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5 Highly Respected Financial Experts That Are Warning That A Market Crash Is Imminent

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If everything is going to be “just fine”, why are so many big names in the financial community warning about an imminent meltdown?  I don’t think that I have seen so many simultaneous warnings about a market crash since just before the great financial crisis of 2008.  And at this point, you would have to be quite blind not to see that stocks are absurdly overvalued and that a correction is going to happen at some point.  And when stocks do start crashing, lots of fingers are going to start pointing at President Trump, but it won’t be his fault.  The Federal Reserve and other central banks are primarily responsible for creating this bubble, and they should definitely get the blame for what is about to happen to global financial markets.

My regular readers are quite familiar with my thoughts on where the market is headed, so today let me share some thoughts from five highly respected financial experts…

#1 When Altair Asset Management’s chief investment officer Philip Parker was asked if a market crash was coming to Australia, he said that he has “never been more certain of anything in my life”.  In fact, he is so sure that the investments that his hedge fund is managing are going to crash that a decision was made to liquidate the fund “and return ‘hundreds of millions’ of dollars to its clients”

While hardly a novel claim – in the past many have warned that Australia’s housing and stock market are massive asset bubbles (which local banks have been forced to deny as their fates are closely intertwined with asset prices even as the RBA is increasingly worried) – so far few if any have gone the distance of putting their money where their mouth was. That changed, when Australian asset manager Altair Asset Management made the extraordinary decision to liquidate its Australian shares funds and return “hundreds of millions” of dollars to its clients according to the Sydney Morning Herald, citing an impending property market “calamity” and the “overvalued and dangerous time in this cycle”.

Giving up management and performance fees and handing back cash from investments managed by us is a seminal decision, however preserving client’s assets is what all fund managers should put before their own interests,” Philip Parker, who serves as Altair’s chairman and chief investment officer, said in a statement on Monday quoted by the SMH.

#2 Seth Klarman leads one of the biggest hedge funds in the United States, and he believes that U.S. investors are greatly underestimating the amount of risk in the market right now…

“When share prices are low, as they were in the fall of 2008 into early 2009, actual risk is usually quite muted while perception of risk is very high,” Klarman wrote. “By contrast, when securities prices are high, as they are today, the perception of risk is muted, but the risks to investors are quite elevated.”

Klarman oversees one of the US’s largest hedge fund firms, with some $30 billion under management. He has a huge following on Wall Street — investors named his book, “Margin of Safety,” their favorite investment book in a recent SumZero survey.

#3 Bill Blain is a strategist at Mint Partners, and he is actually specifically pointing to October 12th as the date when things will start to get “horribly interesting”

But…. Catch a falling knife, why don’t you… I shall spend the summer wondering just how long the Stock Market games continue. When, not if.

At the moment, my prediction is October 12th. Around that day its going to get horribly interesting..

Why that particular day?

Gut feel and knowing how the Bowl of Petunias felt in Hitchhikers. (“Not again.”)

There are just too many contradictory currents out there. The unsustainability of burgeoning consumer debt, unfeasibly tight credit spreads, the sandcastle foundations of student loans, autos, housing and the CLO market, China, Trump, politics.. worries about what follows Brazil in the EM market, and whatever… The risks of a massive consumer sentiment dump..  

#4 David Stockman has also been warning about what may happen this fall.  According to Stockman, this current stock market bubble “is the greatest sucker’s rally we have ever seen”

The market is insanely valued right now.  They were trying to tag, the robo machines and day traders, they were trying to tag 2,400 on the S&P 500.  They ended up at 2,399, I think, but the point is that represents about 25 times trailing earnings for 2016.  We are at a point in the so-called recovery that has already lasted 96 months.  It’s almost the longest one in history.  What the market is saying is we have reached the point of full employment forever.  There will never be another recession or any kind of economic surprise or upset or dislocation.  The market is pricing itself for perfection for all of eternity.  This is crazy. . . . I think the market could easily drop to 1,600 or 1,300.  It could drop by 40% or even more once the fantasy ends. When the government shows its true colors, that it’s headed for a fiscal bloodbath when this crazy notion that there is going to be some Trump fiscal stimulus is put to rest once and for all.  I mean it’s not going to happen.  They can’t pass a tax cut that big without a budget resolution that incorporated $10 trillion or $15 trillion in debt over the next decade.  It’s just not going to pass Congress. . . . I think this is the greatest sucker’s rally we have ever seen.

#5 Last but certainly not least, David Kranzler seems quite certain “that the stock market bubble is getting ready to pop”

Anyone happen to notice that several market commentators have argued that Bitcoin is a bubble but the same stock “experts” look the other way as the U.S. stock market becomes more overvalued by the day vs. the deteriorating underlying fundamentals? Bitcoin going “parabolic” triggers alarm bells but it’s okay if the stock price of Amazon.com Inc (NASDAQ:AMZN) is hurtling toward parity with the price of one ounce of gold. Tesla (NASDAQ:TSLA) burns a billion per year in cash. It sold 76,000 cars last year vs. 10 million worldwide for General Motors (NYSE:GM). Yet Tesla’s market cap is $51.7 billion vs. $48.8 billion for GM.

This insanity is the surest sign that the stock market bubble is getting ready to pop. If you read between the lines of the the comments from certain Wall Street analysts, the only justification for current valuations is “Central Bank liquidity” and “Fed support of asset values.” This is the most dangerous stage of a market top because it draws in retail “mom & pop” investors who can’t stop themselves from missing out on the next “sure thing.” There will be millions of people who are permanently damaged financially when the Fed loses control of this market. Or, as legendary “vulture” investor Asher Edelman stated on CNBC, “I don’t want to be in the market because I don’t know when the plug is going to be pulled.”

