Posted on 06/25/2017 6:11:36 PM PDT by SkyPilot
If the man often hailed as the original "Dr. Doom" is right, the stock market could see another "lurch" higher — at which point investors may want to cash out quickly and run for cover.
Marc Faber, the editor of "The Gloom, Boom & Doom Report' and a perennial bear, isn't backing down from his latest dire prediction that would send stocks plummeting by 40 percent or more.
A drop of that size could take the S&P 500 Index down from Friday's closing price of 2,438 to 1,463.
He used the meteoric rise of FANG stocks, which reflects Facebook, Apple, Netflix and Google (Alphabet), as a glaring bearish signal.
"We've had more than eight years of a bull market. The Nasdaq is being driven by very few stocks," said Faber on Friday's "Trading Nation." That rally "is not a particularly healthy sign from a technical point of view, and valuations are very high," the investor added.
Faber's comments come exactly two weeks after the Nasdaq set its latest intraday record high of 6,341.70.
"You know we have a lot of volatility, and when things will start to go down, they'll go down a lot," he said.
Faber is deeply concerned that wealth has flowed to big corporations and affluent people. He believes the imbalance could eventually disrupt the markets as we know it.
"Either people with money will be taxed heavily ... or we'll have a massive deflation in asset prices — I repeat: massive," he warned. "Eventually the system will break."
Faber is known for correction calls over the years which have never materialized. But he's sticking by his latest call, acknowledging critics have "questioned my sanity."
"We could print enough money that the Dow goes to 100,000. All I'm saying is it will end very badly, extremely badly,"
(Excerpt) Read more at cnbc.com ...
There is a prediction that the Muslims have. The Mahdi, who by the way bears a striking resemblance to the Antichrist, is prophesized (by Muslim clerics) to hand out goodies to the masses. The crowds say: "Give to me Mahdi!"
And he says: "Take!"
Research DRIPs. Did you read that? Go on the web and research DRIPs.
The Globalists/Central Bankers are not Trump fans. They certainly were Barry Hussein Soetoro fans.
The entire 2007 crash was manufactured. I read a detailed account of the forensics of it. The FBI called it "Economic Terrorism" and later backed away from their own account. At one point, a half a Trillion dollars and hour was being "taken out" of the global financial system, deliberately.
I believe that these same vermin will pull the plug when it serves their interests best, and they are primed to destroy President Trump.
I believe that 100%.
Would a major correction also wipe out the precious metal market? or the real estate bubble? Would interest rates go up? or down?
Yellin was too yellow to make the needed changes.
Matt Drudge calls her Mother Yellin, and keeps me updated.
Otherwise, I, who have nothing to invest would never know.
“What’s buried in your backyard?”
But something will light the match.
People who think their 401Ks or IRAs are safe are living in a fantasy world.
If things go south enough, Katy bar the door.
The first ones they will seize will be Federal (TSP accounts). But if the bleeding turns into a hemorrhage, then they will need all accounts to plug the hole.
How long until we hear the Russians are colluding with the Fed to wreck our economy? If this nut job is right let’s start with him. Dude here’s the not so subliminal for you: Shut the “F” up. It’s time for your next douche . . . wad
Who knows?
It is hard to imagine, however, that in a real crash there would be totally safe havens.
Perhaps precious metals, but this from history worries me:
I always thought Obama would do something similar in a heart beat. Hell, he would have even enjoyed it.
Would Trump? Ah...now that's a question. My suspicion is yes, if pushed far enough and he felt he had no other options in an attempt to stop the whole ship from going under the waves.
Sure, the stock market indexes always regain after a crash...eventually...but different companies are selected to be in the indexes all the time. if a company does poorly, it’s ejected from the list. Only the risers stay on the list.
He has predicted 23 of the last 2 recessions.
—
LOL!!
Its a house of cards
Any meaningful decline in the stock market will actually drive quite a few states into bankruptcy. Their public pensions are already underfunded, and it will trigger huge revisions in pension and employments costs.
I don’t know how often I have read these Chicken Little the Sky is falling warnings and prognostications over the last 8 years plus.
While I probably agree a market correction is due or overdue I am just not sure to buy into a 40% Plus crash. But then again who knows.
“BUY GOLD BUY SILVER.”
They say the dollar is sure to crash, so buy gold. With dollars. If it was sure to crash, why sell their gold for doomed dollars? I do have a little, but if it really gets down to that, a full reset, then we will have much worse problems.
FDR had to change the price of USD to gold, and ban public gold holdings - because the world at the time was on a gold standard. FDR conducted outright thievery from the American public.
Now the world is on a 100% fiat, central-bank printed money standard, so for now anyway, its immediate role on the USD and other currencies is greatly reduced.
Sadly, no one sees the connection between gold and limited-government and freedom any longer. A government and central bank that can create unlimited debt in a printed currency with manipulated interest rates can pursue any repression and social-engineering scheme it wants.
Pretty much right. Two years. Stay calm. Be prepared. Tighten the purse strings and expenses when necessary.
It is a cycle. If you cant live with that, stay out.
I’m still waiting for the unavoidable summer crash of 2010.
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