Stock markets will drop another 40% as a severe stagflationary debt crisis hits an overleveraged global economy
“For a year now, I have argued that the increase in inflation would be persistent, that its causes include not only bad policies but also negative supply shocks, and that central banks’ attempt to fight it would cause a hard economic landing. When the recession comes, I warned, it will be severe and protracted, with widespread financial distress and debt crises.”
USAGOLD note: “The crisis is here,” says Dr. Doom in one of his gloomiest projections to date……and it is not fully priced in. He adds that central banks despite the “tough talk” will feel “immense pressure” to pivot from tight monetary policy.