Stockman Warns: Day of Reckoning Is Here, ‘Get out of the Market, the Bond Market’

I have been out of the stock market since 2009 and since I have been retired I have been reluctant to get back in because I feared a crash at any time. I have been wrong about that for 10 years now and realized my fear has cost me dearly over these 10 years. But as the old saying goes, what goes up must come down, may be true in the near future.

www.marketwatch.com...

David Stockman spells out this view of the near future of stocks and bonds and his prediction is dire for the coming times.
If you are in the market or have a 401K with stock or bond holdings and think Stockman is a financially astute player, watch the Cavuto/Stockman interview.

Home Markets U.S. & Canada Key Words GET EMAIL ALERTS ‘Father of Reaganomics’ says ‘get out of the market’ — bond and stock market — ‘and put your money in cash’

We still have about thirty grand in stocks, and I am sure it has some risk involved but we have most of our money in the bank, although the bank invests lots of it's money in stocks and bonds. I doubt if the insurance companies insuring our credit union account can bail out all of the people who will lose money if the credit unions collapse. Our government can cover the bank losses, they will just print more money and raise the debt limit.

a reply to: CharlesT

Is this a "BUY GOLD NOW" advertisement?

Yes it is a good time to get out of that market for about a year. Buy some bitcoins for the time being.

originally posted by: TonyS
a reply to: CharlesT

Is this a "BUY GOLD NOW" advertisement?

did you see or hear gold mentioned anywhere?


you want to preserve wealth, buy material assets like land and such.

a reply to: rickymouse

and with that, look out inflation.

Buy bitcoin.

If you want to "protect" your investment by investing in devalued dollars that's your problem.

The fact that he said get into cash and T bills should tell you something.

He really believes this is a short term herald and that the crash is right around the corner.

That is a serious suggestion. I remember infowars used to push non-stop financial doom and gloom pieces every day like 5 years ago.

I learned my lesson then. There is ALOT of BS know-it-all doom and gloom financial guys who suggest wild claims like this.

He could be right and unless you're well educated in this area, you're just betting your chips on another guy who claims the stock market is crashing soon...

It is basically stock in our government. When you see so much crazy investigations into potus and when you see so many of his friends getting charged then it would not be wise to be invested in something called stock.

a reply to: blueman12

He could be right and unless you're well educated in this area, you're just betting your chips on another guy who claims the stock market is crashing soon...

I think he's underestimated how much the economy was arrested at the tail end of the Bush years and all through the Obama years.

The expansion he's talking about hasn't actually ramped up yet. I think the fed will meter the roll out of interest rates like they have been. They caused a pretty steep crash at the end of last year beginning of this one with what seemed like abrupt increases in interest rates.

The era of cheap money is over. But I don't think the doom is coming. If anyone is worried about an 800-1000 point drop in the market then go buy safer assets like gold and silver. I am very happy with my alt-coin and bitcoin portfolio and if what he says really does happen my BTC wallet will get considerably fatter.

Well,
We sure were informed about the last crash in advance by a member here...his/her main assumption was that the US real estate was out of control and that mortgages were out of control where no real discretion was being used, and all the debts were being passed onto other lenders and the debts never being realised.
That person was proved correct, and he did say it would be very bad, and so it was...still is.

originally posted by: CharlesT
...and realized my fear has cost me dearly over these 10 years.

Yeah, it probably has but who knows, you might have made bad investments if you played.

Things started getting strong again around 2010/2011 and it's been a solid ride ever since. A bit shaky over the last year but nothing too terrible.

But you are not wrong, the big one is coming as our whole economy is made up on funny money and all our credit and homes and cars are funded on imaginary funds, so yeah, eventually all that will catch up. Political climate can speed this up or slow it down, so it's all connected, we'll see.

After re-investing carefully since about 2012, it is really difficult to pull back. It's been such a great ride. If I have to pull out, it won't be quickly. The losses will be a bit heavy.

Any suggestions on how to do this? I have such a mixed bag of investments and everyone has an opinion.

originally posted by: projectvxn
Buy bitcoin.

If you want to "protect" your investment by investing in devalued dollars that's your problem.

Really?

...can you explain how this works?

Because Bitcoin is a trap for suckers.

The whole premise of it's value is to hope other people are dumb enough to invest, then you jump ship with their money.

It's basically stealing from stupid people's futures. A race to jump out with their money first.

Once it was traded, it was killed.

Having said that, what do you trade it for for value?

oh, that's right, the dollar, dollar bill y'all.

a reply to: CharlesT

Stay in, if it crashes this time as bad as they say, you may not live long enough for a comeback. In any case, money will be worthless, as will precious metals. Buy grill gas containers, have something worth trading.

a reply to: Mandroid7

That's not right. Trading has nothing to do with bitcoin.

The value of the coin is held by the people who use it.

You may not like it but many are getting in on it.

From what i have been hearing the coins are keeping many things running in venezuela now.

It will gain much value this year will grow mucho.

a reply to: CharlesT


The actual economy is already in the crash scenario, Housing, debt repayment on car loans,. student debt defaults to name three. The fed is propping up the stock market. They are also controlling the price of Gold and Silver, so it doesn't look better than the dollar. The actual stock market isn't linked to the real economy anymore, the buy backs and federal intervention have ceased to make it an indicator of fair value. This can go on until confidence is lost. At the moment we have no interest rate rises, before that the interest rates can go down to near zero, which will still give the illusion of credit availability to prevent mass bankruptcies. With inflation taken into account we already have negative interest rates, which means its time to take the money out of the Bank, and put it in commodities. Like gold and silver. Freehold land, with some chicken.

a reply to: llama

you may not live long enough for a comeback.

You are right about that. I'm 68 and I don't have long to worry about it. Sheat hits the fan? FI!

a reply to: anonentity

You sir show financial savvy. Thumbs up.