Total Collapse…

Published on: April 27th, 2020

The far-reaching effect of COVID-19 on the global economy is being reflected in the data. We anticipate the economic impact to be violent and reach epic proportions. With many western countries in lockdown, Remi Tetot reports on the newly-released economic data that has been particularly impacted by the COVID-19 breakout during the week.

Comments

  • AP
    Aneil P.
    30 April 2020 @ 02:09
    Why do we keep forgetting that the Federal Reserve can just keep printing money infinitely and export the resulting inflation to the world? Yea these MFG/confidence numbers are bad but the worse it is the better it is for the equity markets. It means, fed throws more Bazooka. Unless the world moves over to SDR. A month from now, USA will be saying " What coronavirus"? I heard nothing of that sort. We are seeing 62% retracements from the low. We are almost getting beyond the short/momo money. The longer term money managers are thinking the same. Any comments?
  • EO
    Elena O.
    27 April 2020 @ 15:01
    so what are we shorting? swiss watch makers? MOvado? Credit card companies? Amex? Visa Mastercard? Any other ideas?
    • JS
      Jon S.
      27 April 2020 @ 16:03
      long S&P. The market continues to rise. It is only 15ish% off of all times highs. This is still a bull market.
    • WM
      Will M.
      27 April 2020 @ 17:16
      I think we can safety say Jon S, you are the ultimate contrarian......
    • JS
      Jon S.
      27 April 2020 @ 17:41
      Yes. I am contemplating this position for that exact reason. No one expects the S&P to regain 3000. How about if it actually hits new highs? Imagine the 'headlines' if new highs are achieved?
    • LC
      Lee C.
      27 April 2020 @ 18:32
      I'd say the S&P 500 and financials are a pretty good bet.
    • AP
      ANTHONY P.
      27 April 2020 @ 18:36
      Why is Jon S wrong at this time? Central banks are propping things up left and right and market participants have come back to feed at the trough just as fast. The message is that the markets will ratchet upwards as long as central banks put up enough cash and they've already said they'll put in "whatever it takes." The future may show that central banks are dumping money into a bottomless pit. But, for now, the market participants don't care in the least whether financial policy is tethered to reality. These markets are going up because enough market participants believe they will go up and Jon S is banking it as they do.
    • JS
      Jon S.
      27 April 2020 @ 18:42
      Thanks for the support Anthony!
    • OC
      Otto C.
      27 April 2020 @ 21:07
      Look at history and it's all playing out exactly as it has in the past. The Fed is out of bullets and the rally has already priced in more than the stimulus. It's not true that the FED will print to infinity.
    • TN
      Tobias N.
      28 April 2020 @ 19:34
      I’d say it become a common truth that fed can prop up the prices forever, people started saying “never bet against fed” just like they use to say “never bet against the American economy”
    • JS
      Jon S.
      29 April 2020 @ 20:58
      I just wanted to update everyone. Honestly, this was the most "contrarian" call in my life. After reviewing some old Jerry Seinfeld episodes on Youtube, I came across the George Castanza's "Opposite" episode. In short, everything George did in his life was gut instinct and the results were not what he envisioned. He then postulated if he did the exact opposite of what his instinct told him to do, his life would turn around for the positive. I've been whip sawed so many times in the market, I felt I was due for an opposite call. Thanks for listening.
  • BP
    Barry P.
    27 April 2020 @ 14:49
    Thanks Remi! Excellent weekly capture of global economic statistics in one shot
    • RT
      Remi T. | Founder
      28 April 2020 @ 10:20
      Thanks Barry, trying to keep it simple so its easy to digest
  • JD
    Junaid D.
    27 April 2020 @ 18:10
    Need a better way to display these text files. Reading them in a video frame is not ideal...
    • RT
      Remi T. | Founder
      28 April 2020 @ 10:19
      Hi Junaid, you can always download it, much easier to read then
  • RS
    Ravi S.
    28 April 2020 @ 09:48
    The major Swiss watch companies are actually shut and not producing watches due to virus concerns.
  • SB
    Sulinder B.
    27 April 2020 @ 14:49
    Hi, Just wondering why The Unfolding report is still locked as it is freely available subject to providing an email address. I have done that on 2 occasions without success. If it is available to the general public for an email address should it not be freely available to paying Realvision subscribers? Thanks
    • RK
      Ron K.
      27 April 2020 @ 15:21
      Follow Real Vision on Twitter. They shared it on 5:22 PM · Apr 23, 2020 - that did not work for you?
    • TY
      Tzu Y.
      27 April 2020 @ 19:26
      Did you wait for the file to load for download? It took like 1 minute and abit more for me to see the button to appear.
    • SB
      Sulinder B.
      28 April 2020 @ 06:02
      I tried the link before without success. Having re-tried it,it's worked. Thanks.
  • TD
    T D.
    28 April 2020 @ 02:49
    Any opinion on small caps vs. large cap U.S. stocks? The Russell 2000 has been outperforming the S&P 500 as of late, but I wonder if that trend will be sustainable. It seems like the smaller companies are the ones that are not as well capitalised as the ones in the large-cap indices.
  • mk
    michael k.
    28 April 2020 @ 01:44
    Europe should provide some forward guidance for the US on Covid19. Japan should provide forward guidance to our economic future as we head down the same monetary road
  • RO
    Robert O.
    28 April 2020 @ 00:42
    Re Elena O. Looks to me like the global consumer is shooting almost everything with heavy artillery! Jon S may be onto something, The S&P continues to rise on the back of Trump's $Trillion cheque signing. For Trump signing these cheques is spending other people's money (US tax payer). Sound familiar? Trumps strategy may well be to keep the S&P from crashing until after the election, putting him in a better position for re-election - Trump wins. If he loses the election the incoming Democratic Government is left with a multi $trillion deficit and a very slim chance there won't be a major share market correction during their four year term. Trump can then tweet "This is what happens when you vote Democrat", there by sticking it to the Government and their voters. Trump wins. Am I being too cynical? Thanks for all the great work Remi
  • Sv
    Sid v.
    27 April 2020 @ 21:46
    OOOUCH!
  • BM
    Bryan M.
    27 April 2020 @ 18:12
    Hmmmm...after reading this I need a shot or two of Remi...Martin, that is!

