Edwards is known for his 1996 “Ice Age” thesis, in which he envisioned a world going to hell in a deflationary handbasket as inflation becomes elusive and growth sputters.
The theory underpins his argument that if the Federal Reserve raises interest rates, a deep recession in the U.S. will result, dragging the rest of the world over the cliff. Edwards believes that investors flocking to U.S. stocks will be devastated in a market correction — a stark contrast to the general consensus that they currently offer investors the best bang for their buck.
“It is madness, what we are seeing,” said Edwards. The coming crash, he said, “will be horrific compared with what we’ve seen so far.”
Sue Chang, MarketWatch Sept 19, 2016
More about Albert Edwards at IntCom