HJL:
I think prediction of a stock market crash are wrong. The market is certainly inflated unreasonably and harmfully. They are right in that it is inflated unreasonably and harmfully. I believe the harm will manifest itself in the form of a general price level and not a crash. In other words, the DOW represents the new normal. Everything will rise to meet it and achieve equilibrium. It will be the inflation that the bankers want. The worst thing you can do is stay out. The second worst thing you could do if you are out is jump all the way in at one time. Ride the inflation or be crushed. – R.V.
HJL’s Comment:
I’m quite confident that the economy will continue it’s downward spiral. You are probably right. Barring any sort of outside influence, the congress critters and banksters keep the system propped up and functioning. The transfer of wealth would continue. The middle class will continue to bear the brunt. The wild card is the outside influence.Continue reading“Letter Re: Reliability of Stock Market Predictions?”