A PERFECT STORM

 To say that I am worried is putting it mildly. The available evidence so far is that the Rowley led administration really doesn't have a clue how to mange the country's finances and has made to date a real mess of things. And as if their incompetence was not enough we put them in charge to manage the economy just when a 'perfect storm' of a crash in energy prices and a global pandemic combined to create a situation that would tax even the best and brightest minds. Unfortunately, they are neither the best nor the brightest so things are now worse than they might have been.

On top of their incompetence is the fact that they simply don't tell us the truth ... about anything! Take the pandemic, for example. Do you really believe that they handled this so well that we were number one in the world? Really? If you are that gullible I have a bridge in Brooklyn that I'd like to sell you ... cheap!

But what has really scared the living daylights out of me is a report from a man called Harry Dent who is the founder of Dent Research and editor of  the "Economy and Markets" newsletter. He says that stocks are nearing a day of reckoning and is predicting a stock market crash of somewhere between 80 to 90 percent early next year. His forecasts are predicated on several variables which include exorbitant debt, aging demographics,  lofty stock and real estate valuations, diminishing central bank control and uncontrolled monetary policy. (Sounds a little like T&T, doesn't? But that's another story.)

Dent said "when this happens, you don't get a 30 to 50 percent stock correction. You get 80 to 90." He went on to say that this type of correction occurs once every 90 years ... and that puts us (meaning the world) right on target. The last time this happened was in 1929 when the stock market crashed leading the whole world into the Great Depression ... which caused (amongst other things) the right conditions for the demagogue that was Adolf Hitler to rise.

Dent calls the Corona virus the "perfect trigger" for the coming economic storm.

So? Obviously there ain't a heck of a lot that we can do about a world wide depression if Dent is right. But we should be preparing ourselves for the coming economic storm in much the same way that we prepare for an approaching hurricane. If it passes us by, then that would be great. But we should be prepared to deal with it if it doesn't! And that's my problem. Because I don't think that this Government ... OUR Government ... has a clue how to deal with the present difficulties, much less Mr. Dent's "perfect storm."