Goldman’s CEO Warns on Markets: ‘Things Have Been Going Up for Too Long

Goldman Sachs Group Chairman Lloyd Blankfein told attendees at a Handelsblatt business conference in Frankfurt, Germany that:

Things have been going up for too long.When yields on corporate bonds are lower than dividends on stocks? That unnerves me.

According to The Wall Street Journal, the remarks came near the end of a question-and-answer session with him. Blankfein participated via a video link, speaking from Goldman’s headquarters in New York.

In the EPJ Daily Alert, I am warning about a choppy early autumn but not much more in terms of problems for the economy in the near term time frame.

Remember, when it comes to the economy and markets, Blankfein doesn't know his ass from his elbow. (As opposed my real time warning of the crisis as detailed in The Fed Flunks) He was caught with major exposure to the subprime crisis and had to be bailed by his Goldman crony buddy and then Treasury Secretary Hank Paulson. The sap President George W. Bush got talked into the bailout.

Blankfein has his minions are all over the Trump administration. It will be so even if Trump kicks out Gary Cohn.

-RW