I've been a prophet of doom the last few years, but finally my prediction is coming true. Don't go buying stocks right now as things will get worse before they get better. The latest stocks to avoid are the financials; banks in other words. With people out of work, they're going to want to access their money yet they don't have income to replace those savings with. This is going to be challenging for banks and I predict a few failures. The big ones will be bailed out, but small institutions will disappear or be gobbled up.
This hysteria over COVID-19 is massive theft of Millennial and Gen-Z inheritance. The epidemic could have been handled better that's for sure. Watch out, this is going to be a bumpy ride.
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