The litany of market happy talk is impressive, but the fundamentals of the #USeconomy are in awful condition and getting worse. A triple whammy of declining full-time #jobs, declining #productivity and slowing capital investment means that real #wages are stagnant. The result is a death spiral of lower #consumption, lower #investment, declining productivity, stagnant wages, and underemployment all feeding on each other and making the overall economy weaker. The news from abroad is no better. #China is slowing and may be on the brink of a credit collapse. #European growth is near zero and even the mighty #German economy is slowing. Against this backdrop, mainstream voices are beginning to call US financial markets a #bubble. Therefore, a #stockmarketcollapse is almost inevitable. Excerpt from Rickards: Stock market reality check” by #JamesRickards via #hanradio
Posted on: Fri, 25 Jul 2014 13:33:03 +0000
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