ALBERT EDWARDS: The Markets Will Become Locked In A ‘Freddy Kruger-Like’ Nightmare That Takes Stocks Down To Levels Not Seen In A Generation
SAM RO
BusinessInsider.com
FEB. 6, 2014
Amid the turmoil in the emerging markets, Societe Generale strategist Albert Edwards is as bearish as ever.
“Our warnings throughout last year that an unravelling of emerging markets (EM) was the final tweet of the canary in the coal mine have still not been taken on board,” he wrote in a new 6-page note to clients. “The ongoing EM debacle will be less contained than sub-prime ultimately proved to be. The simple fact is that US and global profits growth has now reached a tipping point and the unfolding EM crisis will push global profits and thereafter the global economy back into deep recession.”
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