“A credit bubble is brewing that will carry stocks and bonds higher for the next two to five years and then burst with a vengeance, says Brian Reynolds, chief market strategist of Rosenblatt Securities.
“People always overdo it [leverage] while they’re doing it,” he tells CNBC. “It’s a positive for share prices. When this cycle ends, we’re probably going to have more leverage, and that means the next bear market will be worse than the last one.”
That’s not particularly encouraging given that the Standard & Poor’s 500 plunged 58 percent in the last bear market (October 2007 to March 2009).”Twitter