Unfortunately financial conditions are worse than 2008 today: the world has a lot more debt now than then at every level, the population is older, productivity is weaker, wages are flat, consumption is falling and corporate revenue and profits have been falling since at least 2014. All in all, capital risks have rarely been higher and investment prospects from these levels never worse. And now the index is back at secular resistance once more. But other than that… party on Garth.
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