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FELIX ZULAUF: THE SECULAR BEAR MARKET WILL LAST ANOTHER 5 YEARS

Good thoughts here by Felix Zulauf of Zulauf Asset Management (thanks to Barry Ritholtz).     Zulauf believes the global economy remains in a deep contraction that has been only papered over by government spending.  But he sees austerity setting in now and now contributing to the decline in growth.  He predicts another 5 years in the secular bear market with the S&P 500 dropping to 500 by the middle of the decade.  Additional summary:

  • Austerity measures cannot work in a democracy.
  • Gold is a currency, not a commodity.
  • Prepare for an inflationary depression over the next 3 to 5 years.

You can hear the entire interview here.

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