Strategist Ian Harnett Sees 'Multiphase Downleg' Ahead for Stocks

The video discusses the current state of global equities, highlighting the attractiveness of equities versus bonds despite only a 10% discount relative to the 10-year average. It emphasizes the need for fiscal policy intervention as monetary policy options are exhausted. The discussion also covers the importance of reaching 2016 market levels to stabilize the US market, noting that even major companies like Boeing have not yet reached these lows.

What levels does the speaker suggest as a starting point for investors?

In what ways does the speaker suggest that the current market situation differs from previous downturns?