Investing

Does Robert Shiller See ‘Froth’ In U.S. Housing And Stocks?

I first blogged about Robert Shiller, the Yale professor credited with correctly-calling the “dot-com” and housing busts, on Survival And Prosperity way back on December 29, 2010. I wrote:

Back when the housing bubble was fully-inflated, I happened to catch a CNBC special on housing in which Robert Shiller, an economics professor at Yale University and co-creator of the S&P/Case-Shiller Home Price Indices, appeared with a number of individuals tied to the housing industry. When it was Professor Shiller’s turn to speak, he warned that there was a bubble in residential real estate.

The other panel members subsequently ripped Shiller a new one.

Subsequently, those panelists were made to look like major asses as the bubble turned into a bust, while Dr. Shiller was vindicated.

So what does Shiller think of the recent run-ups in U.S. stock and housing prices?

You make the call.

From a piece he penned and which appeared on The Guardian (UK) website Tuesday:

We have had only three salient global crises in the last century: 1929-33, 1980-82, and 2007-9. These events appear to be more than just larger versions of the more frequent small fluctuations that we often see, and that Stock and Watson analysed. But, with only three observations, it is hard to understand these events.

All seemed to have something to do with speculative price movements that surprised most observers and were never really explained, even years after the fact. They also had something to do with government policymakers’ mistakes. For example, the 1980-82 crisis was triggered by an oil price spike caused by the Iran-Iraq war. But all of them were related to asset-price bubbles that burst, leading to financial collapse.

Those who warn of grave dangers if speculative price increases are allowed to continue unimpeded are right to do so, even if they cannot prove that there is any cause for concern. The warnings might help prevent the booms that we are now seeing from continuing much longer and becoming more dangerous

(Editor’s note: Bold added for emphasis)

Personally, I think Robert Shiller may see the current housing and stock market booms as being “frothy.” Consider what I noted back on December 1, 2013- the last time I really brought him up on this blog:

These days, Dr. Shiller is worried about U.S. stocks once more. Madeline Chambers reported on Reuters.com this morning:

An American who won this year’s Nobel Prize for economics believes sharp rises in equity and property prices could lead to a dangerous financial bubble and may end badly, he told a German magazine.

Robert Shiller, who won the esteemed award with two other Americans for research into market prices and asset bubbles, pinpointed the U.S. stock market and Brazilian property market as areas of concern.

“I am not yet sounding the alarm. But in many countries stock exchanges are at a high level and prices have risen sharply in some property markets,” Shiller told Sunday’s Der Spiegel magazine. “That could end badly,” he said.

I am most worried about the boom in the U.S. stock market. Also because our economy is still weak and vulnerable,” he said, describing the financial and technology sectors as overvalued.

(Editor’s note: Bold added for emphasis)

And now, several months later, as I keep reading/hearing the term “new all-time record” in the financial mainstream media outlets?

Yep. I’d venture to guess he’d say frothy- at the very least.

You can read his entire piece on The Guardian website here.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein.)

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Peter Schiff On Gold: ‘We’re Going To Have A Big Rally Probably Beginning Here In The Second Half Of 2014’

It’s been a little over a month since I last blogged about “crash prophet” and head of Euro Pacific Capital Peter Schiff. But tonight, I’ll be talking about the first-ever installment of Peter Schiff’s Gold Videocast (which replaces the monthly Peter Schiff’s Gold Newsletter). Schiff, who also heads up Euro Pacific Precious Metals, told videocast viewers on July 9:

I think that the sellers have been exhausted in the gold market, and the buying continues. And when we run out of sellers- again, there’s only one direction for the price of gold. And I think once all of these speculators that have been shorting gold discover that their premise is wrong- that we’re not going to get this vibrant recovery. And that we’re not going to get less QE, we’re going to get more. That we’re not going to get rate hikes, but the Fed is going to keep interest rates at zero in order to prop up this phony, bubble economy that they’ve inflated. You’re going to have to see this mad rush from all the short sellers who are going to be anxious to buy back their money losing positions. But that’s going to be a lot more difficult, because there’s not going to be a lot of gold around. Because a lot of the gold that was liquidated in the second half of 2013 is not going to be available for sale in the second half of 2014. That gold was probably purchased by entities that never intend to sell it.

