Recession. Re-flation. Restoration with Jonathan Wellum
As a result of the public health policy response to COVID-19, the global economy is experiencing the largest contraction in GDP in modern history. This has thrust the global economy into an economic recession/depression. Governments and central banks have responded with massive spending programs funded by record levels of debt coupled with an enormous expansion in the money supply.
Jonathan discusses some of the impacts and potential unintended consequences of these dramatic actions.
The views presented are not necessarily representative of those of the Christian Embassy. The Christian Embassy seeks to inspire thoughtful dialogue on relevant subjects between leaders while maintaining a nonpartisan stance on political issues. We hope the presentation stimulates some great thinking and discussion!
Timeline from Webinar
(00:00) Opening Remarks
(2:15) Beginning of presentation
(37:36) Question and Answer
- (38:08) Can you comment further on what we are seeing with negative oil pricing this week?
- (40:02) In terms of a timeline for recovery, how long do you anticipate it will take, once the economy is opened up, to get back to the economic activity we were experiencing prior to COVID-19? Do you anticipate a V-shaped recovery or a more prolonged recovery?
- (42:22) How do we change the narrative on people going back to work. I believe completely that we are destroying our economy by having people not contribute to the economy. But there is still lots of shaming going on re staying at home.
- (45:40) The pandemic has surfaced a lot of fears and anxieties in people’s lives. I see it manifested in the spread of misinformation and through global increases in alcohol and pornography consumption. I imagine you encounter fear responses a great deal as you talk with people about their investments. What advice would you have for us as we encounter those who are experiencing so much fear?
- (48:10) How has your Christian faith influenced your life and your decisions over the past two months?
(50:00) Closing Remarks
Timeline from Question and Answers
- (1:18) Could you give an example of a zombie industry that is kept alive by government bailouts?
- (3:53) US government debt levels?
- (5:40) How much gold exposure do you recommend?
- (7:40) What is your view on the Canadian Banks as an investment today?
- (9:27) What do you think will happen to real estate values?
- (11:15) Is globalism dead?
- (13:48) Modern Monetary Theory?
- (16:22) Will this printing of money cause the public to turn to cryptocurrencies?
- (18:10) Are there levers to recovery that the government should avoid?
- (20:08) Is it a time for privatizing healthcare or education?
- (23:00) What role can governments play in stimulating much needed innovation?
- (24:50) Elaborate on the link between self-sufficiency and the family unit?
- (28:57) A safe protocol and plan to move our economy from park to 1st gear towards restoration?