Frank Curzio, the host of the Wall Street Unplugged podcast, joined SGT Report to discuss the worst week ever for United States stock markets. Curzio also discusses what lies ahead, which is likely to be more economic and stock market carnage as COVID-19 spreads around the globe.
This viral outbreak and the impact on the markets around the world is about to go from bad to worse. It’s already been a crazy rollercoaster ride for the markets and the Federal Reserve will continue to manipulate what’s seen by the masses to avoid a recession. The stock market is falling faster, in point terms, than we have historically seen.
Things will get worse, as most stores have their shelves stocked with products from China. This is a problem with supply, not demand. And Curzio says the Federal Reserve is going about “fixing” the situation all wrong. Lower rates are not going to get people to come out of their houses to go spend money. The market could go down 15-20% from here, Curzio predicts, and we are going to see more stimulus from the central banks.
Curzio also says that the globe will have a handle on the coronavirus by June. Once that happens, things could improve, but expect them to worsen in the markets until then. Additionally, once we have overcome this outbreak, we will all have to deal with the repercussions of the manipulated markets and the stimulus the Fed conjures up.
For right now, to protect yourself financially “you should be in cash” Curzio says. But if the market continues to do poorly, president Donald Trump’s chances of reelection will go down. Democrat Bernie Sanders appears to be the front runner, according to Curzio, and if he’s elected, expect your taxes to go up dramatically and an all-out destruction of the economy as we know it in favor of full tyranny.
Watch the entire video for Curzio’s take on this virus and just how bad it’s going to impact the markets now and in the future.