ALBERT EDWARDS: Chinese devaluation is leading to ‘a financial market rout every bit as large as 2008’

Many experts continue saying the second half of September 2015 and the first half of October 2015 is the beginning of a major and imminent turning point for the world economy — and much graver than what was seen in 2008 or the Great Depression. For example, former Reagan advisor Martin Armstrong and his forecasting model that has never gone wrong are predicting a hit in the first week of October 2015, or 2015.75.

See also: The Shift in Public Confidence: 2015.75

Batten down the hatches.

 

Societe Generale Economist Albert Edwards might have finally out-beared himself. He says the China devaluation is a step towards “a financial market rout every bit as large as 2008.”

In his latest note, Edwards says the Chinese currency devaluation is the beginning of a period of serious foreign exchange weaknesses in Asia. Continue reading

Albert Edwards Says Watch Japanese Yen and Be Very Afraid

The Japanese yen goes into freefall. China’s fragile economy tips over the edge. A wave of profit-crushing deflation comes washing over the U.S. and Europe. Investors panic.

That’s the view of perennial pessimist Albert Edwards. The London-based analyst and his team at investment bank Societe Generale SA have been ranked No. 1 for global strategy in surveys by Thomson Reuters Extel every year since 2007, even with a history of saying unpleasant things that few want to hear.

“My role is to step back from the excessive enthusiasm that builds up in the market, and to just say, ‘This is wrong. This is going to go horribly wrong,’” the 53-year-old said by phone last week. Continue reading