Lots of economic havoc. Everything is down; it's like the opposite of the "everything bubble" which has been happening for the last several years. Stocks are down, which is expected, but GLD, Bitcoin, and even TLT (=long-term treasuries) are also down. Where is the money disappearing off to? Are institutional investors really selling everything and then putting the cash "under their mattresses"?

I was especially surprised by long-term treasury yields. People are saying that the high yields are because the US is about to spend trillions of dollars on the coronavirus response, but I always thought (based on past behavior) that the treasury markets didn't really care about US debt. It'd be interesting if yields went way up -- to several percent --, which would turn this recession into a full-blown debt crisis as well. I don't think the Fed would let it happen, though, and I suspect that their intervention would not be enough to cause hyperinflation or any other short-term disaster, either, this time.

The Fed was already propping up the economy, and now they've turned it up to 11. At some point this is going to cause so much mal-investment & disconnection between the real economy and the financial system that everything really just collapses. It could happen this time, though maybe not: the USD being the global reserve currency strengthens it a lot. I've previously predicted that the collapse would come in a few decades. Regardless, the Fed's actions here very much reinforce my skepticism of the fiat economy in general. I'd much rather own a lot of BTC than participate fully in the Fed's/US's crazy game of Monopoly.

I think that the recession is good for BTC medium-term. People are selling now because people are selling everything now. But 2008 was what motivated the creation of Bitcoin, and the same things are happening now. I could see ATHs this year.