The stock market's new normal is a future of neverending chaos
, Joe Weisenthal has been highlighting executives who are telling investors that if a recession is coming, no one has informed their customers.
Back in 2009, policymakers set interest rates at zero hoping that eventually the US economy would be growing strong enough to withstand higher rates. Well, that dream has come true. The US consumer is pushing through higher rates and high inflation. It's all happening in circumstances and at a speed no one expected — and at a time that just might not be convenient for stocks.
This new normal would defy Wall Street's expectations and bring about a period that, frankly, is not as fun for stocks as the last one. "The 15 years of money printing created a significant bubble in asset prices," he said in an email to clients earlier this month."As a result, the big correction during this recession will not be in the economy but in asset prices as the Fed continues to deflate the buy-everything bubble created due to global easy money."
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