Albert Edwards: The Fed Has Jury-Rigged The U.S. Market, Setting It Up For a Fall

``Japan still had a chance, however, since it had not allowed its financial markets to run out of control like the US. Edwards cited Leo Lewis of the Financial Times, who said 55% of Japanese corporations have more cash on hand than debt, while less than 20% of S&P 500 companies do. Thus it appears Japan has put itself in a more advantageous position in the event of a possible economic downturn. So with high price-to-earnings valuations in the US and less cash-to-debt, it would appear that America's markets are set up for a steeper fall than Japan's.''