Albert Edwards: This "is one of the scariest charts I have seen for a very long time"

Policy Uncertainty not being priced in by markets?

Albert Edwards, Societe Generale’s resident market bear, or how he describes himself “The Grim Reaper,” seems beside himself in a December 8 report. It’s not his own market bearishness that has him excited – his “ghoulish quest to harvest bad news” is something of a monthly ritual. Sometimes he is correct, other times less so. What is frightening him Thursday is a single chart published by the Soc Gen’s normally upbeat if consensus positive credit team, which he says “is one of the scariest charts I have seen for a very long time.”

[dalio]