By Michael Pento
This powerful and protracted bull market has made Cassandras look foolish for a long time. Those who went on record predicting that massive central bank manipulation of markets would not engender viable economic growth have been proven correct. However, these same individuals failed to fully anticipate the willingness of momentum-trading algorithms to take asset prices very far above the underlying level of economic growth.
Nevertheless, there are five reasons to believe that this fall will finally bring stock market valuations down to earth, and vindicate those who have displayed caution amidst all the frenzy.
by Pinchas Cohen
Global stock momentum is heating up. Asian equities advanced for a ninth consecutive day, fired by yet another US equity record, and after the Bank of Japan, as expected, kept its unprecedented monetary stimulus. European stocks followed global counterparts higher.
FRANKFURT (Reuters) – New accounting rules for banks risk exacerbating economic crises by making them reluctant to lend if the economy suddenly worsens, the European Union’s financial stability watchdog said on Monday.
Guess which two markets I am watching right now?
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Full credit to: Charles Hugh Smith
The one thing we can know with certainty is it won’t be easy to profit from the crash.
After 8+ years of phenomenal gains, it’s pretty obvious the global stock market rally is overdue for a credit-cycle downturn, and many research services of Wall Street heavyweights are sounding the alarm about the auto industry’s slump, the slowing of new credit and other fundamental indicators that a recession is becoming more likely.
Few have taken the risk of projecting a date for the crash, this gent being a gutsy outlier: Hedge Fund CIO Sets The Day When The Next Crash Begins.
Next February is a good guess, as recessions and market downturns tend to lag the credit market by about 9 months.