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MORGAN STANLEY: The next credit crunch could trigger a financial crisis more painful than the last — and companies are only making it worse

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The next US recession could wreck markets and lead to billions in losses. And the pain is likely to be longer-lasting than it was during 2008's financial crisis.

 

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Morgan Stanley says US bank stocks will do well even when Fed pauses interest rate hikes'The irony is that financials didn't do well this year when rates are going up, it may be the case that financials do better in 2019 as the Fed backs off,' said Mike Wilson, Morgan Stanley's chief U.S. equity strategist. Noone buys this crap. Big banks are just glorified credit card companies at this point. They send you a cc offer at 23% for 5,000 but ask for a loan and good luck. Meanwhile shadow lenders offering fixed rates at 10% for the same 5,000. CNBC is so out of touch with reality.
Source: CNBC - 🏆 12. / 72 Read more »