A Global Recession Is Upon Us But How Long And How Devastating Will It Be?

March 17, 2020

With cities and economies around the world shutting down it seems to be a guarantee that a recession is upon us and potentially already here. John Rubino joins me to discuss some of the more major factors we need to consider. These include the possible length and long term impacts for sectors and countries when we finally turn the corner and business can start operating again.

Click here to visit John’s site – Dollar Collapse.

    Mar 17, 2020 17:13 AM

    There is a Relief Bill, but it’s is like an over-decorated Christmas tree with missing branches.
    Paid sick leave mandat on small businesses is a $100 Billion mandate.
    That may help individuals, but sucking $100 Billion out of small Business is supposed to stimulate the economy ?
    I just don’t get that math….sorry. I know individuals will spend money, but The mandate is crippling to business.

    Throwing money to medicare, without regard to cost and location is ill thought out.

    There is talk of of cutting payroll tax to reimburse small businesses, but again no correlation to those businesses versus those not affected.
    e.g. why cut to Amazon, which is and will experience a boom of remote purchasing.

      Mar 17, 2020 17:42 AM

      The helicopter engines are revving up….. to deliver some of that helicopter money:

      Cash Handouts Are Gaining Support in Congress as Best Virus Fix
      By Ben Holland and Laura Davison – March 16, 2020

      “Republican Senator Mitt Romney gave his backing to the idea on Monday, proposing to immediately send $1,000 checks to every adult American, and Republican Senator Tom Cotton also said he is working on legislation that would provide cash stipends. Several House Democrats also back sending checks as the best way to help households.”

      “Among economists, the idea of across-the-board cash handouts as a response to the epidemic has been rapidly gaining support. That’s mainly because the scale of the shock has become much clearer, as swaths of the economy — from air travel to bars and restaurants — essentially shut down.”

      “As a result, analysts worry that some of the virus-relief proposals already in the pipeline will be too narrow.”

        Mar 17, 2020 17:12 AM

        I suppose if they include everybody (both business/individuals) it will short-term be quite popular. However, I doubt if over half the personal handouts would be spent. Some will pay down debt or save it.
        J. Carrasco is a good listen today from Palisade: – John alludes to the same reset Jamie talks about.

          Mar 17, 2020 17:41 AM

          Agreed, most will just ratchet down their personal debt with the handouts, not go stimulate the economy. I remember when Bush did the helicopter money hand outs I went out and bought a bass guitar. My wife asked what in the world I thought I was doing, and I told explained, “Honey, I’m trying to stimulate the economy.” 🙂

            Mar 17, 2020 17:57 AM

            Can you play a bass guitar because that would not be my first choice?

    Mar 17, 2020 17:47 AM

    Stink bid on SSRM @$ 9.07 filled

      Mar 17, 2020 17:44 AM

      Nice what else are you buying Marty? Did you add to (SILV) Silvercest in the recent pullback?

      So far today the Silver and gold miners have been even stronger than they were yesterday:

      Symbol – $Silver #Producers – Daily Change % at this point in the day.

      SMT.TO Sierra Metals Inc. +46.3158%
      SVM Silvercorp Metals Inc. +32.1429%
      CDE Coeur Mining, Inc. +28.327%
      ASM Avino Silver & Gold Mines Ltd. +26.9904%
      GPL Great Panther Mining Limited +25.6747%
      EXK Endeavour Silver Corp. +25.4386%
      FSM Fortuna Silver Mines Inc. +13.4615%
      USAS Americas Gold and Silver Corporation +13.4275%
      MYA.TO Maya Gold and Silver Inc. +15.7895%
      AG First Majestic Silver Corp. +14.39%
      HL Hecla Mining Company +12.6471%
      IPT.V IMPACT Silver Corp. +11.8644%
      PAAS Pan American Silver Corp. +9.88%
      FRES.L Fresnillo Plc +10.02%
      SSRM SSR Mining Inc. +4.48%
      GGD.TO GoGold Resources Inc. +6.8182%

