Back in June 2009, in "Société Générale's Albert Edwards, über Bull"" Mr. Edwards described how he saw the recovery developing:
An Armenian K:
I thought of that symbology while flipping through some of our Albert headlines:
May 8, 2008
This Week’s Advice: Canned Food, Guns and a Ham Radio
June 26, 2008
Société Générale: “We see a y-shaped global recession. We are going down before looping backwards”
Sept. 5, 2008
Société Générale's Albert Edwards: "Europe Is On The Edge Of A Deflationary Precipice..."
Hey, the end of the world will be good for pageviews....Société Générale's Albert Edwards: The descent into global C-H-A-O-S (September 20, 2010)
Société Générale's Albert Edwards: Cry Havoc and Let Slip the...Ah Screw it (Oct. 20, 2010)
"Société Générale's Albert Edwards: 'Equity Investors Are In A Vulcan Death Grip And Are About To Fall Unconscious"' (September 2010)
Société Générale's Albert Edwards: "Stocks Face ‘Ice Age’ Drop as Indicators Peak..." Euro to $1.25; We're all Doomed
Société Générale's Albert Edwards Upbeat, Almost Chipper: See's Humanity Approaching Broad Sunlit Uplands (Nov. 17, 2010)
Société Générale's Albert Edwards: We are all Japanese Now (July, 2010)
We are fans.*Société Générale's Albert Edwards: "I Have Been Wrong – I’ve Been Too Bullish" (Jan. 17, 2011)
And so is FT Alphaville:
FT Alphaville Albert Edwards.
Nothing to do here but quote as much of his latest Global Strategy Weekly Posts as we can without the SocGen strategist complaining…
We are at the most dangerous stage in the Ice Age – the ‘post-bubble cycle’. For although it is clear that leading indicators have turned downwards, the choir of sell-side sirens is singing its song of reassurance. The lesson from Japan was that once the cyclical rally is over, any downturn in the leading indicators should find you stuffing beeswax in your ears to block out that lilting melody so as to avoid the jagged rocks of recession.________________________________________________________________________________
My views on the outlook could not be clearer. They may be wrong, but at least they are clear. We still call for sub-2% 10y bond yields and equities below March 2009 lows._________________________________________________________________________________I have for a very long time likened events now unfolding with what we saw in Japan a decade ago. Of course there are some major differences, but one can still draw clear parallels to see how extreme equity overvaluations unwind in a post-credit bubble world....MORE
Roger that, Albert; May be in error, never in doubt. Over.
Lowest lows since last low lows. Over.
Today I am suffering some sort of neuronal cross-wiring. I've got Peter Graves in "Airplane" supplying the cadence:
Roger Murdock: We have clearance Clarence.Combined with Abraham Lincoln's PowerPoint presentation of the Gettysburg Address doing the bullet point thing...
Captain Oveur: Roger, Roger. What's our vector Victor?
Captain Oveur: That's Clarence Oveur. Over.
Roger Murdock: Huh?
Roger Murdock: Huh?
Captain Oveur: Huh?
We have a lot from Mr. Edwards. Copy and paste the keywords
"Société Générale's Albert Edwards"
in the blog search box.