Could all of these top experts be wrong?

It’s possible, but I wouldn’t bet on it.

Every stock market bubble of this magnitude in U.S. history has ended in a spectacular crash, and this one will not be any different.  We can certainly have some good arguments about the exact timing of the next crash, but what everyone should be able to agree on is that a crash is coming.

You only make money in the stock market if you get out at the right time.  Many of those that timed things well have made a tremendous amount of money, but most investors will be entirely caught off guard by the market implosion that is rapidly approaching.

As I have explained to my readers repeatedly, markets tend to go down a whole lot faster than they go up, and in the not too distant future we are going to see trillions of dollars of investor wealth wiped out very, very quickly.

Let’s hope that the coming crisis will not be as bad as 2008, but I have a feeling that it is going to be much worse.

We didn’t learn our lessons the last time around, and so now we are going to pay a very high price for our stubbornness.

 
  • aldownunder

    The coming crash will be 60-80%
    Get out now and into CAS, be patient and in maybe a couple of years there will be many bargains to be had

    • JC Teecher

      Wash rinse and repeat about every ten years.

      • aldownunder

        I have a feeling this one will be history making and if the world lasts that long they will be talking about it in hundreds of years time still

        • TOUJOURS DEMAIN

          The world will last because there ALWAYSTOMORROW.

          • JC Teecher

            The world, as in the earth, will last forever, but being ruled and governed by man, will be gone forever, along with the flesh.

    • socalbeachdude

      There is nowhere near enough cash in existence in the US for many to cashier out of the stock markets at all. The aggregate “value” of the stock markets is more than $30 trillion in the USA alone and the aggregate value of the bond markets in the USA is around $45 trillion. The total amount of ALL CASH IN SAVINGS AND CHECKING ACCOUNTS IN THE US IS LESS THAN $14 TRILLION.

      By the way, there is no money in the stock markets at all and all prices are simply set at the margin of the last trade so as prices fall (or plunge) the prior money spent on overpriced stocks SIMPLY VANISHES INTO THIN AIR.

      • aldownunder

        By cash I mean fixed rate accounts
        It is better to preserve what you have with little or nothing in return than to lose 50-60% of paper wealth then when things settle down or bottom out you can gradually re-join the market at big discount prices

        • socalbeachdude

          Cash comes in many different forms, and any form will do as long as it is in US dollars.

  • aldownunder

    What an honest man Altair Asset Management’s chief investment officer Philip Parker is.
    I have never met or heard of any financial broker advising customers to get out of a market or take profits,all they care about are their fees and commissions

    • JC Teecher

      Maybe that is why he is advising such, he makes money every time someone sells….and buys.
      If they sell now he makes money, and then if it drops just somewhat, and doesn’t crash, he can phone them up and say, buy, buy, buy; strike while the iron is hot and the price is climbing. Hype, hype hype.

      • aldownunder

        Maybe
        It is certainly a different angle from a asset managers perspective though and they still collect their commissions regardless of profit/loss

      • Stuey

        While stock brokers do make money when buying and selling individual stocks. For a fund manager this isn’t usually the case, they get paid a percentage of the amount of money they are managing. So while it is possible he made money from the selling out the fund it is doubtful. Btw, stock brokers also receive a commission from the amount of money they have “in house” that is invested in mutual funds but it is the same rather the money is in a stock or bond fund or a money market fund with in the mutual fund. But if someone totally liquidates the mutual fund the broker gets nothing and loses the income for the percentage basis of the total money invested as well.

        • JC Teecher

          Thanks for clarifying that, as i knew it but failed to pick up on that while reading, and then to elaborate on the differences.
          Good work.

    • Stuey

      So true!!

  • JC Teecher

    article states “……. and in the not too distant future we are going to see trillions of dollars of investor wealth wiped out very, very quickly.

    Let’s hope that the coming crisis will not be as bad as 2008, but I have a feeling that it is going to be much worse.”

    I agree on both points. We are way over due because the “hype” that sends and keeps markets this high and over valued for this long, has sent the average investors into a frenzy to get in on the action.
    Basically it is the greed factor at play.

    My dear old greedy brother has missed a golden opportunity. Back about the winter of 2014, we had a discussion about his only holdings in the market of Tyson shares, of which he has buying for 30 +years. he made the statement that as soon as the shares hit $50.00, he was selling half, as he has on average, about $25.00 or less, invested per share. The price in Sept 2014 was gradually climbing and hit about $38.00, and then grew to double that in exactly two years, to over $76.00 per share.
    Little brother did not sell any when the price hit $50.00, he did not sell when it hit $76.00, and when I asked why not; he exclaimed, “oh it is gonna hit $100.00 a share in less than a year, and then I’ll sell and build my dream home.
    Well, as of today it sits at $58 and has been flat for nearly three weeks.

    Greed over commonsense can be a real killer in the end. Many will have this same mindset, because they did not learn anything from the 2007/08/09 crash, and it will cause many to literally worry themselves to death, or worse.

    According to an Oxford study done after the 2008 thru 2010 economic collapse, 10,000 suicides in the USA, Canada, and Europe were attributed directly to the collapse of the markets.
    5000 of those were in the US of A alone.

  • abc

    Liberals will blame Trump and Russia for the crash.

  • Jeri Brace

    I am sure there are not very many people alive anymore that remember going through the Great Depression. we are a new Generation to learn just how reckless & corrupt TPTB Elites really are.

    • socalbeachdude

      The so-called “Great Depression was actually just a VERY MINOR AND SHORT-LIVED BLIP.

