The United States will be in a recession. The question is, will this be a 1987 type of recession or a 2008/2009 type of recession.
North Dakota and Texas won't have oil jobs anymore with how low the price is now.
Unemployment insurance filings have got up 200-1000% within the last week for some states from the lock down.
Their is a 2 trillion dollar stimulus package but I'm not entirely sure how that will help for the most part. Involves giving everyone around 1,200 USD and 500 USD a child.
This definitely didn't help bitcoin or gold in the short term but mid-term as in 6 months to 12 months should.
China appears to actually be ahead in the stock market for the month of March compared to all the other nations.
As per my calculation, this currently recession is not a long one! The entire world is facing it, so do US! The moment we are out of this COVID-19 situation, the market is going to see a huge uptrend.
My analysis:
Majority of the markets are closed due to the current situation - people aren't going out to buy mobile or car, companies have stopped producing of all sorts of luxury or even regular items so millions of people lost their jobs! And such things are hitting insurance sector and mortgage banking sector real hard. But this is a temporary situation.
As soon as this virus is controlled, production companies will open up who are mainly the mass recruiters. As soon as the market opens, it will start creating demands in the market. People will get jobs and move out from their sabbatical situation.
It's a chain and it will fall in place soon after the market opens up. It will definitely not be another 2008. World is now more prepared to handle such situation.
If you have money, go invest in stocks of big companies who are hit by this virus. It could be a dream come true for you!