Perma anything is pretty stupid. But, if you're gonna do it you may as well develop a brand and make heaps of money out it.
Market Watch have this from Albert Edwards, global strategist at Société Générale. They pre-empt with:
- He has been steadily beating the doomsday drum for the past couple of decades
- Uber-bear gleefully shares the "most frightening chart" he has seen in a while
"I sometimes feel like 'The Grim Reaper,' scouring the research savannah in a ghoulish quest to harvest bad news with a forceful sweep of my scythe. Imagine then my perverse delight when our credit team produced what is one of the scariest charts I have seen for a very long time"
Anyway, so much for the brand-buiding ... here's the gist:
- Chart by Guy Stear, head of emerging markets and credit research at Société Générale
- Shows credit spreads holding steady even as political uncertainty spikes to an unprecedented level:
- Investors should be worried, said Edwards, as his analysis shows that U.S. debt is the "vortex of debility for the next recession."
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