Wealthy investors worry about lack of cash if pandemic returns

Bloomberg/Devon Pendleton/7-13-2020

“The fallout from coronavirus has provoked fears among the world’s wealthy, with the majority planning to curtail travel and move closer to family in a world they see permanently altered by the pandemic. More than half of respondents in a survey of wealthy investors by UBS Group AG said they feared not having enough liquidity in the event of another pandemic, while a similar percentage expressed worry about leaving sufficient money to their heirs.”

USAGOLD note:  The concerns of wealthy Americans are in themselves components of the overall pandemic-induced economic breakdown. According to this article, 30% are contemplating leaving the cities and a good many have already acted. More than 50% fear “not having enough liquidity”, which is shorthand for concern that they may not be able to preserve their wealth. An unsettling mindset …