So I think we’re going to have a real short squeeze and we’re going to have a big rally probably beginning here in the second half of 2014. But maybe gathering momentum as the year comes to a close.

Schiff, who is credited for calling the U.S. housing bust and 2008 economic crisis, added:

I expect the price of silver to rise. Other precious metals- platinum- and commodities in general are all responding to the inflation that the Fed is creating to prop up this phony economy. All the while denying that inflation is a problem.


“Gold Videocast: Gold’s 2014 Half-Time Report”
YouTube Video

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein.)

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Jim Rogers: Some Currencies, Real Assets Could Shine When Coming Bust Arrives

Enough about Chicago already. Let’s talk money.

Last time I blogged about well-known investor, author, and financial commentator Jim Rogers, he shared this warning regarding the ocean of liquidity that’s been created by unprecedented money printing via the world’s central banks:

When it ends, we will all pay a terrible price.

That was the end of May. And now?

Disturbingly, he’s singing the same tune.

Elena Torrijos reported on the Yahoo! Finance Singapore website yesterday:

He doesn’t know when the party is going to end, but he believes when it does, “we’re all going to suffer very, very badly”. He said the US would also fare worse than it has in previous economic setbacks because the country’s debt is now so much higher than before.

“So the next one [economic bust] is going to be much worse… so be worried, be careful and be prepared,” he warned.

Everybody should have a game plan, he said. “Learn how to cut back if you need to, even learn how to sell short. Short sellers are going to earn a lot of money the next time around,” he pointed out.

(Editor’s note: Bold added for emphasis)

The Singapore-based Rogers suggested certain currencies could initially offer refuge when the “bust” arrives. Torrijos added:

He believes some currencies are going to do well in that time of turmoil. “The Chinese renminbi, for instance, will probably continue to do extremely well over the next few years. I even own the US dollar at the moment. The US dollar is a terribly, terribly flawed currency, but at the moment I own it because when the turmoil comes many people will flee to what they see as a safe haven,” he said.

When invariably central banks start printing money to pump prime their economies, he’s not sure which currency he’d flee to. “Maybe the renminbi, maybe gold, probably real assets, because once the floodgates open even more, the value of paper money everywhere is going to go down a great deal,” he said.

(Editor’s note: Bold added for emphasis)

What about commodities- something with which the former investing partner of George Soros is so closely identified with? Back on December 3, 2013, Rogers appeared on The Lang and O’Leary Exchange, a Canadian business news television series which airs weekdays on CBC Television and CBC News Network. He told host Amanda Lang:

This is going to end badly. We’re all floating around on a sea of artificial liquidity right now Amanda. This is not going to last. No, no. And when it ends, the bull market in commodities will probably end too. But, the bull market in a lot of stuff will end.

(Editor’s note: Bold added for emphasis)

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein.)

Source:

Torrijos, Elena. “Jim Rogers reveals his Singapore investment strategy.” Yahoo! Finance Singapore. 14 July 2014. (https://sg.finance.yahoo.com/news/jim-rogers-reveals-his-singapore-investment-strategy-153319907.html). 15 July 2015.

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Resource Of The Week: Gold & Silver Vault App By GoldSilver.com

I meant to end last week on a high note- with a “Resource Of The Week” post- but was just too spent being sick and all. I’ve recovered. And before I start getting on a roll with this week’s blog material, I wanted to get that ROTW out to readers.

Now, as I’ve mentioned before on Survival And Prosperity, I’ve been a keen observer of gold and silver for some years now. And people who’ve been following the price action of these precious metals lately will tell you these are very interesting times (gold dropped to a 16-week low, silver to an 11-month low, last week).

Particularly if you hold either of the two as an investment/trading vehicle.

With all that’s been going on lately, more people might desire to keep a close eye on the latest gold and silver news and prices. Perhaps even keep track of the value of their holdings.

Enter the Gold & Silver Vault App by affiliate marketing partner GoldSilver.com. The Santa Monica, California-based gold and silver educator and dealer (reviewed here) now offers a free “app” for the Apple iPhone and Android which lets users track their gold and silver investment value 24/7:


“Gold & Silver Vault Phone App TVC V2”
YouTube Video

Looks very useful and informative. Too bad I don’t own a smartphone (maybe one of these days). But readers might.

