The great reconciliation of asset prices
“The coming new year will be fraught with risk due to the removal of central bank and government supports. This could very likely lead to the collapse of the most overvalued stock market in history.”
USAGOLD note: That great reconciliation can be either nominal, i.e., a direct deflation of asset values, or it can occur through an inflation that diminishes the purchasing power of those assets. Pento offers much food for thought in this solid overview of where financial markets might be headed in 2022.