The stock market, like most asset classes, benefited from a decade long easing by the central banks of the world.
Albert Edwards believes that it is starting to look a lot like 2007.
At that time, the economy was doing well with many touting the terrific growth rate. A little over a year later, the global economy was in free fall.
He sees similiarities to that time in the markets now. According to his view, recession is just around the corner, something the markets are totally ignoring.
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