillions into the markets has provided liquidity. The money has found a home in stocks and other asset classes. The government has bailed out the zombie companies on Wall Street, but done little to help small businesses, their entrepreneurs and employees. The U.S. stock markets do not reflect economic reality. They will eventually as liquidity will not convert into company earnings or solvency.
It is going to get worse before it gets better. Crises create change. Be a critical thinker. Mind your assets.