Posted on 11/10/2009 1:38:04 PM PST by blam
Albert Edwards: The Market Will Hit New Lows Next Year
Joe Weisenthal
Nov. 10, 2009, 11:34 AM
SocGen's resident uber-bear Albert Edwards is at it again:
Reuters (via Paul Kedrosky): People should question the happy clappy nonsense from sellside analysts," London-based Edwards, a global strategist with SocGen's Corporate & Investment Banking group, told a media briefing.
"We are not saying that people should not participate in the rallies -- that will get you fired as a fund manager -- but they should not become too convinced of the recovery," he said.
Edwards is more worried about Japan in the near term as he expects the world's second-largest economy to run into difficulty funding itself next year as demand for Japanese government bonds wane and bond yields rise further.
This particular concern, about Japan's ability to fund itself, is a hot one of late. But then, people have wondered about the government's ability to finance itself for years, and the only thing that's happened is that rates have slipped.
[snip]
(Excerpt) Read more at businessinsider.com ...
They’re not “New Lows”, they’re just old highs...............
Terrorist attack on US soil: Market goes up.
Highest unemployment since the depression: Market goes up.
Worst economy since the 1930s : Market goes up.
Most burdersome new regulations/laws in history : Market goes up
Major tax increases coming soon : Market goes up
Something isn’t computing here.
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