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Date Posted: 21:00:36 1/25/23 Wed
Author: Jasper
Subject: John Hussman writes, gata say I have never read him being more pessimistic.

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The distortions in the financial markets are different today than they were in 2007. This time around, the Fed starved investors of yield for a decade, and much more aggressively. Looking in the rear-view mirror, the effects relentless yield-seeking speculation look glorious. But the unwind may be breathtaking. The distortions in the stock market are far beyond those of 2007, more closely resembling 1929 and 2000. That remains true, even though the bubble peaked a year ago. Since then, the S&P 500 has lost a modest -15.7%, including dividends.

I continue to expect that the unwinding of this bubble will drive the S&P 500 to just one-third of the level it set at its January 2022 peak. I know – that seems preposterous. That’s why I present statements like that with data, as I did before the global financial crisis in 2007, and as I did when I projected an 83% loss in technology stocks in March 2000. Preposterous, yet also unfortunately correct.

https://www.dollarcollapse.com/john-hussman-pushing-your-luck/

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