Are U.S. Stocks 20 Percent Overvalued?

Investors have been asking themselves what to make of U.S. stocks having risen about 19 percent since November 4, 2016. That rise has precipitated debate about the degree to which stocks are overvalued; and there are many conflicting views. Appealing to fundamentals can clear the smoke.

We’re addicted to debt and headed for a crash. It could be worse than 2007 | Zoe Williams

Ten years ago the culprit was sub-prime mortgages. Personal credit is out of control in Britain now. We seem to have learned absolutely nothing

When Provident Financial lost £1.7bn in share value a little over a week ago, a handful of people asked whether this was a Northern Rock moment. The Provident extends high-interest loans to low-income people, and as such could be seen as a bellwether in the manner of a sub-prime mortgage company, the first to go under when debt becomes unbearable, the signal that credit is, once again, about to crunch.

Related: Doorstep lender Morses swipes customers from troubled rival Provident

There is something obscurely insulting about being warned about household debt by the Bank of England

Related: Drive carefully – I can see a credit car crash up ahead | Phillip Inman

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