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There's a lot of people who are going to be very happy to ring out the year 2020.

The problem is the year we're about to ring in 2021 could be a whole lot worse.

Hopefully not health wise as far as COVID is concerned, but economically, I think this is

where a lot of the chickens are going to come home to roost, not just at the ones that we

let out in 2020, but the ones that we have been letting out for the years and years and

years that preceded 2020.

But first, let's take a look at what happened in some of the financial markets in 2020.

I want to start with the dollar because I think actually this is the most significant

financial instrument that we want to look at.

So the US dollar index was down almost 7% on the year, 6.75%.

But the decline is a lot more substantial if you measure it from the peak that the dollar

index had in March, April timeframe.

It got up to about 103 when COVID first broke out.

And there was a lot of bullishness near universal bullishness.

I was one of the few people who was bearish on the dollar.

Of course, I've got a lot more company now as it's more obvious where the dollars headed.

But back then, everybody expected the world to rush into the dollar as the port in the

storm, the COVID storm, the safe haven from all of the problems.

...