by Gary Gordon | Jan 22, 2020
The world’s massive debt-to-GDP ratio is, in many ways, unimaginable. 322%! Countries with limited borrowing capabilities could face extraordinary hardships in meeting financial needs. And the refinancing risk? A total of more than $19 trillion of syndicated...
by Gary Gordon | Jan 21, 2020
Corporate debt as a percentage of GDP correlates with recessions and market tops. In every credit cycle, excessive leveraging leads to rapid deleveraging to restore balance sheets. Indeed, the last three recessions (as well as their corresponding stock declines)...
by Gary Gordon | Jan 20, 2020
“Bubblicious” evidence is blindingly glaring when one examines the disconnect between S&P 500 stock prices and corporate profits. In the late 1990s, stocks rocketed (green line), even as profits had flatlined (red line). In the late 2010s? Same exact thing. The...
by Gary Gordon | Jan 18, 2020
The total value of companies (Enterprise Value) in relation to profits (EBITDA) has surpassed the bubble peak from 2000. No stock bubble here?
by Gary Gordon | Jan 16, 2020
Consumers may drive 70% of U.S. economic growth (GDP). And consumers may be quite confident about the present-day economy. On the flip side, the difference between consumer expectations for the future and current consumer conditions is at levels seen just before...
