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Response to Yavin4 (Original post)

Wed Aug 14, 2019, 10:19 PM

36. Where Is That Stock And Dollar Crash I've Been Waiting For All These Years?

Where Is That Stock And Dollar Crash I’ve Been Waiting For All These Years?
- from Mark-Jan Werner Blog, 2014

Fear sells. For years a big fear-mongering industry has been putting out books and articles about how the economy is going down the drain soon and the U.S. dollar will be worth less than the paper it is printed on. The bears have been saying this for years. Here are a few (hilarious) examples of “Doom & Gloom” books over the years that I found.

Below is picture of an impressive 300-page book by Doug Casey called “Crisis Investing: Opportunities and Profits in the Coming Depression“. In this book Doug Casey makes the case that the market is about to crash any minute now! The dollar will be destroyed soon and the stock market is going to zero. The next great depression is just around the corner. You have to act fast before all your wealth, that you have been carefully building up for years, will vanish in front of your eyes! But wait.. Let’s check something.. When did this book hit the shelves? July 1980?! There certainly hasn’t been a “new great depression” since then.
- More at link








I'm not saying we won't have a serious correction soon, or even a recession... because nobody can predict these things. However, the U.S. economy has been robust over the long haul. Spans of several years over the past hundred years show ups and downs, with overall economic growth, even including the Great Depression of the 1930s.

Don't get me wrong: I've been anticipating a serious downturn in the American economy every since Drumpfenfuhrer slithered into the Oval Office, and I still am. But, given the many economic catastrophes the U.S. has recovered from, I don't see the damage being permanent. Long-lasting? Sure, that's a distinct possibility. We shall see.

In the meantime, it's prudent not to carry too much debt if possible, and to have as much of a savings cushion as feasible. I know, that's a tall order for many of us, and so there is real danger of serious repercussions making life difficult for a lot of Americans. For that reason, as much as I want to see Trump go down -- and a severe recession in 2020 would certainly help that cause -- it would also cause a lot of misery and hardship. So I don't relish the thought.

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