[robertbb]

With interest rates so low, investors have been flocking to the stock market.

Buffet has always linked stocks to GDP, but currently stocks are on a totally different planet to GDP and it's fueled entirely by investors who aren't earning anything on their savings anymore and who feel stocks will continue to increase.

So much uncertainty around over and above a virus that has ground the worlds manufacturing hub to a halt: Brexit, Iran, climate change (bushfires here), US elections... and a massive asset bubble fueled by those very same low interest rates.

This is not going to end well. I shifted my superannuation account (Australian equivalent of 401k) to "defensive" mode (fixed interest) in the middle of last year and am very glad I did. It'd be down considerably by now had I done nothing.

The Australian economy's spluttering. We're technically already in a per-capita recession, but immigration numbers are propping things up artificially. I suspect we'll be in proper recession in the next quarter... bushfires and coronavirus already hitting us hard, wages have been stagnant for years and unemployment is trickling up slowly but steadily. We also have the highest per-capita household debt-to-income in the world, an ageing population and because we manufacture absolutely nothing we rely entirely on China to buy the resources we dig out of the ground (and send us immigrants and students). Because of coronavirus, neither of those two things are happening. Prior to that, the bushfires killed tourism and a lot of operators have shut down.

I'm 38. Plenty of time to get back in "growth" mode when things settle.