SocGen warns of ‘tidal wave of corporate default’
The latest offering from the perma-bear community, delivered by Albert Edwards at SocGen, is, well, bearish. US corporate profits are suffering a "gut wrenching slump," Mr Edwards warns, adding "whole economy profits never normally fall this deeply without a recession unfolding. The economy will surely be swept away by a tidal wave of corporate default."
Mr Edwards says the recent rebound in the S&P 500 is misleading. "Ignore this noise", he insists, "Recent whole economy profits data show that while the Fed plays its games, the economic cycle is withering and writhing from within."
I've made good money shorting the pound, I'm selling rallies on the US30 now.
More easy money!
The latest offering from the perma-bear community, delivered by Albert Edwards at SocGen, is, well, bearish. US corporate profits are suffering a "gut wrenching slump," Mr Edwards warns, adding "whole economy profits never normally fall this deeply without a recession unfolding. The economy will surely be swept away by a tidal wave of corporate default."
Mr Edwards says the recent rebound in the S&P 500 is misleading. "Ignore this noise", he insists, "Recent whole economy profits data show that while the Fed plays its games, the economic cycle is withering and writhing from within."
I've made good money shorting the pound, I'm selling rallies on the US30 now.
More easy money!
Comment