The last time we heard from Albert Edwards at the end of March, the SocGen strategist explained that clients always want to know if they should worry "NOW?" His answer, as many would expect, was that "yes they should" as there are now "very worrying signs that yet another Fed-inspired credit bubble is beginning to burst", among which a surge in small bank delinquencies and mortgage delinquencies, as well as the recent sharp drop in economic indicators and the US personal savings ratio.
Last but not least was the ultimate catalyst for every recession: rising rates.Albert Edwards: "In The Next Recession, The S&P Will Drop Below 666"
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