Greenspan Confirmed My Stock Market Prognosis Exactly Saying “The Party’s Over!”

If you read this blog with any frequency, congratulations on having identified one of the few sources of NOT fake news available. As we’ve been discussing all year, this long-in-the-tooth stock market has run its course and at this point, won’t be seeing a new high for years to come. Hopefully, you got a majority of portfolio or retirement investment capital out of the stock market, before this quarter began. As we projected, the economy is indeed slowing and the stock market is indeed hemorrhaging. The President is blasting the Fed for “even considering” a rate hike while the “outside world is blowing up” and analysts are now projecting a HUGE ‘financial wipeout” from hedge fund activities this quarter. Unless you’ve been living under a rock, or are suffering the long term effects of an extended ether binge, there can be nothing surprising about any of this.

The President’s reasons for blasting the Fed yesterday are no less ridiculous than the Fed insisting on continuing the charade. As we stated at the start, Fed action got underway at least two years too late. We needed to be at 2.5% when we started the process, so now we could be at 5% and have the ability to affect inflation, but instead we’re in No Man’s Land with nothing to gain, no time to do it, and  no place to go. Continuing now is as useless as starting when we did. So even though the President’s reasons are entirely wrong, the fact of the matter is that an interest rate increase at this point will only add to the economic drain and provide absolutely no useful leverage against inflation.

In discussing the stock market last week, I summarized in a blog article that it was long in coming, but “the party is over.” Referring to Wall Street and the stock market, Alan Greenspan today is quoted to have said in a CNN interview that “the party is over.” So I guess that makes it official! The CNN article goes on to say that, “Markets have staggered in recent weeks, with spooked investors selling over mixed messages coming from the White House concerning the status of trade negotiations with China and ‘growing fears of a global economic slowdown.’” All I can say is that, it must have been very crowded under that rock, because those are two of the five burning issues I’ve been broadcasting and trying to get Americans to realize ALL YEAR.

Physical precious metals are the greatest, time-tested, portfolio protection available and the fact that gold is more than 33% below its high and silver is an incredible 70% below its high should embolden investors to take advantage of prices that will be on the rise and not returning for quite some time. Treasury bills and the dollar are two other points on my five greatest concerns list. Today’s headlines are promoting Treasury Bills and the dollar as safe haven being flocked to. If I have to explain the stupidity of movement into those areas at this time, then you haven’t been paying attention…and good luck with that. And if you haven’t yet, call the experts at American Bullion (800) 653-GOLD (4653).