The Stock Market Bulls are in fantasyland – David Rosenberg

Rosie ?

David Rosenberg bluntly told attendees Monday at John Mauldin’s Virtual Strategic Investment Conference 2020 that the stock rallies in recent weeks ignore reality and don’t recognize that the United States is likely entering a depression, facing double-digit unemployment for at least three years, secular changes in consumer spending and saving, and deflation followed by stagflation.

We are in “The Great Repression,” and the downside risks brought on by the COVID-19 pandemic are not being factored in by a lot of people, he said. “Seriously, fully 80% of the stock market rally since the end of March has taken place on the days of the seven-worst readings on initial jobless claims of all time,” Rosenberg noted. “It’s surreal that we got that huge rally on Friday following the payroll figure.”

Read the full article here (if you value your investments):

Bulls are in fantasyland

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