Hugh Hendry, Part 6 of 8, Viewer mail: "Wake up, Hugh! We're at the beginning of the biggest bull market in history!"; Debt is "the elephant in the room".
Today, the various stimulus packages have also left behind a legacy of debt.
"I think we're in a generation where returns disappoint until we deleverage the economy," Hendry said.
The rally in stocks may have adverse effects on the economy, because interest rates on American mortgages follow the 30-year Treasury and if investors sell it, the yields will go higher and may push rates on mortgages higher, according to Hendry.
Hugh Hendry, Part 7 of 8 - Viewer mail: Hugh as contrary indicator? "The world's a better place when Goldman Sachs doesn't make money"
Hugh Hendry, Part 8 of 8 - Soros & currencies. The art market. Conclusion.
