Well, it’s been an unbelievable couple of weeks.

Could anyone have imagined a month ago that there would be a run on toilet paper because of a flu like pandemic sweeping the globe?

Could anyone have imagined a month ago that the NBA and NHL would suspend their seasons, the PGA Tour would postpone events, and the NCAA would cancel the Big Dance?

Could anyone have imagined a month ago that our schools and universities would be closed until further notice?  That businesses would tell employees to stay home for a couple weeks?

Nope, neither could I.

We live in crazy times.  These crazy times have gone on non-stop since 2016.

Yup, you know what I am getting at there.  Much of this has to do with the election of Donald J. Trump as President of the United States of America.

I remember during that campaign that it was implied he would not accept the results of he lost that election.  What we’ve seen since is that his opponents have never accepted those results.

As a result, they’ve done everything in their power to end his presidency… from illegal surveillance of his campaign, to a fraudulent investigation based on that illegal surveillance, to an impeachment hoax, and now a media induced panic over a virus that may, or may not be significantly more deadly and contagious than the flu.

This recent induced panic has lead to a global stock market crash that is likely going to result in at least a mild recession.  An economic recession is the only chance the Democrats can possibly knock out Trump in November.

This is particularly the case since it appears that they are on the verge of nominating quite possibly the worst presidential nominee in my lifetime, Joe Biden.

So where does this all leave us?

A little over a week ago, I suggested that if you are a long term investor, you should be buying stocks.

You should absolutely be buying them now.  They are on sale.

Keep in mind though, if you are not very good at picking the right stocks to buy for a long term portfolio (most people are not), then just buy shares in an index mutual fund that tracks the S&P 500.

While our country has undergone some negative changes in recent years, due to poor political leadership, the United States is still, far and away, the best game in town.

Our economy will continue to grow in the long run for this one simple fact… people from all over the world still want to live here.

Yes, we still have plenty of problems and it is uncertain whether we now have the right mindset as a nation to overcome many of them.

This is obvious to me when one political party comes fairly close during the last two presidential election cycles to nominating a socialist/communist candidate who despises capitalism and everything else our country stands for, including liberty and freedom.

That means there are too many people who want a free ride.  But, that is the case with many countries around the world.

Back to the stock market…

I have no idea when we will see a bottom in the stock market, or at what price the bottom will be found.  But, it will happen, and then the market will rebound, as will the economy.

The fear mongers will argue otherwise, but our economy has a much stronger foundation than it has in decades.  This is due to President Trump’s focus on bringing manufacturing jobs back to America, negotiating better trade deals, lower corporate tax rates and lower personal income tax rates.

As recently as last month, the economy created 273,000 new jobs, lowering the unemployment rate to 3.5%, an incredibly low number.

Yet, there is still room to grow, as the labor force participation rate remains well below the levels of 20 years ago.

Therefore, I do believe we’ll rebound from this economic disruption pretty quickly, once we start getting some good news about the spread of the virus.

Obviously, this episode has been a significant shock to the system.  No one can ever predict these black swan events with regularity.

You can just never take anything for granted.

With this in mind, it’s a good idea to step back and re-evaluate a lot of things.

Are we ever really prepared for these bad times?

I personally was caught flat footed in 2008-2009.  That financial crisis disrupted my life completely and I have yet to fully recover.

Ever since, I’ve done what I can to increase my knowledge in different areas in an effort to diversify my income.

I suggest that many people try and do the same.  None of us knows if we are going to lose a job in the foreseeable future, or a loved one as a result of this damn virus.

These can be financially traumatic events.

So, it’s a good idea to develop another skillset that you may be able to rely upon for future earnings potential, or to at least feed yourself!  You can go to school, learn how to trade/invest, build an online business, develop a trade skill, grow vegetables, etc.

I have some knowledge in a few areas, and am happy to help.

Otherwise, start doing some research today in areas of interest, so that you can be better prepared for what lies ahead, both in the near term, and the long term.

Thanks for reading!