Why Global Potholes Threaten Decade-Long Bull Market

While bulls are anticipating acceleration in the rates of U.S. and non-U.S. economic growth and an extension in the expansion in corporate profits, the reality, based on recent high-frequency economic data, is that the global economy is slowing in its trajectory and that growth in corporate profits will tail off shortly.

This is a nonconsensus view and forms the basis for my ursine market view. Tops are processes and it is my continued view that a 2018 high in the S&P 500 Index was made in late January.



David Stockman's Contra Corner is the only place where mainstream delusions and cant about the Warfare State, the Bailout State, Bubble Finance and Beltway Banditry are ripped, refuted and rebuked. Subscribe now to receive David Stockman’s latest posts by email each day as well as his model portfolio, Lee Adler’s Daily Data Dive and David’s personally curated insights and analysis from leading contrarian thinkers.