Check out the Gold & Silver Vault App on GoldSilver.com via the banner ad below. The app can be found on the “Goldsilver” tab, in the “Knowledge Center” drop-down menu near the top of the page. Please note that by clicking on the ad and purchasing a product from GoldSilver.com, I receive a commission from the sale.


GoldSilver.com - Buy Gold & Silver

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: Link added to SP “Resources” page)

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Jim Rogers: ‘We’re All Going To Pay A Terrible Price’ When ‘Artificial Ocean Of Liquidity’ Ends

Tonight, I want to talk about well-known investor, author, and financial commentator Jim Rogers. The former investing partner of George Soros- who I recently heard is worth approximately $300 million (Soros $23 billion)- recently shared his thoughts about the global financial system and potential investment opportunities.

On May 27, Nina Xiang of the China Money Network contributed the following on the Forbes website:

Legendary investor Jim Rogers has been warning about “the ocean of artificial liquidity” as a result of the unprecedented money printing by central banks around the world for quite some time now.

But with the U.S. stock market at an all-time high, his cautionary words seem to have hardly been heeded…

“When it ends, we will all pay a terrible price,” says Rogers…

Read it as an advocacy for an alternative attitude that is unpopular at the moment: the attitude of awareness that we are in this “artificial period” and it will end one day; the attitude of fearfulness that there will be more turmoil in the next ten years; the attitude of preparedness, that includes stocking up some extra food, a spare flashlight, and gold coins — instead of gold bars — for when the time of emergency comes…

(Editor’s note: Bold added for emphasis)


“Jim Rogers: We Will All Pay A Terrible Price For Today’s Artificial Liquidity”
YouTube Video

Note that in the Chinese Money Podcast that was uploaded onto YouTube the same day as that Forbes piece, Xiang and Rogers talked about regional conflicts and the Singapore-based investor predicted:

I would suspect that sometime in the next ten years, the world’s going to have a bigger conflict.

On May 26, the text of another interview with Jim Rogers was published on the website of The Economic Times (India). Rogers, who correctly predicted the commodities rally that started in 1999, talked about the following investment opportunities:

• Gold and silver- “If it goes down, I assure you I will be buying more gold and more silver.”
• Crude oil- “Remember, all the other known reserves in the world are in decline, even if the supply from the US is rising. Everywhere else, there has been declining reserves, because there have been no great oilfield discoveries in over 40 years.”
• Sugar- “I am bullish on sugar.”
• U.S. dollar- “I own the US dollar and have not sold any. In fact, probably I would have bought some more, if I weren’t talking to you.”

Rogers concluded this discussion by sharing that:

I am still trying to find some more things to buy in Russia, maybe some Chinese shares and maybe some more Japanese shares…

Nice job by The Economic Times getting this information from Rogers.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein.)

Sources:

Xiang, Nina. “Why We Should All Take A Moment To Listen To Jim Rogers.” Forbes. 27 May 2014. (http://www.forbes.com/sites/ninaxiang/2014/05/27/why-we-should-all-take-a-moment-to-listen-to-jim-rogers/). 29 May 2014.

“Will be excited about investing in India if Narendra Modi delivers: Jim Rogers.” The Economic Times. 26 May 2014. (http://articles.economictimes.indiatimes.com/2014-05-26/news/50098911_1_jim-rogers-commodity-space-gold-imports). 29 May 2014.

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Marc Faber: ‘I Will Never Sell My Gold And I Buy Every Month’

More recently, Swiss-born investor advisor/fund manager Marc Faber has been making headlines about his thoughts on equities. So I’ve been curious to hear what the publisher of the monthly investment newsletter The Gloom Boom & Doom Report has to say these days about precious metals. In particular, gold.

Dr. Faber appeared on the Bloomberg Television show Street Smart yesterday. From an exchange with host Trish Regan:

BLOOMBERG: Do you continue to invest in gold because of concerns about central banks?

FABER: Yes. I will never sell my gold and I buy every month some gold. I think it may still go down somewhat. But I wouldn’t be short gold.


“Marc Faber: I Will Never Sell My Gold”
(Gold discussion begins around 8:10)
Bloomberg Video

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein.)

