– Review of 2018: ‘Everything bubble’ started bursting
– International stock market indices and many property markets have fallen sharply
– S&P 500 -4.5%, Nikkei -8%, EuroStoxx 50 -12.5%, FTSE -13%, DAX -16.5%
– Of 54 major international stock market indices, only 6 are higher (see table below)
– Global property bubble bursting – London, Sydney and Vancouver fall nearly 10%
– Crypto bubble burst as bitcoin falls from $20k to below $4k and cryptos collapsed
– Collapse of central bank driven asset bubbles to continue and intensify in 2019
– Gold lower in USD in 2018 but gains in EUR, GBP, AUD, CAD and most currencies
Editors note: In our first Goldnomics podcast this time last year, we considered the outlook for markets in ‘What 2018 has in store for financial markets’ (here). A year later our conversation looks quite prescient given how stock market (see below) and property market bubbles have started to burst and the collapse of the crypto and bitcoin bubble.
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