re: "40-year veteran of Wall Street with a knack for market timing calls a bottom in stocks"

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Not that long ago, not only could a graduate get a good paying breadwinner job but could also start a family with an average blue collar job but the wife could stay home and raise the kids. Now in most cases, it takes 2 incomes to make ends meet.

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This such utter bullshite.

Homes are about 1,000 sq feet larger than yesteryear.

We have more shite in our homes than ever before.

It isn't "making ends meet" requiring two incomes, it's people wanting all the joys two incomes provide.

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I have never once mentioned crash.

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You said fall hard, and have mentioned a crash in several threads

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I have never once mentioned crash.

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Did someone else post the following quotes using your screen name?

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fall hard to around 1800 SPX

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the start of a big down leg to new lows

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This time around, instead of banks and brokerages being where the problems are, it will be entire countries going tits up.

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Might want to research just how much debt as well as central bank distortions are in these "matkets. (sic)"

Once it is vacuumed out to fair value it won't be pretty.

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when trillions are leaving markets in the same timeframe we will have a big problem.

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The entire system is based on trust and trust is rapidly eroding and markets are breaking.

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this SPX 2600-2800 channel being the final shoulder before breaking down.

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the market is breaking before our eyes

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Only one of 100 worries this market is dealing with. Collapse coming.

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We have seen NOTHING compared to what is right around the corner.

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a perfect storm we are headed into

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all global fiat currencies start collapsing.

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when we get a 2008 type volatility spike which is coming very soon.

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we will collapse.

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This dude 100% is a gold broker

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That's certainly possible. I initially thought he must be about 80 years old but I see he says in a thread on the O-T Lounge Board that he's 43 years old.

IMO, that's kind of young to be a full blown gold bug.

We've had several other posters like him who really enjoyed the 2008/2009 stock crash during the Great Recession. They laughed at us stock investors and repeated their mantra to only buy gold and silver for investments.

One of those posters went by the screen name "Rivers." I'm sure other long-time posters on the Money Talk Board will remember him.

He claimed one day at the height of the fear factor in the market when the price of gold went up substantially that day that his gold stash increased in value $X amount, a rather big figure. I did a quick calculation and it meant he would have to have owned about 5 TONS of gold for his stash to have increased in value as much as he claimed. I asked him about that but he never replied to my question.

In one thread Rivers mentioned he was 83 years old at the time.

So anytime a gold bug starts posting I erroneously assume they are, as Rush Limbaugh refers to them, a seasoned citizen.

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Not every college graduate has student loan debt. For 2017 the average amount of debt for students with student loans is less than $38,000. That's not a huge amount.

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Essentially the value of a nice new vehicle

Not a bad price to pay for an education that will benefit you for a lifetime

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What ever happened to that guy?

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Well, he was 83 years old in 2008 so odds are he has assumed room temperature by now.

ETA: Then again since the stock market has been pretty good to us since the Great Recession and since gold is lower now by about $700/ounce than it was seven years ago, maybe Rivers is just reluctant to come back and take his medicine.

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Essentially the value of a nice new vehicle

Not a bad price to pay for an education that will benefit you for a lifetime

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Agreed.

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Where is the money going if they aren't spending it?

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Mortgages and other forms of debt are paid off by older generations therefore pulling capital out of the system.

The entire financial system is based upon credit. Credit is the lifeblood and seized up during the GFC in 2008. This is why the global central banks have had to inject so much liquidity into the global banking system after the GFC. The leverage with the help of derivatives swallowed up capital like a vortex. Were the problems solved and foundations rebuilt? Absolutely not, central banks just reinflated with more and more debt and leverage and here we are.

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Mortgages and other forms of debt are paid off by older generations therefore pulling capital out of the system.

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You believe when a mortgage is paid the payment goes into a box and is buried in the ground instead of becoming cash on hand for the entity collecting the payment and then invested somewhere?

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is why the global central banks have had to inject so much liquidity into the global banking system after the GFC. The leverage with the help of derivatives swallowed up capital like a vortex. Were the problems solved and foundations rebuilt? Absolutely not, central banks just reinflated with more and more debt and leverage and here we are.

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Just stop. You’re embarrassing yourself.

Eta: It’s revealing how you just duck my list of your quotes replying to your “Where did I say crash” post but yet you post another Chicken Little post like the one I quoted above.

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GFY

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That’s probably your most mature, intelligent post you’ve ever made on this board.