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What Jim Rogers Is Buying In China, Russia These Days

Investor, author, and financial commentator Jim Rogers recently appeared on the Yahoo! Finance show The Daily Ticker. Host Lauren Lyster asked the former investing partner of George Soros about China and Russia. Rogers shared the following with viewers in a segment published yesterday:

Chinese Stocks

I am not buying much in China. I am buying a little bit. They still have a big debt problem, which worries me a lot. But, I have started buying because they had a big conference in November where they said, “This is what we’re going to spend our money on in the next twenty years.” Now, Ms. Lyster- they’ve got more money than I do. And they’re smarter than I am. And if they’re going to put a lot of money into some sectors of the Chinese economy, I am too. And, they said we’re going to open up the economy more and more- especially in finance. So I started putting a little more into financial companies. And more important, they said, “When there’s a situation where we’re not quite sure what to do, we’re going to let the market decide- such as health care….”

So, I’m finding optimism. I haven’t bought shares since 2008- November of 2008. But I’m starting to buy in a small way again.

Russian Stocks

I did buy during Crimea. I woke up and said, “I’ve got to do something now because this is really collapsing.” So I bought more when they marched into Crimea or whatever it was they did. But no- I’m looking right now. But if I weren’t talking to you, I’d probably be buying more.

Russian Ruble

I’m not buying the ruble so much naked. Not naked. But, I might. I might. You’re supposed to buy when there’s blood in the streets… Russia- there’s blood in the streets. Figuratively.


“Jim Rogers: Forget U.S. markets, I’m buying Chinese and Russian stocks”
Yahoo! Finance Video

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein.)

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Marc Faber: ‘Next Step’ Is For Stocks, Bonds To ‘Go Down At The Same Time’

Swiss-born investment advisor/fund manager Marc Faber, who became famous for advising clients to get out of the U.S. stock market one week before the October 1987 crash and for predicting the 2008 global financial crisis, was on the phone with CNBC’s Squawk Box yesterday morning. Dr. Faber warned viewers:

I don’t think that the economy is recovering at all. We have in emerging economies a slowdown, export growth is non-existent, and now- and I have been writing about this now for the last two years- we have geopolitical problems A, in Ukraine and B, in East China Sea…

(Editor’s note: Bold added for emphasis)

The publisher of the monthly investment newsletter The Gloom Boom & Doom Report added this about stocks and bonds:

Since the beginning of the year, the stock market has basically done nothing… but long-term bonds are up 12 percent in terms of total return. Now I believe the next step will be that both stocks and bonds will go down at the same time

(Editor’s note: Bold added for emphasis)


“Dr. Doom’s big bear parade”
CNBC Video

So what does “Doctor Doom” recommend then?:

I don’t see any assets that are terribly attractive. Now, the most under-appreciated asset is cash. Nobody likes cash. Now, on cash, for the next 10 years you will earn precisely zero. In fact, you will lose money, because Mrs. Yellen- she’s a money printer like all the others- and she will make sure that the dollar continues to depreciate in real terms. For the next 6 months, maybe cash is the most attractive… For the next 6 months, opportunities will come along all the time

(Editor’s note: Bold added for emphasis)


“Faber: Cash most underappreciated asset”
CNBC Video

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein.)

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‘Crash Prophets’ Page Streamlined, Updated

Just wanted to let you know that this weekend I streamlined and updated Survival And Prosperity’s “Crash Prophets” page.

In case you’ve never visited it, “Crash Prophets” is:

Where the latest investment activities/recommendations of the “Crash Prophets”- Dr. Marc Faber, Jeremy Grantham, Jim Rogers, and Peter Schiff- that can be found through freely-available sources on the Internet are compiled.

Hope readers are finding this page informative.

Christopher E. Hill
Editor

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Monday, April 28th, 2014 Crash Prophets, Housekeeping, Investing No Comments

Peter Schiff On Gold: ‘Most Likely Prices Have Bottomed’

A little more than a week ago, Euro Pacific Capital’s Peter Schiff- who correctly called the housing bust and 2008 economic crisis- told CNBC viewers that gold prices would eventually head north of $5,000 an ounce (blogged about here).

