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."
So, there you go. Maybe Edwards' time is coming.