2016-04-08 — businessinsider.com
"Despite risk assets enjoying a few weeks in the sun our fail-safe recession indicator has stopped flashing amber and turned to red," wrote Edwards in a note to clients on Thursday.
Whole economy profits never normally fall this deeply without a recession unfolding. And with the US corporate sector up to its eyes in debt, the one asset class to be avoided -- even more so than the ridiculously overvalued equity market -- is US corporate debt. The economy will surely be swept away by a tidal wave of corporate default.
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