'There is no natural limit to the stupidity of Wall Street': A notorious market bear breaks down why we're not witnessing a recovery — and warns that extreme valuations suggest a 66% drop

· John Hussman — the outspoken investor and former professor who's long been skeptical of stocks — says that the economy isn't recovering in a traditional sense. It's the government that's propping things up.
· Due to an improvement in market internals, Hussman is "agnostic" in his market view.
· However, he notes that...