      The Great Depression itself was really nothing more than two separate periods of recession the first of which started in August 1929 two months before the stock market crash of 1929 and which lasted only until March 1933. Then there was a recovery which lasted 4 full years with positive growth in GDP until May 1937 when the economy dipped into another very short recession which only lasted until June 1938.

      http://ingrimayne.com/econ/EconomicCatastrophe/GreatDepression.html

      This time around the Grand Global Depression is likely to last considerably longer and actually started in August 2007 and will be with us last least out through the end of 2032. The affects of the GGD are being masked by huge government deficits without which GDP would be decisively negative and by such programs as food stamps which are the modern equivalent of soup kitchens for nearly 50 million Americans.

      The massive slowdown in the US economy began in 1928 as the huge credit bubble blown during the 1920s began to burst. The crash in the real estate markets began in 1926 in Florida and was epic and rolled through most of the country up in to the 1930s. The stock market crash of 1929 was just one of the many events during that time period from 1926 through 1938 caused by the bursting of the 1920s massive credit bubble.

      Herbert Hoover had nothing whatsoever to do with the cause of the so-called Great Depression. The cause was the COLLAPSE OF AN IMMENSE CREDIT AND SPECULATIVE BUBBLE from the 1920s on Wall Street, but yet America blamed Hoover and elected FDR, who lives in infamy as the single worst and most destructive President ever in the history of the United States of America.

      • Stuey

        Minor and short lived? Tell that to the people who suffered through it. It is obvious you are a trust fund child who has never had or face any economic concerns in your life. You are one of the privileged few who sits in your Beverly Hills mansion and tells the peasants “oh it isn’t so bad” and “it is short lived”. As if your opinion on such a matter carries any weight.

        • TOUJOURS DEMAIN

          All opinions should be heard.

          • Stuey

            Yeah, tell that to socaldude who constantly insults and calls people names who disagree with him. The only person i insult is him because he gets back what he puts out.

          • socalbeachdude

            What utter nonsense. Learn to read and comprehend, dude.

        • socalbeachdude

          What that article and I stated are 100% true and correct in regards to that very brief 2 part cyclical economic dip in the 1930s.

  • aldownunder

    A veteran Australian fund manager has taken the drastic decision to give back millions to its clients ahead of concerns the property market is “far too risky”.

    Philip Parker of Altair Asset Management made the decision on the to liquidate his fund’s assets – worth hundreds of millions of dollars – believing the “East coast property bubble” will pop soon.

    Last night he penned an open letter to the market, explaining he cannot in good conscience keep charging clients for management fees when the market is so volatile.

    “The main reason is in my opinion that there are just too many risks at present, and I cannot justify charging our clients fees when there are so many early warning lead indicators of clear and present danger in property and equity markets now,” wrote Parker.

    “The senior members of the Altair investment team… have been warning of the overvalued property and financial markets for at least six months.
    “To me there are specific identifiers that are extremely recognisable that remind me of the late eighties and early nineties housing calamity.”

    Parker is so certain that property investments are due to crash that he advised Altair to return an advisory contract for an Australian financial planning company worth an eye-watering $2 billion.

    He believes there will be an “impending correction” within the property market, and political risks overseas – like Chinese debt and the Trump administration – will all play a role in the downfall of his investments.

    It seems like Altair’s clients have read the writing on the wall too, with Parker saying 95 percent of them chose to cash up thanks to his advice.

    Despite the bold move, Parker says this isn’t his final swansong as a fund manager, but a break at a time when he believes the market is as profitable as it will become.

    “I would like to make clear this is not a winding up of Altair, but a decision to hand back client monies out of equities which I deem to be far too risky at this point,” said Parker.

    “After some time off, and if my thesis is correct and value indeed reappears as it always does after major corrections, I intend to re-enter the markets but perhaps with a broader international investment offering and when I consider there to be real value again.”

  • socalbeachdude

    The best place to watch what all of the global financial markets are doing is:

    http://www.IndexQ.org

    Two of the best performing stock markets this year are GREECE and ARGENTINA whose economies are total catastrophes.

  • socalbeachdude

    According to Goldman, a mere 10 stocks — 10 stocks — account for almost half the S&P’s gains for the year.

    Forty-six percent, to be precise.

    This year’s bull’s-eye stocks are the so-called FAANGs — Facebook, Amazon, Apple, Netflix and Google.

    Rounding out the top 10 are Visa… Philip Morris… Oracle… Home Depot… and Broadcom.

    Most other stocks are zeroes — or worse.

    David Stockman in yesterday’s reckoning:

    “During the last 70 days, the FAANGs have gained $260 billion in value, while the other 495 companies in the S&P 500 have lost an identical amount… Other than the five FAANG stocks, the market has been silently collapsing since March 1.”

    Meanwhile, recent data from Fundstrat Global Advisors reveal that just 40 stocks out of 500 — 8%, that is — account for some 85% of the S&P’s gains this year.

    https://dailyreckoning.com/new-financial-weapons-mass-destruction/

  • socalbeachdude

    NYSE “CIRCUIT BREAKER” RULES WILL HELP CUSHION MARKET PLUNGES

    The NYSE circuit breakers won’t kick in until a 2060 point decline on the Dow (DJIA) 30. It should be noted that effective April 8, 2013, the NYSE Circuit breaker rules were amended:

    Rule 80B

    Effective April 8, 2013, amended Rule 80B will be in effect. Amended Rule 80B replaces:

    • the DJIA with the S&P 500 as the benchmark index for measuring a market decline;

    • the quarterly calendar recalculation of Rule 80B triggers with daily recalculations; and

    • the 10%, 20%, and 30% market decline percentages with 7%, 13%, and 20% market decline percentages.

    http://usequities.nyx.com/markets/nyse-equities/circuit-breakers

  • socalbeachdude

    HEDGE FUND INDUSTRY IN TROUBLE AND COLLAPSING…

    Eton Park to Shut Down as $3 Trillion Hedge Fund Industry Faces Turmoil

    Eric Mindich said disappointing results in 2016 were a factor in his decision to return capital to investors.

    https://www.nytimes.com/2017/03/23/business/dealbook/eton-park-hedge-fund-closes.html?_r=0

  • socalbeachdude

    Remember One Thing – Karl Denninger

    The Fed has never, in its history, managed to actually prevent a market collapse.

