Financial Times/Robin Wigglesworth, Philip Stafford and Tommy Stubbington/3-29-2022
“Yet many investors and analysts have been surprised at the remarkably modest fallout for the global financial system, and the lack of broader, serious reverberations so far. … ‘I’m shocked at how resilient markets have been,’ says Robert Michele, the chief investment officer of JPMorgan Asset Management, the US bank’s $3tn investment arm.”
USAGOLD note: Carmen Reinhart, who is generally considered one of the world’s top experts on the nature of financial crises, is concerned that what we are experiencing in global stock markets now may be the calm before the storm. “Contagion,” she says, “works in mysterious ways.” We highly recommend this in-depth review of where we are now and where we might be headed.