Schiff did an e-mail interview with MarketWatch this week, and the CEO of Euro Pacific Precious Metals talked more about the yellow metal. From that exchange:

Q: What would you say to investors who are discouraged by gold’s performance so far this year? (Futures are prices up around 7% year to date, but only partially making up for last year’s plunge.)

Be patient. Many investors in the 90’s believed that gold was a dead asset class. But in the 10 years from 2001 to 2011, gold increased almost 900%. The moves come in waves.

Q: With prices currently under $1,300 an ounce, have prices hit bottom for this year? Is gold a bargain at these levels — is it a good time to buy now? Please explain.

Most likely prices have bottomed, as too many speculators are looking for lower prices. The fundamental case for gold has also never been stronger. From a gold short seller’s perspective, this will prove to be the equivalent of a perfect storm. Their losses will be severe…

I’ve been following gold closely for a decade now. I can’t remember any time in those last ten years when the amount of hate directed at the precious metal was ever greater. Particularly in the mainstream financial media and accompanying reader comment sections. Just check out some of the comments in the MarketWatch article I’ve been discussing if you don’t believe me.

I can’t help but wonder sometimes if paid “trolls” aren’t out in force these days in the various comment areas and forums with the mission of talking down gold and its highest-profile supporters at any chance they get.

Then again, many of these comments could just be coming from individuals who fear a rising gold price for some reason or another.

“Where you stand is where you sit”?

I just know one thing. I don’t see stocks catching nearly the same kind of flak as this particular “shiny lump of metal,” as one “correspondent” recently called gold.

Like Mr. Schiff pointed out- before the recent pullback, the price of one ounce of that “shiny lump of metal” increased almost 900 percent in the decade prior.

Anyone want to give me their “shiny lumps of metal”? It’s going to plummet past $1,000 to almost nothing anyway- if one believes what’s claimed in many comments and forums these days.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein.)

Source:

Saefong, Myra P. “Peter Schiff: Reckless Fed may push gold to $5,000.” MarketWatch.com. 25 Apr. 2014. (http://www.marketwatch.com/story/peter-schiff-reckless-fed-may-push-gold-to-5000-2014-04-25?pagenumber=1). 25 Apr. 2014.

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Gallup Poll: U.S. Adults Think Real Estate, Followed By Gold And Stocks, Is Best Long-Term Investment

Gallup just conducted an Economy and Personal Finances telephone poll from April 3-6 where they asked 1,026 U.S. adults the following question:

Which of the following do you think is the best long-term investment — [ROTATED: bonds, real estate, savings accounts or CDs, stocks or mutual funds, (or) gold]?

Their findings?:

-30 percent said real estate
-24 percent said gold
-24 percent said stocks/mutual funds
-14 percent said savings accounts/CDs
-6 percent said bonds

Now here’s something interesting. Rebecca Rifkin reported on the Gallup website yesterday:

Lower-income Americans, those living in households with less than $30,000 in annual income, are the most likely of all income groups to say gold is the best long-term investment choice, at 31%. Upper-income Americans are the least likely to name gold, at 18%…

Upper-income Americans are much more likely to say real estate and stocks are the best investment, possibly because of their experience with these types of investments…

(Editor’s note: Bold added for emphasis)

Last April, real estate (25 percent) edged out gold (24 percent) in the poll, with stocks/mutual funds coming in at 22 percent.

In April 2012 and 2011, gold (28 and 34 percent, respectively) beat out runner-up real estate (20 and 19 percent, respectively) by significant margins.

Anyone else starting to think that the overall selection of “best long-term investment” for any particular year may be correlated with recent performance?

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein)

Sources:

Riffkin, Rebecca. “Americans Sold on Real Estate as Best Long-Term Investment.” Gallup.com. 17 Apr. 2014. (http://www.gallup.com/poll/168554/americans-sold-real-estate-best-long-term-investment.aspx). 18 Apr. 2014.

Jacobe, Dennis. “Gold Loses Luster in U.S. as Investment; Real Estate Gains.” Gallup.com. 16 Apr. 2013. (http://www.gallup.com/poll/161909/gold-loses-luster-investment-real-estate-gains.aspx). 18 Apr. 2014.

