Bank Stocks Taking a Nose Dive?


Armstrong Economics Blog/Banking Crisis Re-Posted Nov 30, 2020 by Martin Armstrong

The London Financial Times reported that HSBC is considering divesting US retail banking. “Executives want to submit appropriate plans to the board in the coming weeks.” What they are concerned about is Biden taking the White House. This entire 2030 Agenda you will own nothing and be happy, is all about forgiving all debts to act as a cover for government defaults. When we look at the European STOXX600 on banks, we can see that 2020 has produced a new historic low since the major high. A year-end closing below 115 will warn that the bank stocks even in Europe will face the same outcome and a further decline in 2021 cannot be ruled out.

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