Albert Edwards: Fade Brexit, Focus On China's Stealth Currency Devaluation

There is a major crisis facing the world economy, Societe Generale’s outspoken analyst Albert Edwards says, and it’s not the over-hyped Brexit that matters. There is a stealth currency move that is taking place that “is far more important for the global economy,” Edwards wrote in a June 22 report.

Don't act like sheep

When speaking with institutional clients around the world, Edwards notes an interesting trend. They all tend to ask the same questions. It’s not the first time Edwards and other financial analysts have noted a herding behavior, but in this case they are missing the bigger issue.

The current trend centers on...