Mark Yusko, CIO of Morgan Creek Capital Management, is unafraid to say it how it is. Recall in May, his keynote address warned:
‘I’m telling you right now, the US is going to have a crash and it will be massive,’ noting that that efforts to generate growth through fiscal stimulus and tax cuts will prove futile because the working-age population in the US is declining. As such, consumption – which makes up 70% of the US – will continue to fall.
Adding that ‘every time a President leaves the White House after two terms, there is a recession within the first year of the new administration. I believe this time will be no different.’
This post was published at Zero Hedge on Jul 11, 2017.