Albert Edwards Ice Age Thesis Creative Writing Video
He has scarcely had a good word since for the established church of central banking.In the early noughties, when a callow Buttonwood was a colleague, he charged Alan Greenspan, the Federal Reserve chairman, with near-criminal negligence for his easy-money policy.
The risks of a hard landing in China have not abated. Mr Edwards cites a survey that shows how younger Italians are far more hostile to the European Union than older ones. “Fat-cat ”, a policy (favoured by Jeremy Corbyn, leader of the opposition Labour Party in Britain) of personal tax cuts paid for by printing money. When recession bites, “Corbyn will be seen as a moderate!
Italy’s steep unit-wage costs militate against the jobs the young crave. ” The pressure on policymakers to do something will be hard to resist.
To protect themselves, investors should favour cash and gold.
Albert Edwards, the ultra-bearish global strategist at French bank Société Générale, has argued for many years now that the world is facing a financial “ice age”, with the developed world following Japan into an era of collapsing bond yields and flattening equity prices.
He hasn’t changed his mind yet, telling a conference in London this month that yields on US government debt will slide below zero percent during the next recession.