We're back on track now and the prediction from my cycles was next year and the year after were going to be very, very tough economic years. If I had to put a date on the beginnings of a proper new bull market, it's 2023. Then I think the next generation, the millennials, will be in the driving seat. There're a lot of new technologies that they will want, and they'll have quite an exciting thing and they’re quite likely coming up from much lower levels than we are now. And all sorts of things that we old baby boomers got used to, this new generation has a whole new set of things that they can do. If you think about built-in 5G and things like that, one can easily tell a bullish scenario.
But we've got to get rid of all this debt. We've got to get houses and certain assets back down to levels where a normal person can afford a property to live in. So all of that's got to return to something when nice young people with proper jobs can afford an economic activity that doesn't look as though that will happen until 2023. So, we've got a tough period to get through.
In trying to hang it together with this disease, I think the yield curve of the death rate will flatten out. But as soon as governments say start going back to work, the death rate will pick back up again. So, there can be subsequent humps.
We will be getting news from pharmaceutical companies encouraged by government money to bring on potential vaccines, and some of them will be helpful, but they wouldn't have passed all the tests so that they're available at least till the end of this year. And that's super early, it should normally take longer than that. Meanwhile, elsewhere in the world, this whole disaster is going to rumble on round. So I think it is very serious indeed and we're trying to survive.