Well, here we are again. Of course, this is different from the other major downturns in my lifetime, but major downturns have happened throughout history and they always will. Sadly, the truth is we only get clarity with hindsight. As usual, this one blindsided pretty much all of us.
We all started hearing about the virus in China as early as January. Obviously we were all concerned, but would it be like swine flu, Ebola, SARS or MERS? The lives of most people and markets were not greatly impacted by these, though 200,000 died of swine flu.
HIV has killed 25 million to 35 million people – just terrible, but it did not bring the world to a halt.
So Covid-19 is no surprise to anyone. But its economic impact, as the world seeks to save lives, is.
The lessons we have learnt by researching the great tragedies of world wars, pandemics like the bubonic plague and many huge depressions are our guide now and into the future.
The world will recover
First, while far too many will get ill and die, the world will recover. The global population of 7.7 billion grows by around 93 million people a year. Global deaths are not predicted at anywhere near that level.
As we recover we will have a huge population of people who will want to rebuild and move ahead.
هذه القصة مأخوذة من طبعة May 2020 من Money Magazine Australia.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة May 2020 من Money Magazine Australia.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
An outrageous, beautiful monopoly
Telstra's mobile business is a cash machine with few competitors, giving it the highest returns in the world.
Drop the anchor to judge value
Buying and selling decisions should be based on where a stock price is going, not where it has been.
Powering the AI boom
Beyond the software and chipmakers, where will the energy come from?
Get into life
Tucked inside super are products that can protect you from life's inevitable uncertainties.
Paths to home ownership
Taking the road less travelled can sometimes deliver unexpected benefits.
Sold! Quick ways to add value
Small, strategic changes can have a big impact on the look and feel of your home. And get you a better price on auction day.
Money lessons the kids need to know
Your children can learn a lot from your past money mishaps. Here are eight financial conversations I have had with mine.
Property-investing rules: are they likely to change?
The pressure for the government to curb the tax benefits of tax concessions, such as negative gearing and the capital gains tax discount, is unrelenting. Most recently, independent senators David Pocock and Jacqui Lambie proposed five options for paring back investment property tax concessions, with savings to the Federal budget of up to $60 billion over the next decade.
What's love got to do with it?
A rollercoaster of emotions could be driving poor crypto behaviour.
Are we ready to be cash-free?
Saying goodbye to our piggy banks too soon could leave small businesses in the dark when problems arise.
