I don’t put much credence in this sort of stuff… But it’s fascinating. Here are the words from NewsMax, a successful conservative blog:
Scientist Predicts 60% Market Collapse
Chris Martenson is a world-renowned expert on identifying dangerous, yet hidden, exponential growth patterns in global economies, energy demand, and food consumption…
And he is predicting a 60% stock market collapse will strike in the next three months.
Martenson’s opinion isn’t to be taken lightly, as his research is highly regarded by the United Nations, UK Parliament, and Fortune 500 companies.
His shocking forecast is based on a new alarming pattern he’s identified – he’s calling it “a dreaded triple top” (pictured below).
Martenson’s research suggests that the stock market has patterns, as seen in the above chart.
This proven pattern suggests the market goes through three common “tops.”
The first “top” was in 1999, followed by a 60% market decline. The second “top” was in 2007, again followed by a 60% market plunge. And a third top has now formed, and a 60% stock market drop is inevitable – and it could strike at any moment.
Unfortunately, Martenson is not the only economist predicting a massive, historic meltdown.
In fact, his figures are conservative compared to other experts in his field. …
Of course, there are no such thing as “experts” in this business of predicting stockmarket movements. Here’s the real chart:
And here’s what it looks like over 30 years — a very different picture.
Charts always tell a different story over different time frames.
I don’t personally buy these catastrophic predictions, though our economy is sputtering a bit.
I remember when Harry Dent predicted Dow at 36,000. It’s less than half that now. About the only thing we know for sure is that these gigantic predictions get a lot of press, tend to sell a lot of books — or, these days, blog views. If you want to read more (you don’t), NewsMax is here.
Oh, did I forget to tell you? Apple will be $1,600 by end-2014. This according to Master Elliottician, Ted Aguhob of Wave Genius, who has determined the markets are going to explode in the next year or two, and so will Apple. For more on this nonsense, click here.
The chicken and the egg.
A chicken farmer went to the local bar. He sat next to a woman and ordered champagne. The woman said: “How strange, I also just ordered a glass of champagne.”
“What a coincidence,” said the farmer, who added, “It is a special day for me. I’m celebrating”
“It is a special day for me too, I am also celebrating!” said the woman.
“What a coincidence.” said the farmer.
While they toasted, the farmer asked, “What are you celebrating?”
“My husband and I have been trying to have a child for years, and today, my Gynecologist told me that I was pregnant.”
“What a coincidence,” said the man. “I am a chicken farmer and for years all my hens were infertile, but now they are all set to lay fertilized eggs.”
“This is awesome,” said the woman. “What did you do for your chickens to become fertile?”
“I used a different rooster,” he said.
The woman smiled and said, “What a coincidence”!
Harry Newton is off LED lightbulbs for now. They’re confusing. Some are stadium bright white. Others are blue. Some are warm white. What it says on the package is not usually the reality. They’re also hideously expensive, though I know they’ll pay for themselves between now and when my children die — 50 years from now. Meantime, I’ll wait and not feel guilty about saving the planet. I do have a closet-full of compact fluorescents, which I also bought to save the planet…
dumb fuck
boy do you feel stupid now, your friend “Wavegenius” http://wavegenius.com
Any words of wisdom for the $338 million Powerball winner? I felt like Elin Nordegren didn’t need any advice but this guy might…
The first thing a woman does after learning she is pregnant is NOT going to a bar to drink champagne!
It was a joke. Contrived. Like most of them. It’s still funny.
Hi Harry,
At our level, no one, but no one knows what the market is going to do.. That said, there are good reasons to believe that the market will continue to progress upward inspite of the Government – or because of it.
The economy is showing signs of recovery. As you have mentioned, the energy industry alone will create many jobs – inspite of the government trying to stop it. Obamacare is one of the unknown factors that could be a cataylist to have a spike down depending on whether they can actually impliement it or not. If the government keeps trying to help us out of this, we will surely suffer, sooner or later.
I replaced all those stupid new light bulbs sometime back…can’t stand them…they are slow to light-up, hard to read by and expensive. I bought enough incandescent bulbs to last the rest of my life (now 75) before they disappear from the store shelves, as they are beginning to do now.
I was raised correctly. I KNOW it is impolite to say “I told you so.” But damn, sometimes you just gotta say it. I told you about those damn CFLs when you were so hot on them. The life-cycle numbers are totally bogus unless you leave them on all the time. The on/off pattern of normal usage blows their little starters and then you are left with a dark tube of mercury. But, the Federal Government Nannies mandated them, so they MUST be good.
The Feds didn’t know about LEDs at the time. And they’re still very expensive and and and.
Meantime, my New York apartment building is saving hundreds of dollars each month by lighting the hallways with CFLs. They’re on 24/7. So they don’t wear out their little starters. In short, use CFLs for lights that will be on more than they’re off.
Harry-check and double check! Trust but verify! you have mentioned these several times over the years! You need to take your own device..in your article above you are comparing the DJIA vs SP chart in the article you reference…if you overlay a SP500 yahoo charts (or the like) vs the article on triple top you will see that they do match….the pro’s never discuss the DJIA..its a dinosaur..30 stocks….it doesnt represent the mkt like SP500 does!…….
You’re right. The S&P 500 chart does more closely reflect his triple top chart. Does this mean that you believe we are likely to soon see a 60% reduction in share prices?
Hi Harry-no not really! I read that article yesterday…remember(and you know this) wall street (and anyone associated to it) is always trying to sell you something..turns out the author of the article has a book he is peddling about financial armageddon….now while I dont really believe what he is is saying I do think there are some points these casandra’s are yelling that should (at the very least) make one look at their portfolio and the risk they are taking!……ie if you are 50 yrs old and have a kid about to go to college and are hoping the mkt will give you returns to pay for said college then you need to be in cash (ready to pay those college bills)..what would you do if mkt really does drop 25-60%?….same holds true for older retirees….they dont need to be 80% equities in portfolio…that is why I think this mantra that WS is peddling re the “great rotation” out of bonds into equities is dangerous……so many have been underinvested in bonds…after the last 2 rounds of equity drops I think folks said ok! owning a GE or CAT bond paying 5% is real good money(and it is!)……owning individual bonds is not the problem (as you can hold them to maturity) but holding bond funds is dangerous…..look 2008 for that!….that being said I have not really bought many individual issues of bonds in last 2 yrs of ZIRP!…I think its a good topic for your column someday (bonds vs bond funds)