288- The Physical and Economic Consequences of COVID-19

Danielle is back for this week’s episode of InvestED. After almost seven weeks into recovery since first experiencing symptoms from COVID-19, she starts to reintroduce routine activity into her daily life and discusses both the physical and economic consequences of COVID-19 with Phil. Numbers have spiked in Europe in the past week and a half and there are theories as to why. Why have rates in some countries spiked, while others have been able to keep their number of cases down - and what does this have to do with investing? Phil and Danielle agree that the virus is very political in the United States, especially with the presidential election on the horizon. There is no doubt that if the pandemic continues the way it has, we will see some very serious currency related issues and possibly dramatic inflation. Businesses such as theatres, sporting events, and restaurants are already on life-support, and the long term effects of people continuing to stay home from work and businesses will lead to many businesses going under. Phil and Danielle agree that another stimulus package will be pushed through very soon, but the question remains as to what will happen with the currency; how much can you print and put into the economy, and how will this affect the US dollar (USD) itself? On top of this, the USD is the world’s reserve currency. If the USD goes down in value, it will injure any other country who has the dollar sitting in its vaults. So what should we as investors invest in, and how should we diversify our investments to protect ourselves from economic crash or inflation? If you want to prepare for the next market crash, download Phil’s Stock Market Crash Survival Guide today: https://bit.ly/3m3J7mt Learn more about your ad choices. Visit megaphone.fm/adchoices