Time Running Out for Rally

by David Brady
Sprott Money

Market fundamentals continue to pile up on the negative side. ECB sits on its hands—i.e., does nothing new—and the Fed slashes liquidity, all while commercial real estate loan losses mount, retail mortgage delinquencies soar at a record pace, and the $600/week for numerous Americans ends in two weeks. Throw in an escalating trade and geopolitical war between the U.S. and China and it’s not rocket science to see where this is heading.

As China’s Zhou Li warned recently, due to the increasing risk of global supply shocks:

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