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We're on the verge of a crisis
29 january 2015

We're on the verge of a crisis, bears warn


Wall Street's bears are back in vogue.

After nearly six years of a surging U.S. stock market, investors are worried about how much longer it will last. Suddenly, the views of the negative Nancys are getting a lot of attention.

The bears build their case that a crisis is near on four factors: falling oil prices, stagnant wages, the "two-edged sword" of a strong US dollar and big trouble abroad.

"Earnings and economic activity are actually weakening, not strengthening," says James Abate, chief investment officer at Centre Asset Management, which manages over $8 billion. "The growth outlook, to us, is deteriorating."

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