from connection of mine- there is going to be another steep fall
xxxxxxxxxxxxxx
who was until recently in a senior position in investment banking in the US , tells me cannot see a single chink of light anywhere.
Credit analysts at a major global bank whose client reports agree with this and say that the recent stock market rally is incomprehensible and the PE ratios are way too high - in other words there is going to be another steep fall.
They also predict a big rash of corporate bond defaults.
xxxxxxxxxx agrees with me that we are in a sustained orchestrated "spin" driven by politicians,the Fed and their friends in the media to try to boost confidence but the reality simply does not support the story of "green shoots".
xxxxxxxx is putting money in Canadian banks which were well regulated - American banks are just not safe.
Watch out for fireworks later this year as more countries lose their AAA credit rating -
I hope to God it won't be us but fear the worst.
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