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Matt's Market Insights


With the Jefferson Conference wrapped up it's a pleasure to be back in sunny San Diego. Some observations below.


Robert Prechter of Elliott Wave International provided the lone argument for an impending deflationary scenario. He believes we are set up for a deflationary crash of greater magnitude than we saw during the financial crisis and likens the current environment to that which preceded the Great Depression. The emphasis of his argument is based on the current levels of debt. At this point the debt burden is so great that it's unpayable, regardless of what anyone does - including central banks. As a result he believes the economy will go the way of all over-indebtedness, which is deflation. An over-leverged economy forced to cut back on spending and investment will result in declining prices, driving the real value of debt upward. This places even more stress on the system and exacerbates a vicious ... Log in or subscribe to continue reading.

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