Mark Yusko

Morgan Creek Capital Management, Co- Founder, CEO, & CIO

Mark Yusko is the Founder, CEO and Chief Investment Officer of Morgan Creek Capital Management. He is also the Managing Partner of Morgan Creek Digital Assets.

Morgan Creek Capital Management was founded in 2004 and currently manages close to $2 billion in discretionary and non-discretionary assets. Prior to founding Morgan Creek, Mr. Yusko was CIO and Founder of UNC Management Company (UNCMC), the Endowment investment office for the University of North Carolina at Chapel Hill. Before that, he was Senior Investment Director for the University of Notre Dame Investment Office. Mr. Yusko has been at the forefront of institutional investing throughout his career. An early investor in alternative asset classes at Notre Dame, he brought the Endowment Model of investing to UNC, which contributed to significant performance gains for the Endowment. The Endowment Model is the cornerstone philosophy of Morgan Creek, as is the mandate to Invest in Innovation.

Mr. Yusko is again at the forefront of investing through Morgan Creek Digital Assets, which was formed in 2018. Morgan Creek Digital is an early stage investor in blockchain technology, digital currency and digital assets through the firm’s Venture Capital and Digital Asset Index Fund.

Mr. Yusko received a BA with Honors from the University of Notre Dame and an MBA in Accounting and Finance from the University of Chicago.

