https://www.youtube.com/watch?v=eBaGiywDVJ4
First, we cover stock valuations and also the current stage in the business cycle which is actually a credit cycle. Valuations are stretched near record highs only this time around leverage is much higher and There literally is no room left to stimulate the economy seeing how we are resting near the zero lower bound. Also, stocks are dependent on some kind of economic recovery at the end of the longest bull market in history. The stock market is always at all-time highs right before the crash. The performance of the S&P 500 looks exhausted having returned over 300% in the last ten years while wages have remained muted at best. Even the Fed admits we are in a bubble and this is the top reasons why the Economy is crashing
