The recent sell-offs seen in the U.S. stock market are, "a pullback in an otherwise bull market, and we don't see the signals the a bear market is coming," says Joel Litman, founder and CIO of Altimetry. "Bad inflation is currency devaluation," he tells our Daniela Cambone. And demand-driven inflation is not great but it's not as deadly as inflation driven by currency devaluation. The theme that China is going to overtake the U.S. within the next five to 10 years is wrong. "The numbers just aren't there," Litman continues. There has been a credit crisis building in China over the last several years, "that's is worse than what the U.S. and Europe experienced in 2008." Video by Stansberry Research.
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