Anthony Scaramucci

SkyBridge Capital, Founder & Co-Managing Partner

Prior to founding SkyBridge in 2005, Scaramucci co-founded investment partnership Oscar Capital Management, which was sold to Neuberger Berman, LLC in 2001. Earlier, he was a vice president in Private Wealth Management at Goldman Sachs & Co. In 2016, Scaramucci was ranked #85 in Worth Magazine’sPower 100: The 100 Most Powerful People in Global Finance. In 2011, he received Ernst & Young’s “Entrepreneur of the Year –New York” Award in the Financial Services category. Anthony is amember of the Council on Foreign Relations (CFR), vice chair of the Kennedy Center Corporate Fund Board, a board member of both The Brain Tumor Foundation and Business Executives for National Security (BENS), and a Trustee of the United States Olympic & Paralympic Foundation. He was a member of the New York City Financial Services Advisory Committee from 2007 to 2012. In November 2016, he was named to President-Elect Trump’s 16-person Presidential Transition Team Executive Committee. In June 2017, he wasnamed the Chief Strategy Officer of the EXIM Bank. He served as the White House Communications Director for a period in July 2017. Scaramucci, a native of Long Island, New York, holds a Bachelor of Arts degree in Economics from Tufts University and a Juris Doctor from Harvard Law School.

Michael Saylor

MicroStrategy, Co-Founder

Mr. Saylor is a technologist, entrepreneur, business executive, philanthropist, and best-selling author. He currently serves as Chairman of the Board of Directors and Chief Executive Office of MicroStrategy, Inc. (MSTR). Since co-founding the company at the age of 24, Mr. Saylor has built MicroStrategy into a global leader in business intelligence, mobile software, and cloud-based services. In 2012, he authored The Mobile Wave: How Mobile Intelligence Will Change Everything, which earned a spot on The New York Times Best Sellers list.

Mr. Saylor attended the Massachusetts Institute of Technology, receiving an S.B. in Aeronautics and Astronautics and an S.B. in Science, Technology, and Society.

Alex Saunders

Nugget's News, Founder & CEO

Alex Saunders is the founder and CEO of Nugget’s News, a digital media company focused on all things crypto. Alex has been captivated by cryptocurrency since 2012 and in 2017 he began educating globally on the benefits of cryptocurrency and how to safely acquireit. Nugget’s News has been listed as a top-20 podcast by Business Insider, ShapeShift and Lifehacker and has over 120k YouTube subscribers with 9 million total views.Alex is also heavily focused on his cryptocurrency education platform Collective Shift which currently serves over 4,500 members. provides his unique perspectives by utilising his expertise in fundamental analysis, technical analysis and market sentiment. He is working towards his mission of making it easier for everyone to understand the financial world.

James Putra

TradeStation Crypto, Inc., Sr. Director of Product Strategy

James helped launch TradeStation Crypto’s offering which utilizes a true online brokerage model that self-directed investors and traders have come to expect for equities, futures, and foreign currency markets. He is a reputed crypto asset specialist and blockchain thought leader focused on helping people find innovative ways to participate in this space. He is active in the blockchain community with speaking engagements, TV appearances and mentoring. James has over 15 years of experience in the Fintech industry.

Raoul Pal

Real Vision, Co-Founder & CEO

Raoul Pal is the Co-Founder and CEO of Real Vision, the world’s pre-eminent financial media platform, which helps members understand the complex world of finance, business, and the global economy.

Real Vision members also have access to Real Vision Crypto, a cryptocurrency and digital assets video channel watched by over 80,000 people. In addition, Raoul has been publishing Global Macro Investor since January 2005 to provide original, high quality, quantifiable and easily readable research for the global macro investment community hedge funds, family offices, pension funds and sovereign wealth funds. It draws on his considerable 31 years of experience in advising hedge funds and managing a global macro hedge fund. Global Macro Investor has one of the very best, proven track records of any newsletter in the industry, producing extremely positive returns in eight out of the last twelve years.

He retired from managing client money at the age of 36 in 2004 and now lives in the tiny Caribbean island of Little Cayman in the Cayman Islands. Previously he co-managed the GLG Global Macro Fund in London for GLG Partners, one of the largest hedge fund groups in the world. Raoul moved to GLG from Goldman Sachs where he co-managed the hedge fund sales business in Equities and Equity Derivatives in Europe. In this role, Raoul established strong relationships with many of the world’s pre-eminent hedge funds, learning from their styles and experiences.

Other stop-off points on the way were NatWest Markets and HSBC, although he began his career by training traders in technical analysis.

