View single post by srossi
 Posted: Fri Jan 12th, 2018 10:20 pm
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srossi

 

Joined: Sun Oct 14th, 2007
Location: New York USA
Posts: 45641
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BlueThunder wrote: Funny, many "experts" warned that we'd be facing a Depression similar to 1929 if Trump won. In fairness, I don't really remember what Rossi said before the election regarding the economy. Well, now that the opposite happened, the narrative is that it's the Obama economy.
I don't know if I said anything about the economy in general but I've been saying the same thing about the stock market for years: the other shoe is going to drop again.  I'm almost completely out of the stock market (as far as my individual brokerage account goes, I still have to rely on it for my pension, IRA, and 401(k), of course, which is scary enough).  Everyone here knows I went into cryptocurrency instead, and I'm looking at rental properties.  I've certainly missed out on some of this run-up, and I might miss out on more, but it's going to crash hard again, whether that's in 3 months or 3 years.  I don't think it can sustain this much longer than that.

There is no President that can single-handedly cause a Depression.  The original one didn't happen because of Hoover, even though he was a dipshit ill-equipped to handle it.  It happened because of an unsustainable run-up and average Americans having no sense of real value, just like what we saw in the '90s and just like what's going to happen again very soon.  It will have nothing to do with Obama or Trump or the next puppet.

   

Last edited on Fri Jan 12th, 2018 10:23 pm by srossi



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