Things are now starting to get fast and furious
by Adam Taggart
Outside of China, covid-19 is swiftly breaching defense lines all over the world.
Italy is suddenly in big trouble — with the military being called in to enforce city quarantines. Iran, South Korea & Japan similarly find themselves overwhelmed as new cases continue to spread unabated.
And there are many other countries (including the US) whose low reported numbers just don’t appear believable at this point. We may soon find out that there are many more infections worldwide than are currently understood.
As China, Italy, South Korea and a growing list of other countries are showing us, outbreaks can happen extremely fast, slamming the door shut on your window to prepare.
Which is why taking action now is critical — because a government lockdown will likely catch you by surprise (e.g., armed troops, empty store shelves). After the moment it’s implemented, you will have to make do with whatever measures you managed to put in place beforehand.
Meanwhile, we’re starting to be able to quantify the damage of the current shutdown of China’s economy. China is responsible for nearly 30% of world’s manufacturing, and it’s estimated that at this point global trade will take a hit of nearly $600 billion.
And it gets worse. Millions of Chinese firms are at risk of going bankrupt from lack of cash flow — a national bailout by China’s banks is likely needed to keep a huge part of its industry from vaporizing. And on the social front, we’re hearing stories of families giving up babies they can no longer afford, as folks are becoming homeless due to lack of income.
This pain is a likely preview of what’s to come when other countries get hard-hit by this virus.
This is why the downplaying to-date of the coronavirus by world authorities has been so dangerous. The risk is real and the costs are high. The masses should be preparing now.
But until they are, we need to be ahead of the curve.
Which is why Chris and I continue to accelerate our home preps. He explains why in his new report Why I’m Ramping Up My Coronavirus Preparations, available to Peak Prosperity’s premium subscribers.
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