Do you think we will enter a period of deflation?

[pbrower2a]

If we get the mass death that COVID-19 can deliver (maximal reckless and political failure) we will see the valuation of many things from real estate to precious metals plummeting. We would see businesses carefully tuned to the high current world population (such as utilities and fossil fuels) becoming shaky, and their share prices suggesting such.

The possibility of a securities crash remains. I can't understand why the securities market had a short-term (and it looks short-term; I certainly wouldn't be buying in now) recovery. By this time next year the DJIA is more likely to be at 13 K than at 30 K.

I expect Americans to change their consumer behavior. They are finding out what they most cherish and what they can live without. What they find that they can do without they will sacrifice -- likely to pay off debts and start saving again. Behaviors that people abandon in large numbers will go under.