“He’s been saying the same thng since 2009—and the market is up 60%. He eventually will be right.”
The difference is that in 2009, the Fed hadn’t been through two rounds of “Qualitative Easing” and starting a third.
When interest rates rise - as they will have to for anyone to finance our debt going forward - you’re going to see people get out of stocks like rats abandoning a sinking ship.
The market is driven by one thing: future earnings. When those tank, the market falls. No future earnings: no market. We’re all just the next quarter’s earnings report away from a crash.
I agree completely. QE is delaying the inevitable and when it happens t will be worse. The market is overbpriced becasue of QE. On the otherhand, I believe we are on the verge of an energy driven renaissance that we have not see since John D. Rockefeller started shipping 60 carloads of kerosene a day on Vanderbilt’s railroad. AMERICA EXPLODED. It can happen again.