SPOKANE, WA / ACCESSWIRE / September 14, 2020 / 'The next great depression will make the last great depression look like a small technical correction.' - Elliot Janeway
David Morgan is the founder of The Morgan Report, a monthly research report dedicated to helping people build and preserve their wealth. A precious metals, financial, and engineering enthusiast, Mr. Morgan has been delivering education about the resource sector for decades. In the midst of a pandemic and a shocking, though not surprising, economic downturn, Morgan shares his views on our present situation and what individuals should expect from the coming years.
David Morgan pays homage to the late Janeway's prediction from three decades ago. According to Morgan, the financial system has been under immense stress for quite some time. Although some conspirators claim that COVID-19 is a massive cover story for a global, economic, and physical breakdown of the economy, it is a moot point. He points out that while the timing of a pandemic and an economic collapse has certainly sped along the process, the financial situation the world is presently experiencing was due to occur regardless. The pages of history have recorded the collapse of complex societies approximately every 300 years. The idea that the modern economy could continue to build and build without any repercussions is simply impossible.
Presently, Americans are facing the biggest change in the physical economy since the Great Depression of the 1930s, and it is impacting the entire world. Modern society looks much different than it did 100 years ago. While individuals may be able to plan their next meal via a high tech iPhone app, the actual source of the said meal may not be so certain. COVID-19 effectively broke the supply chain. Everything from communication to internet security, to shipping and storage, has been affected by this shift. The result will be a massive restructuring of the entire system and an altered perception of what is valuable. For example, high-value investments of the past, i.e. commercial real estate, transportation, etc, are losing value as the world moves online, and work from home becomes the norm. Fewer families will own two cars and instead rely on public transportation or rideshare apps. In the next 6 months to a year, the food situation could move toward a crisis level. For the public at large, the price inflation of food will be amongst the first indicators of the larger problem at hand. The world will begin to re-evaluate where their funds are best spent in the face of real estate, stocks, and bonds value diminishing. According to Morgan, the result will be an increase in the value of precious metals, unlike anything the public has experienced. Now is the time to focus on money, precious metals, and mining. It is becoming more about preserving what you have, than seeking capital gains. However, Morgan is clear that an investment shift is not the only necessary impending change.
While his predictions may appear bleak at face-value, Morgan, a philosopher at heart, argues that a silver lining prevails. As dismal as the present situation may seem, this is merely the requirement of natural law. It is simply impossible for an economic bubble to grow without ever reaching a bursting point. The current economic reset has served as a wake-up call for many and an opportunity for a cleansing of sorts to transpire. It is time to re-evaluate what is valuable. Consumers have been taught that materialism is of the utmost value. This simply isn't true. Our most valuable commodity is human connection. When faced with an uncertain future, 'a great revaluation must take place in the heart of mankind at large,' states Morgan. The path forward will require asking difficult questions.
'Why did society get so unbalanced in the first place?'
'Why haven't we been maintaining our health?
'Why were we so off on our priorities that we needed this level of economic distortion to force us to realize that the real value is derived from our interactions with others?'
Morgan predicts that the economic turbulence will last a minimum of 5 years. In many ways, it will be much worse than the crisis of the 1930s. 100 years ago, 70% of the population was agrarian, with a high emphasis on communal collaboration. While the vast majority of modern families do not have access to land on which to produce food, we have a different asset: technology. If used the right way, through the use of technology and strategy, the economic crisis may be rectified on a shorter timeline.
'The reality is, the pendulum has swung too far, and it needs to come back to balance, natural law demands it. The laws of nature cannot be swayed.'
However, Morgan reiterates two adjustments that will allow individuals to not simply survive this economic downturn but to thrive. The first requires reallocating investments to focus on precious metals and natural resources. Simpy, invest in basic needs and companies that provide them. The second requires an evaluation of personal priorities to achieve personal balance, improved health, and greater human connection.
SOURCE: David Morgan
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