Stocks set to slideGuru watch

Felix Zulauf, the founder and head of Zulauf Asset Management, is “seldom wrong” about markets, says Wirtschafts-woche. His warning in 2008 of trouble ahead for the wider economy proved prescient. Today, Zulauf is still gloomy.

Felix Zulauf, the founder and head of Zulauf Asset Management, is "seldom wrong" about markets, says Wirtschafts-woche. His warning in 2008 of trouble ahead for the wider economy proved prescient. Today, Zulauf is still gloomy.

With monetary policy having no impact on demand in debt-soaked economies, and fiscal policy now "contractive, not expansive", the outlook for growth is clouding over, he says in Barron's. Given their weak fundamentals, "economies around the world most likely will be in recession next year". Longer term, the growth outlook is discouraging as we have so far failed to "bite the bullet" and tackle our massive debt load. "We have begun "the Japanification of the western world".

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.