I am getting reports from friends in SE Asia of the precipitous collapse of global freight as the full impact of China's colossal shutdown impacts across its economy and now, unsurprisingly, the global economy. Port ship handling in Malaysia, Singapore and Japan is down 50% already; i.e. shipping freight.
Supply chains across all sorts of industries are collapsing as all components made in China dry up for all sorts of products from cars to i-phones and computers. There has never been a Global economic disruption on this scale in history as nCoV's contagion rate is 4 x as fast as SAR's and 5 to 8 x as virulent. The Chinese have been economical with the truth concerning deaths, infection rates and the numbers of those now under full quarantine. The real numbers have been variably estimated at being 5 to 10 times the official figures. All attempts at real reporting on the scale of this pandemic are being heavily censored but what I have seen emerging on youtube is very scary / harrowing.
International air and sea travel is in virtual freefall as people are now reluctant to travel or simply can't travel on so many air and sea routes due to these now being closed down by States protecting their populations from infection. Holidays to SE Asia are in a state of collapse in Australia and Europe.
Stock market highs are entirely due to major market manipulative forces / players and not due to any underlying fundamental economic reasons, hence, the market is now totally defying gravity. The MSM is even beginning to acknowledge this fact and most market experts see a major correction / recession as being imminent.The commodity of the last resort gold (and silver) looks set to go ballistic and takeovers of underdeveloped gold mining assets is in "blast off mode" in Australia. All top brokers in the Australian gold markets are foreseeing AU$ 3,000 / ounce gold by the end of 2020. It's already at AU$ 2,343 / ounce. Silver is the huge sleeper...but not for much longer!”