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The 99 Percenters

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We are Headed for Economic Collapse

The 99 Percenters :: General Discussion :: Issues

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We are Headed for Economic Collapse Empty We are Headed for Economic Collapse

Post by Admin Wed Jul 20, 2022 9:35 am

The casino on Wall St. guarantees that there will be bursting of the bubble. It will happen again as it did in 2007. This time there will be no rescuing of the economy.
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We are Headed for Economic Collapse Empty Re: We are Headed for Economic Collapse

Post by Admin Wed Jul 20, 2022 9:37 am

Bubble expert Jeremy Grantham predicts weak earnings will hammer stocks - and warns the S&P 500 could plunge another 25%
Jeremy Grantham warned a looming slump in corporate profits would send stocks tumbling again, and suggested the S&P 500 could plunge by another 25%, in a recent interview with the Associated Press.

"Of course earnings will now come down," the veteran investor and market historian said. "The big second shoe falls where earnings decline," he continued, noting the first shoe was the compression of valuation multiples for stocks.

Grantham estimated the S&P 500's fair value in a year's time would be around 3,000, and emphasized it could trade below that level for several months. The benchmark index has already sunk by 18% this year to around 3,940.
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