Not if but when.
The big banks’ share prices are signaling that the day of reckoning is coming in 2019.
By Pam Martens and Russ Martens and cross-posted from Wall Street on Parade
Inevitably, investors get the kind of Wall Street they demand and deserve. That’s a paraphrase of the French philosopher Joseph de Maistre’s view on an engaged or unengaged citizenry: “Every nation gets the government it deserves.”
As groggy Americans arise this morning to face the reality that their holiday escapism is over and it’s back to the grind of work and daily doses of White House tyranny and dysfunction, at 8:00 a.m. Dow futures were pointing to an approximate 300 point drop at the open of trading in New York following the worst December for stocks since the Great Depression.
In short, Americans have gotten both the stock market and the government they deserve for failing to meaningfully reform both following…
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