He predicted that the S&P 500 index of U.S. stocks could be set for a fall of around 40 percent from recent levels.
I think we would be lucky if 40% down is correct. I forsee a targey of 3300 or so as the bottom.
It is becoming clear that the Chinese economy is imploding and this raises the possibility of regime change. To prevent this, the authorities would likely devalue the yuan. A subsequent trade war could see a re-run of the Great Depression
Dead on what I predict over a month ago.
In case you think this guy is overly bullish he was dead on Sept 4th.
http://paul.kedrosky.com/archives/2008/09/04/various_socgen.html
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