So is this legit or nah? I really don't know enough about finance or anything to know, but it scares the shit out of me.
Pic related is my plan if this happens.
You realize that the entire market is only being propped up by corporate welfare at this point, right? It's happening at both the federal and state level where they're actively squeezing you to preserve the massively overvalued positions on the markets. That's why everyone has been so consistently doom and gloom.
Taxpayers that don't own equity investments.
He's not wrong, but he isn't right yet either.
Its true that Mike Maloney has been talking about the next crash for a while, but I dont think he's actually said "ITS HAPPENING BEFORE"
Here is what you have to understand though:
Those who tend to be bullish never predict the recessions, and those who are bearish never predict bull markets.
You really just have to read everything you can get your hands on and make the decision for yourself.
Ill also add that, though bears have been wrong about everything going to shit, theyve also been right in a lot of ways, like predicting the perpetual nature of low interest rates and QE, and predicting that the Eurozone crisis is far from being solved and is still unfolding.
I cant tell you how many times over the past 5 years I heard some news anchor say "The debt crisis has been resolved."
No, chill out. Pic related.
Here is a 1981 interview with Doug Casey on Donahue. Casey is another "everything is going to collapse buy gold" type of guy. Recomending people to buy silver at $23 an ounce at the time.
Fear mongering is a great business, for the fear mongerers. They sell their books, do talks, earning lots of cash with it. But to invest, based on the premise "some day everything is going to collapse" is a sure way to stay poor. "Some day, something bad will happen" is not an investment thesis.