From the Port Phillip Insider (AUS) –
For some time we’ve told you about our concerns with the market.
We’re worried that the market is only being held up by artificially low interest rates.
We’re worried that the US market is climbing higher, even though company earnings are falling.
We’re worried that companies are refinancing debt at low interest rates, with short maturities, in the belief that interest rates will stay low for the foreseeable future.
We’re worried about plenty of things. When it comes to the financial markets, we worry. But only because there are plenty of things to worry about.
As an aside, it’s one reason why we’re such a fan of gold. We view gold as an ‘insurance policy’ against the worry. Especially the worry caused by central bank and government meddling.
Now there’s another reason to worry. Not necessarily from a major crash perspective, but from a short term stocks-could-fall-up-to-20%-or-more-from-here perspective.