Market Guru Sees Echoes of 1987 Crash as Recession Looms

Albert Edwards believes the current market has echoes of the 1987 crash as a recession is imminent.

Equity market resilience now reminds Edwards of 1987 when bullishness preceded a crash.

Edwards says rising bond yields worsen recession worries in a priced-for-growth market, with October the riskiest month.

Reasons for imminent recession include plunging trucking jobs and low real GDI growth, both recession indicators.

Small companies struggling with many bankruptcies while GDP declines caused by mega-caps borrowing cheaply.