Today’s letter is one of the most vital publications I’ve ever put out. The next couple of years could bring life-changing alterations to the global economy. It could lead to the financial RESET.
The widest wealth gap since World War II… record low labor-force participation rates… a middle class that will cease to exist by 2020… Despite a market melt-up and ultra-confident employment numbers, the Wall Street rhetoric somehow doesn’t match up with the Main Street reality. Could this lead to an out-and-out revolt, and when will it happen?
Now, in the U.S., there is yield curve inversion forming, but, globally, there already is one.
This is certainly not a value investor’s dream. We have been enjoying a bull market in real estate and U.S. equities, almost uninterrupted, for nine years and three months.