    It did not do so in 1929.

    It did not do so in 1987, despite it being evident that the market was going to blow up.

    It did not do so in 2000, despite it being evident that the market was grossly overheated.

    It did not do so in 2008, despite having more than a year worth of warning (the two Bear Stearns hedge funds) and in fact Bernanke testified under oath that “subprime was contained.”

    It will not do so this time either.

    https://market-ticker.org/akcs-www?post=230456

    • Stuey

      So i assume by you posting this that you agree with ole Karl? So you agree the fed can’t prevent any market collapse, do you also believe they can’t prevent any economic downturns? And if they can’t prevent any market collapse, can they actually cause them?

      • socalbeachdude

        What Karl stated is 100% correct. Your bizarre additional assertions are nonsensical speculation by you that has nothing to do with what Karl stated.

        • Stuey

          As usual you don’t address or answer the question, just come with more insults to the questioner. Is this the best you got?

          • socalbeachdude

            Those questions have NO RELEVANCE whatsoever to what Karl clearly stated.

          • Stuey

            Oh ok, so what you really mean is you don’t have an answer thus the question is irrelevant. Typical double talk from you.

  • socalbeachdude

    Blue Skies – John P. Hussman, Ph.D.

    The late Sir John Templeton once said, “Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria.” A week ago, bullish sentiment among investment advisors soared to the highest level in 30 years (Investor’s Intelligence), joined last week by a 16-year high in consumer confidence. When one recognizes that the prior peak in bullish sentiment corresponds to the 1987 market extreme, and the prior peak in consumer confidence corresponds to the 2000 bubble, Sir Templeton’s words take on both relevance and urgency. As I detailed last week, the most historically reliable valuation metrics have advanced within a few percent of their 2000 peaks, while the median valuation of S&P 500 components is now easily at the highest level on record (for charts and other analysis.

    https://www.hussmanfunds.com/wmc/wmc170313.htm

  • laura ann

    So what is the XXXX timeline? I have read and heard about this since the early 80’s. Many experts have said this but no one has a timeline.

    • socalbeachdude

      Market turns cannot be predicted on timelines.

    • Leif Erickson

      Maybe Hal Lindsey can chime in and give us a heads up. He has been warning the masses since 1970.

      • socalbeachdude

        Hal is now a very old man.

  • precarious at best

    can u blame them! deficit spending tracking $150 billion a month and rising fast,while growth tracking it’s usual 0-1% at best,markets ridiculously over valued,even a 10% drop in the market would force dozens of cities and states into bankruptcy,the only thing that’s fat and happy is….you guessed it GOV”T,what a shocker

  • PocoPete

    Gold?

    • aldownunder

      Gold = Money

      • socalbeachdude

        Gold has nothing at all to do with money other than it costs way too much money but that has been improving over the past nearly 6 years as gold has plummeted around $700 per ounce.

        • aldownunder

          Gold is the original money and will prevail long after fiat currencies have died

          • socalbeachdude

            Laughably false. Many other things were used for money other than gold, and in fact it was RARELY USED for money at any time. Typically bronze and silver were used as metals to coin money and all sorts of other thingies were used including beaver pelts, glass beads (24 bought what is now NYC), sea shells, feathers, et al.

          • PocoPete

            Gold has been used as money for 5,000 years and will be used that way into the distant future.

          • Stuey

            Yep, exactly. It is used as a medium of exchange. While dopeheaddude admits many other things are used as a medium of exchange he insists gold is not. As usual, he is way off.

          • socalbeachdude

            A lot of crazy things were done hundreds of years ago, but that certainly is not the case today with commodity metals such as gold which are NOT ACCEPTED as money anywhere in the world today for a floating value based on the spot price of gold. Get up to speed. This is the year 2017 AD.

          • Stuey

            Same response that i put in two other places already. Get it now?

          • socalbeachdude

            Obviously, it you who has ZERO COMPREHENSION as to the modern monetary systems that power our $72 trillion global economy as you yearn to live back in the stone age of buggy whips and bartering and other totally obsolete and laughable nonsense.

          • Stuey

            Oh, so now you know what i yearn to live my life for. I guess among all your many talents, knowledge and wonderful skills you are a psychologist too. I know you want your almighty federal reserve notes to remain the medium of exchange since you have plenty of them from your trust fund and if and when they lose their value you will in big trouble and when the peasants from Los Angeles come with their many weapons and your police have quit because your federal reserve notes mean nothing to them we will then see how smart, tough and knowledgeable you really are.

          • socalbeachdude

            Gold is NOT ACCEPTED AS MONEY anywhere in the world today.

          • PocoPete

            A bill signed into Arizona law by Governor Doug Ducey will make gold and silver “legal tender” starting Aug. 9, 2017.

