Keep Calm and Buy Gold!

The coronavirus pandemic has triggered a global recession of epic proportions. So far, the government’s domestic response has been to print and distribute helicopter money and tell people to go back to work and school without fear of reprisal from the coronavirus. In spite of the governments lack of concern, many business journals are expressing concerns that consumers do not share the governments lack of concern and will not be rushing back into a “business as usual” routine. Associated Press reported that their early May poll found that 76% of Americans surveyed support keeping bars and restaurants closed.

Previous hotspots for the coronavirus, like New York and New Jersey, have flattened and are now reducing the curve of infection. However, the New York Times is reporting that diagnoses are on the rise in Florida, Texas, Louisiana, Maryland, Ohio, Virginia, Tennessee, Iowa, Arizona, Missouri, Minnesota, Wisconsin, Alabama, Nebraska, Kansas, Kentucky, Oklahoma, Oregon, New Hampshire, Puerto Rico, Maine, West Virginia, Washington D.C., and Vermont.  Florida and Texas have also reopened potentially dangerous retail spaces, such as gyms and nail salons, yet they’re diagnoses are on the rise. The CDC will be monitoring the situation on a daily basis. Particularly, since even though South Korea got their outbreak under control early, they’ve experienced another flare up. A single young man, who visited three nightclubs in Seoul before testing positive for the coronavirus, was determined to be the source of 19 new cases. The President of Ghana announced it’s been determined that one person at a fish canning factory infected 553 people before testing positive for COVID-19.

President Trump’s America first policies, disdain for multilateral organizations, and anemic relations with a majority of world leaders are contributing greatly to a massive lack of global unity and coordination in the battle against the coronavirus. Governors and mayors are being sued by people for continuing shelter in place orders and the Wisconsin Supreme Court upheld a ruling saying that the Wisconsin Governor was violating civil rights with that order, so it was rescinded and Wisconsin is now open and people are free to go about their business. Some are taking advantage, but the majority of citizens are continuing to play it safe.

Obviously, the worst thing that could happen is to create a greater number of coronavirus cases and hotspot community infections that could supersede our medical capabilities. So the most common logic dictates that everyone should continue following CDC recommended guidelines, by wearing face masks, practicing social distancing, and wearing gloves or encouraging more than regular hand washing. This will insure our long term health success. Insure your financial success as well. Keep calm and buy gold in order to protect your portfolio, assets, and legacy. For professional assistance, call the experts at American Bullion, now at (800) 653-GOLD (4653).