The way I see it now is the insolvencies of individuals and businesses are still working through the system, people are dipping into their savings, businesses are cutting costs and they all hoping for some recovery so they can get back to it and add back to the reserves, each day that doesn't happen another business goes belly up and another person goes broke. That means a strain on debt, car, home and other repayments, that means knock-on on financial markets like insurance its all unfolding slowly.

I still think we won't see the worst of it until late 2021/22, it also remains to be seen what governments do will they backstop salaries, do UBI, do massive job creation programs on more debt? The IMF said they willing to back just about anything so it's not impossible to bail out the situation at the expense of most currencies losing 25-40% of their value to do that

I also think crypto takes a knock as there are still many holders who might face margin calls or financial strain so they have to dump, but that's okay I am happy to hold and buy through that.

I've already set myself up for the worst of the worst-case here in South Africa but I hope it does not come to that

Posted Using LeoFinance ^Beta