Look at the stock market! It is supposed to represent the health of the economy. It is doing no such thing. It is representing the credit spewing from central banks.
The scope of the central bank induced, malformed disaster is building to a crescendo of fat ladies singing backed by the alarm bell orchestra.
As if that isn’t bad enough, China’s disintegrating economy is leading to an extreme of bellicose posturing. It seems likely to end with the firing of guns; whether in the South China Seas or India is impossible (for me) to predict.
Hong Kong will be given up without a fight, but I doubt that Taiwan will be an easy target. Taiwan is impressively defended. It would not surprise me if, like Iran and the Israelis, they had a few nukes tucked away.
Right now, I am more worried about China than I am the economy. And that is saying a lot. Every day, more bankruptcies are announced in Australia. Tourism (in all its manifestations) and construction are crippled for years to come. Hospitality has moved from a walking-frame to a wheelchair. If China goes on the warpath, then our ore exports and oil imports will both, at the least, be impaired.
Meanwhile, Australia encourages girls to enter the armed forces and the media and politicians continue to witter about a virus. Someone I know sold all their Gold to buy real estate in Florida. Sigh.
The process underway was once described as ambling toward Armageddon. The pace has picked up dramatically in 2020.