Just math.
Global stocks lost about $20T in value so far.
The real damage, including all other assets, is probably closer to $50T.
Add a $13T dollar shortage problem globally.
You think $6T of money printing & broke governments will fix this?
I will take the other side. pic.twitter.com/EIcwms8o5V
— Otavio (Tavi) Costa (@TaviCosta) April 12, 2020
The great wall of debt.
Chinese investment in real estate development just plunged to levels never seen before.
If industrial commodities or EM currencies give us any clue…
There is absolutely no rebound in sight.
Excess leverage is draining liquidity worldwide. pic.twitter.com/eNXMydfniG
— Otavio (Tavi) Costa (@TaviCosta) April 11, 2020