We need look no further than Turkey to understand the potential disaster faced by countries unable to keep up with general obligations. With dwindling foreign reserves of any kind and hefty debt, the country is forced to turn to allies for help, including U.S. swap lines. With tourism effectively halted, the country faces a significant risk of defaulting on its obligations in the coming months.
Many analysts feel that we are not out of the woods yet. We see most economies talking about lifting social distancing restrictions, which means that we can drive our cars to the petrol station, but we aren’t likely to be heading to the airport anytime soon. Manufacturing may begin but it will probably limp back to life as companies will have to ease the workforce back, slowly and safely, and perhaps with limited production.
Traders and investors across the globe need to understand what to look for in their partners. With plenty of scams out there, you can protect yourself with a little bit of knowledge.
Hugh Kimura, founder of Trading Heroes gives the lowdown on trading after last month crashes in the market.
The idea of being a professional is when a specific activity becomes your occupation and primary means of maintaining a livelihood. For example, a professional football player is not considered as a professional because of their level of skill, rather because playing football is their primary source of income.