‘The stock market can drop as much as 80%’: A 47-year market vet explains why we’re in the midst of a global bust — and makes a case for $10,000 gold

SourceMarkets Insider
SectorFinancial Markets
CountryMiddle east

David Hunter, the chief macro strategist at Contrarian Macro Advisors, thinks the global economy is in the midst of massive "bust" consisting of two distinct phases.Phase two of the bust — which Hunter is forecasting to take place in late 2020 or early 2021 — will be "steeper and deeper" than the ongoing first phase.When all is said and done, Hunter thinks the stock market can lose up to 80% of its value. Due to unprecedented stimulus and inflationary pressures, Hunter thinks gold can hit $10,000 or higher in this decade.Click here to sign up for our weekly newsletter Investing Insider.Click here for more BI Prime stories. David Hunter, the chief macro strategist at Contrarian Macro Advisors, isn't coy in his assessment of the prevailing economic environment. "I think we're in the bust...read more...