Are US or Australian stocks about to crash?

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The AFR reckons the US is at risk:

Trade wars, an export-sapping US dollar surge, rising US interest rates, and worsening turmoil in Argentina and Turkey may as well be on another planet as far as US equity investors are concerned.

As a superlative-busting northern summer rally extends into autumn, US stock market indices have been shooting out the lights.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.