Coronapocolypse: Will the virus kill the world econom¥?
Corona used to have a nice ring to it. A light, cold beer with a piece of lime squeezed into the bottleneck. It
was associated with sunny barbecues, burnt sausages, beach days with friends, summer tunes and easy
living. The beer manufacturer pleaded to the public to stop calling this plague by their product’s name. They
lost that fight. Corona is now unfortunately associated with quarantine, isolation, death and economic
disaster.
Or WILL there be an economic disaster in the aftermath of this plague? Is it time for you to trade your car
for a horse, buy a gun and dress up in leather to go live in the wild Mad Max-style? This is the question du
jour.
We have already seen businesses go belly-up and markets plummeting, but we have also seen companies
that have benefited from this crisis. We’re definitely wishing we had put more stock in toilet paper
manufacturers and medical suppliant companies. Perhaps now is the time to change your dollars to cryptocurrencies?
The problem for most of us now is navigating in the dark. The prognosis that you were reliant on, the
information from market reports, are all out the window. Once you get new updates they are already
redundant due to the virus’ rapid spread affecting so many new regions daily. The crisis is perhaps the
closest we have come to a world war in decades. Only, our grandparents were asked to pick up arms and
fight we are asked to stay at home to tackle a different kind of battle. In the end, we will be fine but right now
everything is upside down and the economy will take a beating.
We are however blessed with the power of the internet and AI. Something the population in the 1940s
couldn’t dream of. Not even Mad Max had AI to tell guide him in the right direction!
With everyone being online we can read human economic behaviour in real-time! The ability to read that is a
HUGE advantage. Real-time knowledge in a time of rapid changing crisis is the only source of information
that comes close to letting us know of what is going on with the economy right now. Big data gives us
insight into human economic behaviour and people’s related concerns, which paints a surprisingly clear
image of where we are heading.
That is why today we are launching the My Telescope Market Confidence Index. Your own crystal ball into
seeing the state of the economy. The index follows: unemployment rate, economic demand, governmental
actions and packages, consumers and buyers’ trust in the market, and organisations’ competitive power.
The index is built on sentiment and behavioural economics, and unlike traditional analysis, it is done in real
time-based on how humans behave online.
Business success is based upon information about a market in order to make the best decisions. We all need
to have a good understanding of what to expect in our market in order to set-up the right amount of
investments, either personal or in merchandise, to make a profit. Our index makes that possible even in
times like this. The key to this knowledge will cost you less than the horse and gun and will help you make
decisions so that you will have money left to buy that sexy leather outfit!