Why stocks will fall much further

Tuesday, 3 May 2022

Morgan Stanley with the good news. The macro reasoning is very simple. Massive US inventories hit by consumer demand hiccup as the Fed crushes asset prices which spills over to Europe and China already on their knees from war, energy, property and OMICRON shocks.

Voila! Global recession.

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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.