The stock market rout resumes

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No point putting anybody else’s strategy up because they’re all wrong. BofA has been and remains spot on.

The World in a Nut: inflation in America, stagflation in Europe, deflation/devaluation inChina/Japan, bear market on Wall Street.

The Biggest Picture: S&P500 loss adjusted for inflation YTD =18.1% = US stocks in real terms on course for worst annual drop since 1974(Chart2).

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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.