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Need to Know: Analyst who predicted the 2008 crash warns of bubble brewing in U.S. household wealth

Much has been made about how much wealth is sloshing around in U.S. households and the significance of that fact.

Our call of the day, pulls no punches as it warns that all that oft-referenced increase in affluence, has been artificially inflated by the Fed, which is ultimately bad news for the economy and the stock market. Here’s how Jesse Colombo, analyst at Clarity Financial, explains it:

“The U.S. household wealth boom since the Great Recession is a sham, a farce and a gigantic lie that is tricking everyone into believing that happy days are here again even though the engines that are driving it are bubbles that are going to burst and cause a crisis that will be even worse than the 2008 crash,” Colombo said in a video he posted via the Real Investment Advice blog.

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