HQH - Investing In A Stock Market That's Due For A Hard Landing
Originally published August 27, 2018
I simply don't trust the fundamentals of the global economy right now. The system is built on quicksand.
Debt is growing globally and governments are running huge deficits while interest rates are still incredibly low. Looking at almost any metric, stock markets have been more expensive once in the last 100 years - just before the dot-com bubble burst. There is also another risk in a category of its own: China.
A recent Bloomberg report on Chinese real estate noted that from June 2015 through the end of last year,