He Called The Bottom in 2008, and Now He’s Calling For Another 10% Crash

24/7 Wall St. Key Points:

• Barry Bannister of Stifel forecasts a potential 10% market correction in 2025, citing worsening consumer and inflation data as key risks.
• Walmart (NYSE: WMT) leadership signals weakening consumer behavior, particularly among middle-income shoppers, suggesting macroeconomic headwinds are building.
• Persistently high inflation and the threat of stagflation could erode earnings and valuations if tariffs and consumer weakness persist.
• If you’re worried about the recent pullback in stocks, it’s time to check with a financial advisor and see if you’re ahead, or behind on your retirement goals. Click here to speak with someone today and see where you stand. Don’t worry, it’s free.

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Transcript:

[00:00:04] Lee Jackson: It’s interesting, a guy that we’ve covered a lot over the years, Barry Banister, who’s the, chief economic guy and chief equity guy at Stifel. Barry’s been right on and we, we have talked about this guy’s calls for years and, he called the bottom after 2008, 2009, a few years later and when it hit 666 on the S&P 500, which seems like a million years ago now that it’s, way up there.

[00:00:34] Lee Jackson: But he thinks there could be another 10% draw down this year. And I think it’s possible as well. So yeah, kind of, kind of pick your spots and be careful, but we could have more coming.

[00:00:45] Doug McIntyre: I think if the tariffs are on for, I don’t know if you saw this today, but the, the consumer numbers were bad. The inflation numbers were bad.

[00:00:53] Doug McIntyre: Yep, yep. No one likes to talk about stagflation, but you’re certainly moving in a bad direction when it comes to the consumer and when it comes to inflation.

[00:01:03] Doug McIntyre: The guy who runs Walmart said yesterday that he could see that there was some trouble brewing with their customers, it was the largest company of the largest retailer in the United States.

[00:01:15] Doug McIntyre: You’ve got well over a million employees. I’m sure that there are hundreds of millions of visits to Walmarts around the country over the course of a year. If anybody has his finger on the pulse. the American consumer, it’s the people at Walmart.

[00:01:32] Lee Jackson: Yeah. And, and higher net worth people had already started shopping there, which kind of boosted them.

[00:01:38] Lee Jackson: But if, if they’re seeing some macro changes in their broad based customer, which is probably middle class, I don’t really think it’s like all lower middle class because Dollar General caters to a lot of that. But yeah, if they’re seeing any fundamental changes in their customer’s habits, oh,

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