The indefatigably bearish SocGen strategist Albert Edwards made some entertainingly grumbling comments in Hong Kong today. Here’s a summary:
- Market will hit new lows in 2010 as we go back into recession
- Faith in growth stories is a “sick joke”
- Japan will fumble into bond sale trouble in 2010 as investor appetite dries up and yields climb
You have to give Edwards credit for having more staying power than most of his bearish brethren. Like Han Solo at the end of The Empire Strikes Back, Edwards is frozen in the bearish equivalent of carbonite – which is part of why we love him so.