“I always thought we lived in a rather enchanted world, where interest rates were zero and we kept printing money all the time. And it looks like theoretically that world has ended. And, of course, stocks haven’t done much this year.
And now we have, certainly, signs of things cracking. To wit, the 20% decline in Facebook, Netflix running into a few problems, some of the companies that are affected by exports, particularly autos…
So we have some segments of the market that are in a bear market. That’s a logical outcome of rising rates. It’s a thing you and I have talked about ad nauseam here.”
- Source, Sprott Money