        Mar 17, 2020 17:45 AM

        Symbol – #Gold Mid-Tier #Producers – Daily Change % thus far today:

        MUX McEwen Mining Inc. +25.69%
        MND.TO Mandalay Resources Corporation +23.21%
        TXG.TO Torex Gold Resources Inc. +22.40%
        NGD New Gold Inc. +20.78%
        SLR.AX Silver Lake Resources Limited +20.10%
        NST.AX Northern Star Resources Limited +19.70%
        PRU.TO Perseus Mining Limited +18.97%
        RRL.AX Regis Resources Limited +18.56%
        RSG.AX Resolute Mining Limited +18.55%
        OGC.TO OceanaGold Corporation +18.00%
        SAR.AX Saracen Mineral Holdings Limited +17.53%
        SBM.AX St Barbara Limited +17.42%
        TGZ.TO Teranga Gold Corporation +16.90%
        CGG.TO China Gold International Resources Corp. Ltd. +16.67%
        AR.TO Argonaut Gold Inc. +16.4948%
        PAF.L Pan African Resources PLC +15.19%
        KNT.V K92 Mining Inc. +14.81%
        DPM.TO Dundee Precious Metals Inc. +14.8058%
        AGI Alamos Gold Inc. +14.65%
        IAG IAMGOLD Corporation +13.8498%
        ORV.TO Orvana Minerals Corp. +13.79%
        BTG B2Gold Corp. +13.255%
        GCM.TO Gran Colombia Gold Corp. +12.29%
        CG.TO Centerra Gold Inc. +11.79%
        PVG Pretium Resources Inc. +11.71%
        KCN.AX Kingsgate Consolidated Limited +10.45%
        CXB.TO Calibre Mining Corp. +10.00%
        EVN.AX Evolution Mining Limited +8.04%
        EGO Eldorado Gold Corporation +7.46%
        AKG Asanko Gold Inc. +7.85%
        ASR.TO Alacer Gold Corp. +7.76%
        DRD DRDGOLD Limited +7.07%
        SMF.TO SEMAFO Inc. +6.96%
        CEE.TO Centamin plc +8.1967%
        GUY.TO Guyana Goldfields Inc. +5.36%
        SSRM SSR Mining Inc. +5.49%
        ROXG.TO Roxgold Inc. +5.06%
        TMR.TO TMAC Resources Inc. +5.00%
        RMS.AX Ramelius Resources Limited +4.17%
        POG.L Petropavlovsk PLC +3.70%
        WGX.AX Westgold Resources Limited +2.34%
        MML.AX Medusa Mining Limited +2.30%
        EDV.TO Endeavour Mining Corporation +1.32%

          Mar 17, 2020 17:44 PM

          Hey EX,new add : CEF @ $12, new add: USAS @$1.22

    Mar 17, 2020 17:03 AM

    These markets are so bizarre. (SMT) (SMTS) Sierra Metals announces a 15 day suspension at it’s mine due to the virus concerns [something that would normally be concerning news], and the stock surges on this update.

    SMT up 43% today on this announcement and SMTS up 37% – (WTF??)

    Sierra Metals Announces a Temporary 15-Day Suspension of Its Yauricocha Mining Operations in Accordance With the Government Declaration of a State of Emergency to Contain the Advancement of the COVID-19 Virus in Peru

    by @businesswire on 17 Mar 2020

      Mar 17, 2020 17:05 AM

      Then again, most of the Silver & Gold miners on my screen are up double digits today, so maybe this is just par for the course. It is a huge green day in the PM miners so far!

        Mar 17, 2020 17:39 AM

        Gold Mining Shares Surge As Key Support Holds In Gold

        by @Goldfinger on 17 Mar 2020

        “GDX traded up nearly 20% during yesterday’s trading session (largest single day gain ever for GDX) and yesterday’s trading range in GDX ($16.18-$22.95) is also one for the history books – it might be a very long time before we see a wider daily trading range (on a percentage basis).”

      Mar 17, 2020 17:11 PM

      Yeh that is out of sync Ex. Its almost as if the markets are dictated bg the flip of a coin: chance and luck!