Societe Generale's chief global strategist, Albert Edwards, is known for his gloomy outlook on the markets. The self-proclaimed "uber-bear" warned in 1996 that Western economies and equities were in danger of following Japan into a deflationary bust. He now thinks we may be in line for an even bigger crash.
Central banks just don't learn, says Edwards. China is the latest example of "loose money" inflating a stock bubble and ending in tears, but it is merely a small preview of what's to come.
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But there's one shaft of light in the gloom: gold. Gold has taken a hit lately and the recent price slump could continue as low as $900 per ounce, but bulls won't be fazed. For them, the dip is a welcome prelude to "lift-off".
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Pension tax-free lump sum warning as early withdrawal could cost savers £63,000Savers could also be hit with income tax on money added to cash savings accounts
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Reeves told scrapping pension salary sacrifice would cost average earner £377 a yearMPs – including chancellor Rachel Reeves – have received a letter warning of the dangers in reducing or removing salary sacrifice schemes for pension contributions, a plan under consideration by HMRC.
