Markets on brink of another precipice

If I was heavily invested in these stock markets I would be scared stiff.

I cannot predict the future but the present position in the global economy reminds me of what I was once told about weather forecasting.

Assume that tomorrow’s weather will be like today’s and you will be right more often than all the boffins with their detailed observations and computer programmes.

My working assumption is that the world economy and its stock markets are in a ghastly bind today and it is going to be just as bad, if not worse, tomorrow.

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Falls must mean its cheap, right?
The big argument for shares rests on the idea that after such big falls they must be cheap. This is a manifestly ridiculous argument.

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