Greyerz – Prepare For Crisis In World Stock Markets, Global Economic Depression And Despite Volatility, Skyrocketing Gold & Silver Prices
KingWorldNews.com
August 09, 2020
Today the man who has become legendary for his predictions on QE and historic moves in currencies and metals warned investors to expect a crisis in world stock markets, global economic depression and despite volatility, skyrocketing gold & silver prices.
August 9 (King World News) – Egon von Greyerz: Two major asset classes are major beneficiaries of the unlimited money printing and credit creation that is now taking place globally. One of them will end in tears and the other one has just started a major secular bull market.
As the world economy and financial system is disintegrating, investors are under the illusion that all is well with many stock markets still not far from their all time bubble highs.
THE DISCONNECT BETWEEN STOCK AND THE REAL ECONOMY CONTINUES
Many companies and services are hemorrhaging cash and are not going to recover for years, some never. As very few people are travelling, many airlines, cruise lines, hotels and restaurants, for example, will not survive. This is a global industry that employs 330 million people and represents 10% of global GDP. International tourism could fall as much as 60-80% in 2020 according to some estimates. The car industry is 3% of global GDP and is expected to drop 25% in 2020.
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