Financial Times article where the author doubles down on his previous article pooh-poohing America. #791210
"this is a bubble in America’s performance relative to the rest of the world, not a 1990s-style mania in the US market. So, it can deflate in a benign way if the alternatives begin to look more attractive"
Fat chance.
Africa is a wartorn mess, China a prison, and Europe a museum of bureaucratic welfare state horrors, obsessed -- to add fuel to the fire -- climate eschatology. Close to zero chance that Europe gets it shit together (slightly higher chances for the UK).
I'm pretty bullish on Latin America, in general, but it has looked like a promising booming region for decades with very little to show for it still.
In the late stages of a bubble, prices typically go parabolic, and over the past six months US stock prices have outgained others by the widest margin for any comparable period in at least a quarter century. When flying in such thin air, it doesn’t take much to stall the engines. All the classic signs of extreme prices, valuations and sentiment suggest the end is near. It’s time to bet against “American exceptionalism”.
Is American exceptionalism about to go away? Hardly. TINA, etc.
On the fly, so can't archive a non-paywalled version. 500 sats to the Stacker who plops one in the comments