Saad, Lydia. “Gold Still Americans’ Top Pick Among Long-Term Investments.” Gallup. 27 Apr. 2012. (http://www.gallup.com/poll/154232/gold-americans-top-pick-among-long-term-investments.aspx). 18 Apr. 2014.

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Peter Schiff Predicts Gold Going Higher Than $5,000 An Ounce

Peter Schiff, the CEO and Chief Strategist over at Euro Pacific Capital, appeared on the CNBC TV show Futures Now on April 15. Schiff, who correctly-called the U.S. housing bust and Great Recession, told viewers:

I’ve been buying gold for the same reason for the last decade, and it’s because central banks are creating too much money, there’s too much inflation, interest rates are too low, and so I want to store my purchasing power in something that central banks can’t print. Meanwhile, during that time period, gold has gone from under $300 an ounce to a high of $1,900. We’ve pulled back. I think we are headed much, much higher, because they are not going to stop these presses. They are going to run them in overdrive…

I don’t know the time period. They’re just going to trend higher. They’re going to go a lot higher. I’ve said $5,000. They’ll go higher than that.


“I’m Off Base, You’re Not Even in the Ballpark!”
YouTube Video

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein.)

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Trends Analyst: ‘I Think We’re Going To Live More Like A South American Country’

Speaking of videos tonight, have any readers seen the one by trends analyst and self-made millionaire Daniel Ameduri? The chief strategist over at FutureMoneyTrends.com was recently interviewed by the Resource Times about current investment opportunities before what he sees is a coming economic collapse- and how to survive and thrive during the financial crash.

I highly-recommend the video. The big picture that Ameduri envisions is very similar to mine.


“Prepare to Thrive During Economic Collapse, Daniel Ameduri”
(Survival material @ 8:18)
YouTube Video

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein)

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Marc Faber: ‘Very Likely’ Stock Market Will Suffer ‘87 Style Crash In Next 12 Months

The last time I blogged about Swiss-born investment advisor/fund manager Marc Faber, the man who became famous for advising clients to get out of the U.S. stock market one week before the October 1987 crash and for predicting the 2008 global financial crisis warned viewers:

I wouldn’t take the risk necessarily to be investing now in U.S. equities.

(Editor’s note: Bold added for emphasis)

That was back in late February.

These days, he has an even stronger message regarding U.S. stocks.

Yesterday, “Doctor Doom”- as the financial media likes to call him- was on the CNBC TV show Futures Now and warned viewers:

Well, I think this year- for sure, maybe from a higher diving board- the S&P will drop 20 percent. I think rather 30 percent. But, I mean, who knows? But all I’m saying is, it’s not a very good time right now to buy stocks. And I recommended to own stocks since 2009, because I saw that the money printing would lift equities. But at the present time, there are very few stocks that are particularly good value

I think it’s very likely that we’re seeing in the next 12 months an ’87 type of crash. And I suspect it will be even worse.

(Editor’s note: Bold added for emphasis)


“Marc Faber: Coming crash will be worse than 1987”
CNBC Video

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein.)

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Friday, April 11th, 2014 Crash Prophets, Investing, Stocks No Comments

Peter Schiff Predicts Future Fed Moves

Peter Schiff of Euro Pacific Capital released a new entry Monday on The Schiff Report YouTube vlog. The “crash prophet” talked about a number of financial topics, including future activity by the U.S. central bank. Schiff predicted:

I think that with the weakening in the stock market, the softness we’re seeing now in the real estate market- with the fact that we’re going to be getting weaker jobs numbers in the spring that cannot be rationalized away based on the weather- the Fed is going to have come forward at some point and acknowledge which should have already been obvious. That they were mistaken. They were overly-optimistic on their assessment of the economy. That for whatever reason they’ll come up with an excuse to save face- they can blame it on some external factor- but the Fed is going to have to come out and they’re going to have to halt the tapering process, and ultimately reverse it.

How much time there will be between the pause and the reversal?

I don’t know. I don’t think it will be more than a couple of meetings, at best. But that’s what’s coming….

Schiff, who correctly-called the U.S. housing bubble and subsequent burst along with the 2008 global economic crisis, went on to speculate what all this might mean for gold and stocks.


“Warmer Weather’s Failure to Stoke Jobs Chills Stocks”
YouTube Video

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein)

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Christopher E. Hill, Editor
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