Fed Warns No Return To Normal Until 2021, Goldman Downgrades Q3 & Q4 (Video)
Fed Warns No Return To Normal Until 2021, Goldman Downgrades Q3 & Q4 Video by Silver Report
The US stock market has never been this overvalued in history according to Goldman Sacs and it’s largely due to the collapse in earnings since the decline began.
Goldman also downgraded their Q3 and Q4 estimates and now predicts the Earnings will be nowhere near normal anytime soon. The Federal Reserve was also warning the US will not be back to normal until 2021 at least throwing water on a lot of the excitement that has been built around this V-shaped recovery narrative.
Their predictions though not good also predicted that things could get a lot worse should we see an acceleration in our current situation. And despite the recent assurances we seem to have already crossed that line. The truth is the evidence of a V-Shaped recovery doesn’t exist despite the constant suggestion it’s almost here.
The recent surge of retail investment is also another strange phenomenon and the sky-high valuations mean this market is priced for perfection and I anticipate the headlines are about to be the breaking point.