It’s Not Just China You Should Be Worried About.
This morning, a desperate message from our analyst in Beijing….
Yes, so far, so good.
We’re not the only ones giving Neanderthal advice about holding on to physical cash.
“Crony Hung in Own Noose” is the headline we’d put on the story. Trouble is the noose is tightening on us all.
We’ve been waiting for a crash of stock prices. And waiting. And waiting. It still hasn’t come. The S&P 500 hit another all-time high. But the real action is in the bond market.
Economists who still have their wits about them – if there are any left – are baffled.
Where is that old and tattered “Crash Alert” flag?
We expect a crack – even a crash – in stocks this year. But that won’t be the end of it.
The biggest challenge is to figure out what to laugh at first. So many frauds. So much nonsense. So little time.