            The movement to provide a sound money alternative has been led by states such as Utah and Texas. Both of these states have not only accepted gold and silver as legal tender but have gone so far as to create bullion depositories to secure both the private and public precious metals within their respective borders. In this way they are assured the Fed will not be able to confiscate their wealth in times of economic stress or dollar tension.

          • socalbeachdude

            What utter stupidity. If the dolts who got that passed “think” that junk is so valuable then WHY WOULD THEY WANT TO SPEND IT TO PAY FOR TAX DEBTS that they owe the government?!!!

          • PocoPete

            If a person does not pay his taxes he can be imprisoned in jail. Gold can be spent for many things since it is real money.

            When China and other central banks discontinue suppressing the value of gold it will be priced correctly.

          • socalbeachdude

            GOLD IS NOT “MONEY” AT ALL anywhere in the world. The only REAL MONEY IN THE US IS US DOLLARS.

            Gold is just a little tiny fungible niche metallic commodity and NOTHING ELSE.

            The government and central banks have nothing to do with the price of gold which is A PREPOSTEROUSLY OVERPRICED COMMODITY that has already plunged 35% over the past nearly 6 years and is headed towards and to its mean of $456 per ounce and then significantly lower.

            An array of reasonable historical metrics can be used to establish the proper price of gold, including:

            1) Its historical mean which would put gold right around $456 per ounce

            2) Its 16:1 historical ratio against silver which would put gold right around $276.48 per ounce based on silver being around $16.60 per ounce

            3) Its inflation adjusted price today from its last stable historical price of $35 per ounce in 1971 which would put gold right around $386 per ounce.

            4) Its current official US government price of $42.22 per ounce which is how the approximately 8200 metric tonnes of US government gold are valued:

            http://www.fiscal.treasury.gov/fsreports/rpt/goldRpt/current_report.htm

          • PocoPete

            Last Friday you predicted a silver price of $87 per ounce. At that price, the 16:1 silver to gold ratio would put gold around $1392 per ounce.

          • socalbeachdude

            Where do you come up with such totally false and bizarre nonsense? The only thing I said about silver was that it has CRASHED 70% since its manic speculative high of $50 per ounce on September 5, 2011 and would be reverting to its MEAN OF $8 PER OUNCE and then headed lower. At a 16:1 ratio of the gold price to silver that would put gold right around $128 per ounce although I don’t think gold will go much below around $232 per ounce.

          • PocoPete

            It appears that your original post has been edited since I first read it. Luckily I saved the email asking me if I wanted to reply. This is the original sentence I read on May 26 at 4:44 PM.

            “There is a MASSIVE OVERSUPPLY OF SILVER which is why the price of silver is in the $16 to $17 range these days and is
            headed to below its mean of $87 per ounce.”
            Did you edit your original posting to change the “$87” to a different number?
            That might explain the discrepancy.

          • socalbeachdude

            It was totally obvious that was a TYPO in that post and was nearly immediately corrected by me. The 7 and 8 keys are right next to each other and striking them in the middle when typing about 100 wpm sometimes results in such errors which is why the edit key takes exists to take care of that. It should have even VERY CLEAR that was a TYPO from the context of my comment.

          • PocoPete

            Well that explains the discrepancy between your posts. Perhaps you should type a little slower.

          • goldismoney

            You sure do love those floating values huh? Speculative investor much? Biased opinion maybe?

          • socalbeachdude

            Huh?

          • Marc

            What? Gold has been one of the most common metals used for money throughout history. From the Egyptians and Mesopotamians through to Asia, Europe and so on. There is so much historical and archaeological proof of this. Your statement about it being rarely used is false.

          • Beanodle

            Kings built castles to keep the gold in. He coerced knights and noblemen with the promise of gold to keep the castle safe.
            Business was done with sliver copper and barter.

          • Stuey

            You can’t talk sense to this guy. He freely admits that feathers can be used as a medium of exchange but says gold is not.

          • socalbeachdude

            That was have been done HUNDREDS OF YEARS AGO, but this is now 2017 and certainly is not done today with feathers or with gold which is not accepted anywhere in the world as a medium of exchange for a floating valuation, although you can use a 1 oz. gold American Eagle which is legal US tender for its STATE FACE VALUE OF $50 anywhere US dollars are accepted.

          • Stuey

            You miss the whole point, which isn’t surprising. So let me type it real slow so maybe you can comprehend. ANYTHING can be a medium of exchange which you yourself admitted. Get it now?

          • socalbeachdude

            I don’t miss any point at all, but you certainly DO MISS THE BIG PICTURE BY MILES AND MILES AND MILES. Gold is of ABSOLUTELY ZERO FINANCIAL RELEVANCE TODAY and will NEVER be of any financial relevance in the future.

          • aldownunder

            Spoken like the true Fed employee that he is

          • socalbeachdude

            Laughably false.

          • aldownunder

            Come on Socal
            I’m on to you now
            At least you have stable employement

          • socalbeachdude

            Huh?

          • socalbeachdude

            OK, but that was many, many hundreds of years ago. This is now 2017. Get it now?

          • Stuey

            So you are admitting many things can be used as “medium of exchange”. I said this very thing few months back and you said i was crazy. Can you make up your mind or do you just forget all the BS you spew?

          • socalbeachdude

            The operative word, of course, is WERE. Not now. Not in the future. Get it now?

          • Stuey

            If they were, then they can be again. Do you get it now?

          • socalbeachdude

            I suppose you also think that BUGGY WHIPS will be making a big comeback soon!

          • TOUJOURS DEMAIN

            I prefer frankincense and myrrh.

    • socalbeachdude

      Gold will PLUMMET right along with all other commodities and stocks and it is already down 35% over the past nearly 6 years from its manic high.

