The destructive impact of the coronavirus has all but frozen commercial activity across the nation.
But it is just the trigger of an even deeper collapse now taking shape behind the scenes.
Even as the pandemic recedes, we could see wave after wave of bankruptcies. Some of the first victims of the collapse include:
But it is just the trigger of an even deeper collapse now taking shape behind the scenes.
Even as the pandemic recedes, we could see wave after wave of bankruptcies. Some of the first victims of the collapse include:
Airlines
Energy
Cruise operators
Restaurants
Private equity
Hotel and travel industry
Retail chains
Real estate
Next, as consumers and businesses default on their mortgages and loans, you could see widespread failures of banks, credit unions, insurance companies and other financial institutions.
And that’s just the tip of the iceberg because the viral outbreak is only one-half of the damning equation.
The other half is even worse.
The International Monetary Fund predicts the worst downturn since the Great Depression.
The Minneapolis Fed says unemployment could surge to Great Depression levels.
And what’s so frightening about these predictions of “future” is that they are no longer future any more. They are already come true.
Just in the past four weeks, over 40 million Americans have been thrown out of work.
At stake is the very survival of businesses employing tens of millions of people.
These businesses - including some of the biggest corporations in the world - have gambled with insolvency and are about to lose.
Washington and Wall Street have been “cooking the books” for years.
Now, their market manipulations, dishonest accounting and outright lies are about to trigger a chain of economic disasters that will shock the nation.
Unless you prepare now, everything you’ve worked for all your life could be lost forever.