Peter McCormack

What Bitcoin Did, Journalist

Peter McCormack is a full time journalist/podcaster covering topics such as Freedom, Human Rights, Censorship and Bitcoin. Peter created and hosts the What Bitcoin Did Podcast, a twice-weekly Bitcoin podcast where he interviews experts in the world of Bitcoin development, privacy, investment and adoption. Launched in November of 2017, the podcast has grown to over 100 episodes with a guest list that is a testament to the diversity of knowledge and opinions that represent the broader Bitcoin community. Expanding his growing list of human interest recordings, documentaries and films Peter has recently launched the Defiance podcast and DefianceTV.

Caitlin Long

Avanti Financial Group, Founder & CEO

22-year Wall Street veteran who has been active in bitcoin and blockchain since 2012. In 2018-20 she led the charge to make her native state of Wyoming an oasis for blockchain companies in the US, where she helped Wyoming enact 20 blockchain-enabling laws. From 2016-18 she jointly spearheaded a blockchain project for delivering market index data to Vanguard as chairman and president of Symbiont, an enterprise blockchain start-up. Caitlin ran Morgan Stanley’s pension solutions business (2007-2016), heldsenior roles at Credit Suisse (1997-2007) and began her career at Salomon Brothers (1994-1997). She is a graduate of Harvard Law School (JD, 1994), the Kennedy School of Government (MPP, 1994) and the University of Wyoming (BA, 1990).

Hunter Horsley

Bitwise Asset Management, CEO

Hunter Horsley is Chief Executive Officer of Bitwise Asset Management. Prior to Bitwise, he was a product manager at Facebook, working on advertiser products including the multibillion-dollar sponsored content ecosystem and ad breaks in videos. Before Facebook, Horlsey was a product manager at Instagram, responsible for multiple advertising products generating several hundred million dollars of revenue. He is a graduate of the Wharton School at the University of Pennsylvania, with a B.S. in economics. Recently, Horsley was named a member of Forbes’ 2019 “30 Under 30” list.

Luke Gromen

Forest For The Trees, Founder & President

Luke Gromen has 25 years of experience in equity research, equity research sales, and as a macro/thematic analyst. He is the founder and president of macro/thematic research firm FFTT, LLC, which he founded in early 2014 to address and leverage the opportunity he saw created by applying what clients and former colleagues consistently described as a “unique ability to connect the dots” during a time when he saw an increasing “silo-ing” of perspectives occurring on Wall Street and in corporate America.

FFTT caters to institutions and sophisticated individuals by aggregating a wide variety of macroeconomic, thematic and sector trends in an unconventional manner to identify investable developing economic bottlenecks for his clients. Prior to founding FFTT, Luke was a founding partner of Cleveland Research Company, where he worked from 2006-14. At CRC, Luke worked in sales and edited CRC’s flagship weekly thematic research summary piece (“Straight from the Source”) for the firm’s clients. Prior to that, Luke was a partner at Midwest Research, where he worked in equity research and sales from 1996-2006. While in sales, Luke was a founding editor of Midwest’s widely-read weekly thematic summary (“Heard in the Midwest”) for the firm’s clients, in which he aggregated and combined proprietary research from Midwest with inputs from other sources.

Luke Gromen holds a BBA in Finance and Accounting from the University of Cincinnati and received his MBA from Case Western Reserve University. He earned the CFA designation in 2003.

Meltem Demirors

CoinShares, Chief Strategy Officer

Meltem Demirors is Chief Strategy Officer of CoinShares, an investment firm that manages billions in assets on behalf of a global investor base, and is a trusted partner to investors and entrepreneurs navigating the digital asset ecosystem. Meltem oversees the firm’s managed strategies group and its New York office and leads corporate development.

Previously, she was part of the founding team of Digital Currency Group. As a veteran investor in the digital currency space, she has invested in over 250 companies in the ecosystem.

Meltem is passionate about education and advocacy, and teaches the Oxford Blockchain Strategy Programme and co-chairs the WEF Cryptocurrency Council.