  • TOUJOURS DEMAIN

    Hmmm….. October 12th…..collapse……okay. I’ve got that penciled in.

    I’m glad we moved our Tennessee vacation up to late May-early June this year.

    I think I will take Mrs. ALWAYSTOMORROW out for a piece of pie.

    Happy Memorial Day

    • aldownunder

      May as well get a countdown going

      • TOUJOURS DEMAIN

        There’s ALWAYSTOMORROW. .

  • NBA

    GOLDEN STATE WARRIORS ARE GOING TO WIN THE NBA CHAMPIONSHIP. WOOOOOOOOOOOOOOOOOOOOOOOO!!!!!!! HOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!!!!!!

    • Centrist

      Go Cavs!

      • NBA

        Golden State Warriors Win Game 1!!!! Wooooooooooooooo!!! Hoooooooooooooo!!!!

      • NBA

        GOLDEN STATE WARRIORS WIN GAME 2!!! BAHAHAHAHAHAHAHAHAHAHA!!!!!

  • Marc

    Commentary nazis

  • Marc

    I take notifications like this with a pinch of salt. There have been far too many of these that have turned out to be false alarms.

    • TOUJOURS DEMAIN

      There’s ALWAYSTOMORROW.

  • hvaiallverden

    In an sense its not only the stocks, over rated, but everything is over rated.
    When everything is going down, and I mean everything, from salary’s where full time jobs is an thing of the past and others sees this as an salvation of their revenues, well, hump it with rising everything, except the interest witch is then fueling an sub-prime in so many aspects of our future, incl student debt, hehe, whats left.
    oh…… the stocks are sky rocketing, and then everything is ok.

    Its simple math, where I live, the sale of houses are screeched to an halt.
    Over riced aka marked fueled houses built so bad, and on top of it with cheapest possible material, done by people whom dont give an f…. and rots within 2 years, but some are valued to millions of krona’s, total bonkers, and all that to the “marked”.

    I am thankful for not buying an, or even worse, build an new one, you have no idea, because new houses are an scam, crap thru out and inward, jesus and the wood material made by fast growing Trees, and many dont believe this but the trees you see in southern Norway is German, crappy building material, period.

    Hehe, we are invaded by the Germs.

    And so far, Trump haven’t done anything, in fact, just kicked the proverbial can further down the road, and some of the issues are vital to average joeys world, and to an rich man, this is like debating bread prices with an millionaire, aka pissing against the wind.
    Thats where we are right now, an parallel reality where the one benefiting dont bother to reflect to other side, apart from the obvious whining about well fare queens, and presto, our problems are gone.
    I agree, but its an ridiculous diversion of issues, and on top of it, the soc. sec, was running on surplus before the Reaganomics ruined your land.
    aka Crony capitalism.
    You are right now, starring into the barrel on an cannon, the new dawn of crony capitalism, you are, I think 2 decades behind some European lands, where legalized plundering is the new hit, camouflaged by/thru political scams as the Green one, aka AGW etc, etc, etc.
    Inflation, well, when Road tax stations will pop up like mushrooms you will know it, and so on.

    I cant see anything right now, doing something about it, so to then talk about time is something, but the fundamental is corroding, and slowly it will eat it self up to an point where it simply collapses by it self, and to predict that is not that relevant, when the system is largely untouched and not dealt with and is for the time begin, simply ignored.
    Pity, when Trump before presidency, was spot on, now, well, to me its ankle grabbing, and its ugly to behold.
    What an disappointment.
    And He did it all by him self, no fake news or any other “excuse”.

    peace

    • SnodtBlossom

      I sense another Mid Westerner

  • BS1986

    Invest in Guns and Ammo.

    • TOUJOURS DEMAIN

      There’s ALWAYSTOMORROW!

      • JC Teecher

        Yea, you got that right, so I’ll go have some of my homemade mouthwatering spaghetti and a couple, fresh out of the fryers Krispy Kreme Doughnuts from our trip to the city a few hours ago.

        • TOUJOURS DEMAIN

          For this week I am one state to your West. Please bring over some of that spaghetti.

          • JC Teecher

            I hear ya. Not that I would not share with you and the family, but you may be vacating on the west side of the Volunteer state. Nashville, Memphis (barbecue)?
            Now, If we were doing the, visit the relatives, and trout fishing in Cherokee, and you were in …say Dollywood, then it would be feasible since we are at the Great Smokies entrance to the Park sometimes, out of Cherokee.
            In fact, my Great grandpappy X 3 actually used to own 300 acres in that area back in the mid 1800’s, and passed it down to my great grandpappy and his half brother.
            Great uncle lived there until the
            gov forced him to accept $1.00 per acre for his land for a section of the Park. I don’t know the exact location of that land, because great grandpappy never laid eyes on it, just his share of the money….$150.00.

      • BS1986

        Not for everyone.

    • socalbeachdude

      For what?

      • BS1986

        Shooting liberals of course.
        Defending your food stash. Cause your kid is going to get hungry-look at Venezuela.
        Fighting Thugs(falls into the liberals category)
        Shooting ANTIFA, BLM, CPOA members(WHOOPS liberals again)

    • Richard O. Mann

      And food. Can’t eat guns nor ammo. But, you will need them.

      • BS1986

        True.

    • walcon

      Beans, beer, guns and the bible. lol.

      • BS1986

        Dynamite

    • PocoPete

      Does anyone have a recipe for Soylent Green?

      • BS1986

        Dynamite.

  • Cal

    Call on then name of the Lord to save you., then repent. Last chance.

    • Ricardo

      Have you converted ? Not long ago you didn’t believe in God.

