Could 2017 economically be 2007 all over again.

#1
carlos86

carlos86

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#1
Sears is closing 150 stores, selling Craftsman business to Stanley Black & Decker

HP to Cut Up to 4,000 Jobs

Boeing cutting jobs

McDonald's cutting 2,100 jobs

500,000 IL homes (nearly 20% of houses in IL) w/ seriously underwater mortgages, mortgage balance > home value by at least 25%

Global bond markets have lost $259bn in value this week.

The Dow flirting with 20k looks like a Federal reserve policy induced bubble.


A slowing economy, higher interest rates and uncertainty in China as it debt to GDP ratio approaches 300%. 2017 is starting to look like the run up to the 2007, 2008 economic bubble collapse.
 

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#2
#2
Peter Schiff, who accurately predicted the 2007 recession, has been saying another one is coming for a year now. I think it's likely coming, but it might not happen in 2017.
 
#3
#3
n_huffhines said:
Peter Schiff, who accurately predicted the 2007 recession, has been saying another one is coming for a year now. I think it's likely coming, but it might not happen in 2017.
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Peter Schiff is a promoter of his firm Euro Pacific Capital whose mutual funds are heavily invested in gold. While he may or may not be right at some point, he makes money off getting people to invest in gold.
 
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#5
#5
n_huffhines said:
Peter Schiff, who accurately predicted the 2007 recession, has been saying another one is coming for a year now. I think it's likely coming, but it might not happen in 2017.
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PermaBears are always predicting one. Eventually, they're right!
 
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#6
#6
1972 Grad said:
Peter Schiff is a promoter of his firm Euro Pacific Capital whose mutual funds are heavily invested in gold. While he may or may not be right at some point, he makes money off getting people to invest in gold.
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I read an article on that. Then another article I read where Harry Dent Jr. was saying that gold in a bubble stage. Really he called for 3 bubbles this year. Fracking, ( “We have said for year that oil is going [to be priced] from $8 to $20 before it bottoms, and I think you will see something like that in the next year,” Dent said. “That kills the frackers and that’s a whole series of defaults and junk-bond problems” that will expand and damage the overall economy.), economic events in China (“the greatest real estate bubble in the world” along with “a stock bubble that already has started to burst.”) and the current issues with Deutsche Bank portending bigger economic problems for banking and central bankers in Europe. (“We will see Italy move into some sort of default zone in the months ahead,”) All those issues he said would cause investors to buy more gold. Crude is at $53.99 right now. It would take a major influx of oil entering the market to cause it to drop too $20.
 
#8
#8
1972 Grad said:
Peter Schiff is a promoter of his firm Euro Pacific Capital whose mutual funds are heavily invested in gold. While he may or may not be right at some point, he makes money off getting people to invest in gold.
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What is any different than these other funds that make their money in stocks & bonds?
 
#10
#10
Everyone on wall street promotes something. I don't listen to any of them. I have my money invested in fixed income, an S&P 500 index fund and several individual stocks. At any given point in time one of them looks great, but it all averages out over time and I feel comfortable with my choices.
 
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#12
#12
VolStrom said:
Everyone on wall street promotes something. I don't listen to any of them. I have my money invested in fixed income, an S&P 500 index fund and several individual stocks. At any given point in time one of them looks great, but it all averages out over time and I feel comfortable with my choices.
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That's pretty much how I'm invested.
 
#14
#14
VolStrom said:
I guess we're both incredibly smart or stupid.
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I have 2 Vanguard funds, VFINX (500 Index) and VWINX (Wellesley Income), one tax free municipal bond fund, a few fixed income short and intermediate bond ETF's, and about 30-35 individual (mostly dividend) stocks. I guess I'll live or die with something resembling this. We shall see.
 
#15
#15
1972 Grad said:
Peter Schiff is a promoter of his firm Euro Pacific Capital whose mutual funds are heavily invested in gold. While he may or may not be right at some point, he makes money off getting people to. invest in gold.
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Every "expert" who comments on the market has interests at stake. Schiff invests in gold because there is real opportunity and i would bet he has a pretty diverse investment portfolio. If he was saying real estate was going to boom then naysayers would come out with "well, he has $30m in real estate" (or whatever)
 
#16
#16
1972 Grad said:
I have 2 Vanguard funds, VFINX (500 Index) and VWINX (Wellesley Income), one tax free municipal bond fund, a few fixed income short and intermediate bond ETF's, and about 30-35 individual (mostly dividend) stocks. I guess I'll live or die with something resembling this. We shall see.
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Damn, I have mostly the same thing. What I don't have is 30-35 stocks, I keep about 10. Half of them are blue chips and the other half are small caps that no on has ever heard of. So far my plan has paid off.
 
#17
#17
n_huffhines said:
Every "expert" who comments on the market has interests at stake. Schiff invests in gold because there is real opportunity and i would bet he has a pretty diverse investment portfolio. If he was saying real estate was going to boom then naysayers would come out with "well, he has $30m in real estate" (or whatever)
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I agree with your first sentence. I was just saying that he has a financial interest in a possible stock market collapse.
 
#18
#18
Damn...in 2009 Schiff picked 5 stocks for Fortune and they were up 360% in 2016
 
#19
#19
VolStrom said:
Damn, I have mostly the same thing. What I don't have is 30-35 stocks, I keep about 10. Half of them are blue chips and the other half are small caps that no on has ever heard of. So far my plan has paid off.
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I just went and looked, and I have more like 60 individual stocks. I wasn't counting my IRA stocks.
 
#25
#25
1972 Grad said:
It has worked pretty well so far, but as you know, past performance is no guarantee of future results.
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Which is why I didn't call it either smart or stupid. It would probably be a stupid approach if your thinking is that the status quo will always be like this and you can coast out the remainder of your time between now and retirement on that strategy. Smart would be realizing that you may want to prepare for a change or a paradigm shift and may want to move in a different direction while sentiment and prices are low.
 
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