by Jeff Berwick
There has rarely ever been another time like this.
Not since 1999 and not since 1929 before that, have so many billionaires, central banksters, financial elites and fund managers, warned that we are on the verge of a catastrophic bust.
And now, Joe Baratta, Blackstone Group LP’s top private equity deal maker, admits at a WSJ conference this week, “You have historically high multiples of cash flows, low yields. I’ve never seen it in my career. It’s the most treacherous moment.”
The most treacherous moment!
Rarely before have we seen the US stock market at near record highs with so many people warning it is about to burst…and the last two ended with catastrophic busts. And now we have another multi-billion dollar fund manager calling now the “most treacherous moment”.