A STOCK MARKET CRASH IN 2006?
Four Investment Safe Havens for the Ailing Market
by Dr. Mark Skousen
Chairman, Investment U
June 15, 2006
Originally published June 7, 2006
link
Watch out below! We could well be headed for a Ben Bernanke crash...
This coming crash could hit all sorts of financial assets - stocks, gold, commodities and real estate. In fact, it's already happening... And my recommendation last month to move to "cash" (earning 5%) and prime rate funds (8%) has proven good advice.
The summer of 2006 is eerily similar to 1987, Alan Greenspan's first year as Fed chairman. What happened in October 1987? The stock market fell 23% in a single day. I remember it well, October 19, 1987, my 40th birthday. Fortunately, I warned investors six weeks before to "sell everything," but few followed my advice.
The stock market collapsed in 1987 because the new chairman talked tough about inflation and raised interest rates. The Treasury secretary also said he supported a weaker dollar. It was not what the markets wanted to hear.
Once again, a new chairman has taken over, and on Monday, he gave a speech warning that his new Fed policy-makers would not tolerate current inflationary pressures. "We will be vigilant," he said. . . .
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