Salient to Investors:
Paul Farrell writes:
We are at a market top and an economic turning point.
Bernanke’s non-stop cheap-and-easy-money printing presses are loved by Wall Street banks but are bad for the rest of America. His reappointment – certain to become Obama’s greatest domestic blunder – so shocked Nassim Taleb that he went into isolation. Taleb says Bernanke doesn’t even know that he doesn’t understand how things work.
Bernanke has repeated the same ideological mistakes as Greenspan and made the economy worse, created a new bubble, making the next crash ever bigger. Fed chairman believe their own press and believe they alone have the answers.
We will get a “black swan” before year-end, the big shocker expected by Gary Shilling who says investors are paying little attention to weak and declining global economies and concentrating on the flood of money being created by central banks. Shilling’s 11 sectors to avoid: commodities, developed-country stocks. home builders, your own home, big-ticket consumer-discretionary equities, consumer lender stocks, selected bank stocks, junk securities, developing-country bonds, developing-country stocks and old-tech capital-equipment producers.
Read the full article at http://www.marketwatch.com/story/new-critical-warning-as-2013-shocker-looms-2013-03-23
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