"Russia has the best hand at the geopolitical poker table. The Kremlin, for 20 years, has been doing the opposite of everyone else by reducing their national debt to near zero, and buying thousands of tons of gold while simultaneously raising living standards," 

"Saudi Arabia by contrast, is in deep fiscal trouble and the problems there will be enormous. The US will repeat the experience of the Great Depression, but America has a knack for innovating their way out of problems," said Keiser. He added, however, that measures to prevent the coronavirus from spreading further could hamper America's anti-crisis efforts."

Didn't see that coming did you? Greedy pigs never win.

Global corporate losses from coronavirus to top $12 TRILLION – investor Ray Dalio

The economic damage from the Covid-19 outbreak will be unprecedented, according to the head of one of the world’s largest hedge funds Ray Dalio, who says global corporate losses from the epidemic will amount to $12 trillion.

“What’s happening has not happened in our lifetime before … What we have is a crisis,” Dalio told CNBC. “There will also be individuals who have very big losses… There’s a need for the government to spend more money, a lot more money… A lot of people are going to be broke.” Talking about US corporations he said they will lose as much as $4 trillion.

The founder of Bridgewater Associates explained that the US fiscal stimulus package should be $1.5 trillion to $2 trillion at a minimum, depending on the form of financial relief such as loan guarantees and credits.

Dalio said there’s an “inability of central banks to stimulate in a way that’s normal.” They have less capacity to ease monetary policies when interest rates have already hit the floor, he added.

“We are now at a point where there will have to be a debt restructuring and a monetization of that. We’re living in a different world like the 1930s in which 1930s, 1932 you have a devaluation of the dollar. You have the printing of money.”

The White House has announced this week a $1 trillion stimulus package that could help soften the blow of a sudden recession. The funds will include direct payments or tax cuts and small business assistance. The Federal Reserve has also unveiled plans to pump an additional $1 trillion into the US economy through asset purchases and cut interest rates to zero.

https://www.rt.com/business/483501-us-corporate-losses-coronavirus/