As chief investment strategist of Clarity Financial and chief editor of Real Investment Advice, Lance issues commentary weekly on the financial markets. He sees a major market correction/crash dead ahead, likely in early 2019 as the US economy officially slides back into recession -- though he's open to it happening sooner than that.
Based on the huge debt/decifit excess that have built up in the economy, paired with the tremendous overvaluations in asset prices seen in today's markets, Lance expects economic growth to remain anemic (at best) for the coming decade:
It's a huge red flag. Look, at the end of the day, we can manipulate the bottom line of earnings statements all we want. But if I'm a business, look, I run three businesses, and if I don't have revenue coming in at the top line, I can manipulate my bottom line through accounting gimmicks. I can do some weight suppression. I can layoff all my employees. I can maintain an illusion of profitability for some period of time. But at some point I've got to have the revenue, which is what happens at the top line of the income statement.