Artificial Wealth vs GDP: Why Earnings And The Stock Market Will Get Crushed
The comments below are an edited and abridged synopsis of an article by Mish
Mish sets out the case for an earnings smash accompanied by a continuation of the stock market crash. He discusses imaginary wealth and hyper-financialization; earnings forecasts; which earnings estimate do you believe; the case for an earnings crash; feedback loops; de-globalization; a protracted war in Ukraine; climate change; unionization; 22 million boomers are headed for retirement; central bank concern over reigniting inflation; the end of a 40-year bond bull market; and risks are strongly skewed to the downside.