      • Carl

        That’s Cal, Ricardo. Not Carl, who is me. Satan saves.

        Riddle me this Ricardo: How many people/animals did god murder in the bible and how many did satan murder?

      • JC Teecher

        Well, Ricardo; he sure was talking like a Christian believing in God about a year ago.

        I think you may have Cal confused with Carl.

        • Ricardo

          Ok yes If there is a Cal then I might have confused him with Carl but if Carl was the one who converted than I can only say a big AMEN to Carl.

          • JC Teecher

            That would be a big AMEN.

    • TOUJOURS DEMAIN

      There’s ALWAYSTOMORROW!

    • Carl

      How many people has god murdered and how many has satan murdered in your bible?

      • Jerry-Jeff

        oh precious….stop pouting; it’ll give you worry lines on your pretty face!

    • SnodtBlossom

      there is no god

  • Rick

    You know that you cannot compare what’s happening now to what happened 9 years ago. The rules and the game have change too dramatically. That would be like comparing the NFL Champions from 1962 with the New England Patriots of today and saying both teams are the same. Well that just wouldn’t be true. And this comarison isn’t either. The elite did learn their lesson well from the previous decade, and has implemented programs like QE, statistical manipulations of the economy, of unemployment, of oil prices, of derivatives, of everything you and I can think of, or can be held accountable (unjustified of course) for paying for. Some may have existed previously, but they have built in new safeguards for themselves. How many went to prison last time?

    • JC Teecher

      Good points, as they, the elite that pretty much control what and when the market does what it does, with the see sawing up and down. Just like a couple weeks ago, when Ben shalome Bernanke made his big speeches, and immediately, not two or three days later, the movers and shakers of Wall Street reacted accordingly, and guess who made all the profits of the big swing down, and then back up a few days later, after his reversal speech?
      It wasn’t Mom and Pop on their 401k’s , because they ended up, after the dust settled, exactly right back where they had started a week or so earlier.

      The next correction, then bear market, and then the crash, all in succession, will kill pensions/ 401k’s, and if it gets bad enough, and the banks start folding like waves crashing on the beach, then the “bail ins” will begin, and depositors will feel the pain. Some will feel it twice because they are heavily invested in the markets and the banks. What causes the first domino to fall, and whether it comes from the banking industry, or the world markets, or both simultaneously, is anybody’s guess.

      Will there be a rebound? Yes, somewhat, but; it will not be like the kind of quick rebound like the mid ’09 rebound. The bottom of that crash was on March 9th, 2009. By the end of Dec. 2010 the market was already back up to May/June 08 levels, only about 2000 points below the previous all time high.

      Like you say Rick, “the rules and the game have changed dramatically”.

    • socalbeachdude

      The Federal Reserve versions of QE were a CLOSED LOOP OPERATION with all of the proceeds always remaining inside the Federal Reserve and had nothing whatsoever to do with the stock markets, not to mention that the Federal Reserve QE programs totally ended on October 31, 2014 which is nearly 3 years ago.

      • Rick

        Good point Fedbot. Sounds about right, our government uses the Fed to put taxpayers on the hook for another 3-4 Trillion dollars, yet the fed which is printing e-dollars out of thin air gets to keep the proceeds… Doesn’t that sound like stealing from the poor and middle class Americans?

        • socalbeachdude

          Where do you come up with the totally false and utterly bogus notion that “taxpayers are on the hook for another 3-4 Trillion dollars?”

          Are you not aware that the entire QE funds from the Federal Reserve were not spent at all, but rather used to purchase offsetting assets of EXISTING US Treasuries and MBS instruments and there was NO COST INVOLVED AT ALL.

          Moreover, are you not aware that the Federal Reserve REBATES 94% OF ITS PROFITS EACH YEAR (as it has always done) to the US Treasury which now amounts to around $100 billion a year in revenues for the US Treasury?

  • Leif Erickson

    Four years ago the Dow broke the 15000 mark and everyone in finance was amazed. The Dow is now over 21000. Even if it crashes 30%, it will correct to the original mark of 15000. Now if it crashes to 12000 or even lower, look for a buying frenzy shortly thereafter and it will rise to the 15000 mark, or even higher, in a year or so.

    • socalbeachdude

      The Dow (DJIA 30) is only comprised of 30 stocks, all of which have vastly excessive PE multiples. There are nearly 7,000 publicly traded stocks in the US markets.

  • DJohn1

    I have never gambled on the stock market and I am probably a lot less wealthy because of it.
    Helen Hunt would be my hero. She only invested in things she personally used and enjoyed. She started with 5,000 in the great depression and through investment council lost half of it in short order. That was when she made her own council using the above method.
    She died with 27 million dollars.
    The money went to sponsoring young women’s college efforts. Not sure of the details.
    WE are in a crazy time economy and the rules currently might not let Helen Hunt’s method work today.
    But if I buy a certain brand of computer, I should invest in that company.
    If I do all my shopping at a certain retail outlet it makes sense to buy stock in that company.
    If I like a certain brand of car . . . well that might be where it breaks down as recall after recall is issued from the Federal Agency involved.
    China is working on a hybrid Diesel car with about a 600 mile range. Will they sell it here? Probably not. The government won’t let them.
    Yet a modified diesel using propane gas as a fuel might not pollute anywhere near what an American GM car might.
    It might last 300,000 miles with little maintenance.
    It might get 100 miles per gallon or more.
    Putting what is left of our car industry out of business? Now that might cause a depression.

    • socalbeachdude

      It only makes sense to buy stock in Amazon (if that is what you are talking about) IF IT HAS A REASONABLE PE MULTIPLE, which in the case it most certainly does not.

