by Adam Sharp
Daily Reckoning
Headlines blamed yesterday’s crash on Trump. It’s the tariffs!
But I have a much simpler explanation: U.S. stocks have never been so overvalued. With stocks trading at nosebleed valuations, almost anything could catalyze a crash.
Sure, tariffs played a role, but the underlying problem is the bubble itself. American stocks are priced for perfection, so anything less than that is bound to disappoint.
If this is the beginning of a new bear market, gold and silver offer an excellent place to hide out, and even make some gains as the market falls apart.