Wednesday, May 18, 2016

Stock Market Veterans Are Becoming
More Cautious With Each Passing Day
"The interventions in all the markets by the usual suspects are becoming more and more blatant, and I think indicate the depths of the systemic problems. The U.S. stock market is historically overvalued, fundamentals, i.e. a weakening global economy and deteriorating earnings, despite widespread accounting chicanery, are worsening by the day. The technical position is precarious and volumes are disturbingly low. These are the preconditions for a stock market crash. I believe the U.S authorities will move heaven and earth to prevent it because such a development would play havoc with the U.S. currency and would speed up the recession, which is just starting to unfold .. I’ve also noticed that more and more stock market veterans with great historical records, and whose views I greatly respect, are becoming more cautious if not outright bearish with each passing day. I think they will be proven correct."
- John Embry
link here to the article

3 comments:

Anonymous said...

My goodness all these stock market veterans ain't half slow. We have been being told here for years that there is going to be a big crash. It is about time they started to get on side and change their minds. What's wrong with them. I thought everyone had agreed the markets was crashing years ago.

Anonymous said...



The Cayman Islands are now the third-biggest foreign owner of US government debt http://bloom.bg/1TlQB0W

Anonymous said...

May's market letter by Doug Pollitt of Pollitt & Co. in Toronto reflects on the growing respectability of devaluing the U.S. dollar and debt by the upward revaluation of gold. Devaluation of the dollar against gold in 1934 was, Pollitt writes, the most successful provision of President Franklin D. Roosevelt's New Deal. Pollitt's letter is headlined "Pimco Goes Full Goldbug" and he has kindly given GATA permission to share it with you in PDF format here:

http://www.gata.org/files/PollittMarketLetter-05-2016.pdf