Andrew McCombe:
Hey guys, Andrew McCombe here from LeadWell Global. I’m with our Head of Wealth at LeadWell Global Suren Pather. Suren interesting times financially at the moment. What’s going on?
Suren Pather:
Well look, it’s very interesting times. This whole issue with the Coronavirus is causing havoc not just, in terms of supplies, but also in terms of financially. We’ve seen some wild swings in the stock market up and down. And I think this is just the beginning.
Andrew McCombe:
Is it related to Coronavirus or is it something deeper at play?
Suren Pather:
Look, I think there’s something deeper at play, because I think due to unresolved issues since 2007 to 2009 and now that we’ve got to this what I call exogenous is shock, caused by the Coronavirus, it’s feeding into the financial systems right now and how deep it goes, I think will relate to what actually happened in 2007 to 2009.
Andrew McCombe:
So you think it’s symptomatic of a prior cause?
Suren Pather:
Look, I like to think that everything is linked in this world. So I think that what’s happening to the world as such, you know, is also related to what’s happening financially in the world.
Andrew McCombe:
So what is the solution do you think? Like obviously there’s a lot of stress going on, the stock markets are tanking, pension funds are dropping, everyone’s freaking out, there’s a lot of panic. What’s the solution?
Andrew McCombe:
Look, I think we’ve got to cure the underlying problem, which was neglected when this very issue began. I think we need to go to the very beginning to understand what started these financial issues and understand that before we can look at, you know, the immediate effects caused by the Coronavirus and what it could lead to and then what solutions there might be.
Andrew McCombe:
Okay. So this video here, we’re just raising awareness on that, the fact is, it is what it is. There is a problem. Next video we’re going to talk about that the cause of the problem. And then the third video we’re going to talk about the solution, is that fair to say?
Suren Pather:
Sounds fair.
Andrew McCombe:
So just to sum up this, the scenario at the moment, we’ve got a, you call it a shock, a…?
Suren Pather:
Exogenous shock. Yeah. Um, that I think is affected what I call supply side economics. If you look at what’s really going on at the moment, you know, doors are being closed, you know, started with companies being closed, then next leading to borders being closed and everyone’s then sealing up their borders. Now what does it mean? It means in terms of supplies, if we get externally that cant come through, but the components for, you know, certain items that you can’t build, it might be, the bottles that are needed for putting the liquids in. Now you’ve got supply side problems and then it feeds into a whole range of issues, for firms that are in the current economy.
Andrew McCombe:
So interesting times.
Suren Pather:
Absolutely. Absolutely.
Andrew McCombe:
Okay, well guys, if you want to watch the next video on the cause of this, this situation doesn’t all, it’s not all what it appears, then click the link above or in the description below. And we’ll also have the third video, there for you as well. Suren, thank you and we look forward to seeing you in the next video.
Suren Pather:
Fantastic, thank you Andrew.
