Alasdair Macleod cảnh báo về bong bóng thị trường chứng khoán vượt quá năm 1929, S&P 500 có thể đối mặt với mức giảm sâu 90%

The Huoxing Finance report states that on July 27, senior macroeconomist and Head of Research at Goldmoney, Alasdair Macleod, issued a warning that the current valuation bubble in the U.S. stock market may have surpassed the level seen before the 1929 Great Depression, with financial markets facing the risk of a "ultimate total crash." Macleod stated that imbalances in supply and demand in the U.S. Treasury market, reduced foreign buyer participation, and rising U.S. debt pressures could push Treasury yields higher continuously, ultimately impacting U.S. stock valuations. He believes that if market confidence reverses, the S&P 500 index could face a value drawdown exceeding 90%. The U.S. debt burden continues to rise, with approximately $10 trillion to $11 trillion in financing and refinancing pressures expected over the next 12 months. As buyers of U.S. Treasuries decline, the Federal Reserve may be forced to stabilize markets through balance sheet expansion and money printing, further eroding the purchasing power of fiat currencies. Macleod argues that modern financial assets fundamentally rely on the credit system, and stocks, bank deposits, and U.S. dollar cash all carry some degree of counterparty risk, whereas gold and silver, as physical assets not dependent on government credit, may serve as safe-haven options in extreme financial risk environments.