Or opportunity of a lifetime? That’s the question economist Scott Grannis asks as he surveys the sickly prices of stocks and corporate bonds.
Any way you look at it, the pricing on corporate bonds and stocks today implies that the next several years will be the most disastrous in the history of the U.S.
In order to fully appreciate why that prediction is unlikely to prove correct, consider that not one of the key ingredients that precipitated the depression exists today.
(Hat tip: Real Clear Markets)
