Home Blockchain News UBS CEO Sergio Ermotti Basically Admits Equities Are A Ponzi Scheme

UBS CEO Sergio Ermotti Basically Admits Equities Are A Ponzi Scheme

by Rss Feed from web
180 views
cryptocurrency news feed

Speaking at a CNBC panel at the World Economic Forum in Davos, Sergio Ermotti, the chief executive officer of Swiss bank UBS said the massive December sell-off was the result of political fears as well as the reality setting in that the Fed is tightening up the money spigots. December losses on the S&P 500, Dow Jones, and NASDAQ made 2018 the worst year for equities since the devastating financial crisis of 2008, the worst December of trading on the U.S. stock market since 2008 as well, and even the worst December since the Great Depression. U.S. Stocks Were Massively

The post UBS CEO Sergio Ermotti Basically Admits Equities Are A Ponzi Scheme appeared first on CCN

Click To Read Full Article

* First published on ccn.com

Related Posts

Leave a Comment