Social Distancing

James Clear, the author of Atomic Habits gives some interesting advice on how to practice quality social distancing on social media:

"You can practice social distancing on social media too. Stay away from people who are infected with negativity, a lack of generosity, an unwillingness to seek truth, etc."

The Coronavirus Crisis Will Be Fatal

Interesting comment made by Peter Schiff on how fatal this virus induced crisis will be for all of us:

"I was against QE, ZIRP, and bailouts in 2008 because I knew that instead of allowing the economy to restructure, those mistakes would exacerbate the structural imbalances that led to the crisis. Since we didn't swallow the medicine then, the #Coronavirus crisis will be fatal now."

Corona Crisis: Many Companies Will Need Bailouts

Jim Rogers commented on the current crisis on RT.com. The legendary investor expects airlines and shipping companies to be bailed out and that we are headed toward the worst financial crisis of our lifetimes:

I told RT earlier that the next time we are going to have a financial problem it’s going to be the worst… it appears we are headed toward the worst financial crisis of our lifetimes. We will know in a few months.

"Companies with big debts are especially vulnerable at this time."

"Companies participating in international trade in particular will have serious problems. Some of them will be bankrupt. Major airlines and shipping companies will probably be bailed out because it would otherwise be embarrassing for the countries."

The Worst Financial Crisis Of Our Lifetimes

Jim said in a recent interview that due to the recent developments with the COVID-19 spreading through the Western world, we are heading to a major financial crisis. Read the complete article here: ‘We’re Headed for the Worst Financial Crisis of Our Lifetimes’ – Jim Rogers 

This Crisis Is Economic, Not Merely Financial

Peter Schiff explains that this crisis is not "merely" a financial crisis like in 2008 but an economic crisis with much bigger repercussions:

The financial crisis of 2008 was a cake walk compared to this. All that happened in 2008 was real estate prices fell, borrowers defaulted, and lenders lost money. Today global commerce is grading to a halt. Production is shutting down. This crisis is economic, not merely financial.

Everyone Will Have To Be Bailed Out

Peter Schiff says it's game over as this time around everyone will have to be bailed out:

"In 2008 we bailed out the banks and GSE's, as they owned the mortgages. Today it's not just mortgage debtors who can't pay, it's all debtors. It's not just banks that need to be bailed out, but every leveraged business in every industry. Who is left to do the bailing? Game over!"

Corona Virus: China Has Done a Great Job!

China has done a job. They were caught off guard, they were the first to face it, they were surprised. The disappointing thing to me is that the West is not ready either. We had a 3 month notice in America and yet nobody is prepared. We don’t even have testing kits for more than a million people in a country of 325 million people. China, once they got it together, they took very draconian, swift measures and seem to have it under control. I wish I could say that for Italy.