Stocks Will Sink Further, Economist Rosenberg Says

Stocks are slumping, with the S&P 500 down 18% year to date. And prominent Wall Street economist David Rosenberg says the carnage isn’t over.

“We always believed these past two years represented a fake bull market, built on sand, not concrete,” he wrote in a commentary on MarketWatch. “We also remain steadfast of the view that the inflation scare is going to pass very soon.”

Among the bearish factors are a “collapse” in money-supply growth and the reversal of fiscal policy from…

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