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How To Weather The Coming COVID-19 Recession
It will be known in future years as the coronavirus recession of 2020 or the COVID-19 Global Economic Slowdown, or maybe it will be called something else. After the events of these past weeks, there can be no doubt in anyone’s mind that there is going to be a recession in the United States and perhaps globally. It is better to accept this fact now and be prepared for the inevitable than to be caught by surprise.
Before I continue, I want to draw the distinction that the stock market is not the economy. As much as Americans like to watch the market numbers as if we are all hedge fund investors, the vast majority are not. Despite what the market continues to do, whether that be extending the historic selloff or tries to bounce back, the economy has already suffered insurmountable damage for 2020.
Consider for a second where we are in terms of the virus’s progress in the United States. There are only a couple of thousand confirmed cases and a few dozen deaths. A quick look around the globe will immediately tell us that even if we blunt the growth and spread of the virus better than most, we are at the beginning of its spread here in the States.
The worst-case scenario being floated right now is 1.7 million dead and millions more hospitalized. Hopefully, that is not the case, but if it is, that outcome is many weeks if…