  • Carl

    Reason 9,461 why Donald J. Trump is a moron:

    The U.S. Senate should switch to 51 votes, immediately, and get Healthcare and TAX CUTS approved, fast and easy. Dems would do it, no doubt! — Donald J. Trump

    No Donny government doesn’t work like business. It is NOT the 51% majority that gets to do whatever they want.

    Here’s the reason why orange julius: it is 60 votes and not a 51% majority so that either party controlling the Senate would not just be able to ramrod through their legislation on party lines. Same with the elections and the electoral college.

    In the words of Chad Kaplan from the movie Resident Evil.

    “You’re going to have to work for your meal.”

    “I loved my previous life. I had so many things going,” Trump told Reuters in an interview. “This is more work than in my previous life. I thought it would be easier.” April 29, 2017

    Yes Donny it is a lot of work. Hard work.

    • Jerry-Jeff

      oh sweetness…a little butt-hurt are we?

  • socalbeachdude
  • socalbeachdude

    Actual unemployment in the US is somewhere between 23% and 32% as fully measured. Nearly 110 million of the 324 million Americans HAVE NO JOB at all.

  • socalbeachdude

    More utter nonsense from the dolts at ZeroBrains.

  • socalbeachdude

    The French did no such thing at all.

  • socalbeachdude

    There is a whole lot still not known about the murder of Seth Rich and those particular DNC/Podesta emails have nothing specifically to do with Seth Rich at all.

  • socalbeachdude
  • socalbeachdude
  • socalbeachdude

    Amazon’s share price tops $1,000 for the first time – making a $1k investment when the company launched in 1997 worth almost $500,000 now

    Amazon reached another incredible milestone on Tuesday morning, when its share price on the New York Stock Exchange surged above $1,000 for the first time.

    http://www.dailymail.co.uk/news/article-4555888/Amazon-s-share-price-tops-1-000-time.html

    • HE WILL NOT DIVIDE US

      Love it.

  • Dan Wingert

    The speculators will just bid stock prices back up again.

  • Richard O. Mann

    I read somewhere, maybe here, just a few days ago, that by time the stock markets begin to crash, it already be too late. Various other parts of the economy will belly up before the stock markets finally hit the wall and go into a crash and burn tail spin. I read so much, I tend to forget where I saw what. Oh well. It is the end of the world as we know it, and I’m looking forward to the next one.

  • Maple Curtain

    “We didn’t learn our lessons the last time around, and so now we are going to pay a very high price for our stubbornness.”

    “We” did, i.e. the prudent amongst us, but we are not the majority and we are not (((they))) who hold the levers of power.

    Go long pitchforks and lampposts…

    • socalbeachdude

      Hooliganism such as you suggest will not be tolerated.

  • Sam Iam

    5 Highly Respected Financial Experts Warn of Market Crash? They’ve been wrong for the last 8-years. It’s because of these shoddy predictors, the stock market will continue to go up. All new record highs last week in the S&P 500 and NASDAQ. Only one man has been right so far on this bull market run to new heights, Martin Armstrong. One man versus thousands of financial experts and analysts; and, the one man has been right.

    • socalbeachdude

      Many of the 7,000 or so US stocks have ALREADY BEEN CRASHING FOR THE PAST 4 YEARS SINCE 2013. The mo9st publicized market indices (DJIA 30, NASDAQ, and S&P 500) are only comprised of 630 stocks, a number of which are duplicated on the 3 indices and they certainly are NOT THE MARKET AT ALL in the big picture.

  • walcon

    I have bookmarks to articles just like this one dated just about every year for the last 12 years.
    Keep repeating it and it must come true one year, then you can say; “See, I told you”!

  • socalbeachdude

    CHINA: The Greatest Financial Bubble in History

    China is in the greatest financial bubble in history. Yet, calling China a bubble does not do justice to the situation. This story has been touched on periodically over the last year.

    China has multiple bubbles, and they’re all getting ready to burst. If you make the right moves now, you could be well positioned even as Chinese credit and currency crash and burn.

    The first and most obvious bubble is credit. The combined Chinese government and corporate debt-to-equity ratio is over 300-to-1 after hidden liabilities, such as provincial guarantees and shadow banking system liabilities, are taken into account.

    n short, Chinese growth is in severe jeopardy. Its manufacturing base is being taken over by competitors and its high-tech future has yet to emerge, and may never emerge in time to avert a debt crisis.

    The Chinese Miracle is no miracle at all, it’s just simple development economics. China is now out of time and out of good options.

    https://dailyreckoning.com/greatest-financial-bubble-history/

  • socalbeachdude

    How debt-asset bubbles implode – Charles Hugh Smith

    http://charleshughsmith.blogspot.com/2017/05/how-debt-asset-bubbles-implode.html

  • socalbeachdude

    False.

  • J.j. Cintia

    I’m not sure The Stock Market can crash anymore. They have shutdowns after about ten percent magically disappears, and any stocks that zero out simply get removed from the Dow. Like how Lehman went belly up and took a dozen blue chips down during the Housing Collapse, and they all magically got removed from the Dow.
    You can say that’s crooked, but that seems to imply some kind of ethics or law is involved and of course its not. The Dow Jones is a Private Corporation and free to remove any and all dead weight and replace it with as many fake stocks like Zuckerberg’s Famous Social Media Pig as they want. I’m sure Rupert Murdoch’s Wall Street Journal will pooh pooh any small loss of 50-60% in the Dow. After all, its not like earnings or assets are relevant anymore right?

    • socalbeachdude

      What utter nonsense.

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