I like it when someone besides a few financial bloggers takes the gloves off and starts asking some hard-hitting questions.
In Cross Asset Research last week, Albert Edwards at Societe General did just that. Emphasis in italics is mine.Fragile and vulnerable in itself, the US recovery now battles against the rest of the world, which like a horror movie is dragging it down into a hellish Ice Age underworld. The problem is that at these stratospheric valuations, the market does not need to suffer an ACTUAL recession to see a crash. Like October 1987, just the fear of recession will be enough to trigger a massive market move. Continue reading